New Delhi, sep 14; New Delhi is India’s most expensive city for expatriates but was ranked in the 174th place in the global list, according to findings of the latest ‘Cost of Living’ survey by ECA International.
Despite prices rising at a much slower pace than a year ago, Indian locations have climbed up the list of most expensive locations for expatriates.
New Delhi has moved up 6 spots in the regional ranking to 41st place. Globally, it is now 174th most expensive location for expatriates, up from 208th last year. Mumbai, 48th regionally, ranks 197th in the global list up from 225th place.
“Over the year we’ve seen the price of items in ECA’s shopping basket for India rise more slowly than the year before, particularly food and motoring,” ECA International Regional Director – Asia Lee Quane said adding that “however, during the same period the rupee strengthened against a number of other major currencies and this has pushed up costs for expatriates.”
Other Indian cities in the list include Pune with a regional rank of 51 and global rank of 209, Chennai (regional rank 52, global rank 214), Bengaluru (regional rank 54, global rank 220), Kolkata (regional rank of 55, global rank 226) and Hyderabad (regional rank 56 and global rank 227).
Meanwhile, Shanghai has become Asia Pacific’s most expensive location for expatriates for the first time. It was ranked 8th globally followed by Beijing (9th globally) and Seoul (10th globally).
Globally, the South Sudan city of Juba is the world’s most expensive location for expatriates, followed by Luanda and Zurich.
To ensure that an employee’s spending power is maintained when they are sent on international assignment, a cost of living allowance is often provided as part of the pay package.
ECA carries out two main cost of living surveys per year to help companies calculate cost of living allowances so that their employees’ spending power is not compromised while on international assignment.
The surveys compare a basket of like-for-like consumer goods and services commonly purchased by assignees in over 440 locations worldwide.
PTI