The financial capital of India - Mumbai has been revealed to be the most expensive city in the world for expatriates. It has left behind cities such as Seattle and Frankfurt. The rankings are according to the Mercer's 2016 Cost of Living Survey. Mumbai was ranked on 82 among a list of countries that also ranked New Delhi on 130 and Chennai on 158. With the rankings, Mumbai has surpassed major global cities such as Seattle (83), Frankfurt (88), Canberra (98) and Berlin (100). Both the National capital and the Financial capital of India have become more expensive over the years and their rankings have gone up too.
Bengaluru has experienced the highest jump on rankings because of a huge surge in prices specially on items that are included in food and personal care. The city is also termed as one of the costliest city in India in terms of transportation due to an increase in prices of everything from taxi fares, cost of auto, its parts as well as running costs. There are a large number of Indian MNCs that are looking to expand abroad and 70% of them are expecting expatriate assignment to surge in the coming two years.
Inflation and currency stability in Indian cities has a direct impact on the cost of expatriation for the Indian multinationals. Organisations will continue to leverage the global expansion strategist and become more competitive for growth.
By: Neha Maheshwari