The report found that the ranking has declined in surveying the lowest and least expensive cities for migrants globally among the top Indian cities. Ashgabat in Turkmenistan tops the list as the most expensive city globally, taking Hong Kong to second place, while Beirut rises to 42 positions in the third most expensive city.
Despite Mercer slipping to 18 positions in the 2021 annual cost survey, Mumbai remains the most expensive city for migrants surveyed in India and one of the top 20 in Asia.
The report found that the ranking has declined in surveying the lowest and least expensive cities for migrants globally among the top Indian cities. Ashgabat in Turkmenistan tops the list as the most expensive city globally, taking Hong Kong to second place, while Beirut rises to 42 positions in the third most expensive city.
The epidemic continues to cause unique disruption to international mobility, as countries continue to struggle with the effects of the economic, political, and health consequences of crises. Mumbai, ranked 78th, remains India’s most expensive city, followed by New Delhi (117) and Chennai (158), while Bengaluru (170) and Kolkata (181) are the least expensive cities for migrants, surveyed.
Though there has been no change in the relative order of cities within India, the three cities of Mumbai, New Delhi, and Chennai have reached at least fifteen positions in the rankings.
“Despite changes in price index movements, the rupee weakened against the US dollar compared to last year. India Global Mobility Practice Leader Padma Ramanathan in Mercer told ET that the surge or big price movements against local currencies in more expensive cities than the US dollar have pushed Indian cities down the rankings.
Chennai (158), going down from fifteen places in the list is most affected by its position between the survey and movement of the neighboring pack. The city is a popular migrant destination for its relative affordability in migrant accommodation and living environment. Bengaluru (170) has grown by just one place, mostly stable. Kolkata (181) is ranked as the least expensive of the surveyed Indian cities but is moving in the rankings from another four locations like last year, indicating some tension over the increase in migrant life costs.
The migrant rental housing market saw downward volatility, which was hit by an epidemic-driven mobility slowdown. However, the cost of Mumbai housing rental is still the most expensive in the world.
According to the survey, Tbilisi (207), Lusaka (208), and Bishkek are among the least expensive cities in the world for international employees, ranked as the least expensive cities in 209.
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