Mumbai retains title as India's most expensive city for expats: Report

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Mumbai, India's financial capital, remains to be the country's most expensive city for expats with Delhi following closely after, stated a survey report released on Monday. Per an IANS report, in the Asian context, both--Mumbai and Delhi--have seen their ranks improve with the former surging six places.

Delhi's rank, per the IANS report, rose by two. As a result, per Mercer's '2024 Cost of Living Survey', Mumbai is now the 21st most expensive city in Asia for expats, with Delhi ranked 30.

The IANS report quoted Rahul Sharma, Mercer's India Mobility leader saying that India had shown considerable resilience amid economic challenges.

"In the face of global economic challenges, India has remained largely resilient," said Rahul Sharma per the IANS report. It further stated that the country's economy has expanded significantly, fueled primarily by domestic demand and a strong services sector.

According to the report, factors such as more employment, a growing middle class, and overall economic growth have all had a favourable impact on India's cost of living.

"Despite Mumbai's rise in rankings, the overall affordability of Indian cities remains a key advantage for multinational organisations or Indian companies looking to attract global talent," Sharma was further quoted as saying in the IANS report.

Per the news agency report, on a global scale, Hong Kong has once again been declared the most expensive place to live. Mumbai has risen 11 places to 136th on the worldwide rankings.

The report stated that other Indian cities that are on the list are Chennai, Bengaluru, Hyderabad, Pune and Kolkata. Reportedly, New Delhi ranked 164 after rising by four spots while Chennai dropped five spots and is ranked at 189. Bengaluru, the report stated, dropped six spots and ranks at 195. IANS stated that Hyderabad remained stable at 202 but both Pune and Kolkata rose by eight and four spots respectively and rank 205 and 207 respectively.

The report found that Mumbai and Pune are the most expensive cities in India in terms of energy and utility expenses, the IANS report stated.

"Our thriving economy, fuelled by domestic demand and a robust services sector, offers a stable environment for global talent," Sharma said.