With dip in cost-of-living, Bengaluru now more attractive for foreigners
That Mumbai is the most expensive to live in for expatriates among all Indian cities is no surprise. But did you know IT-hub Bengaluru is one of the cheaper cities to live in for foreigners who work in India? That's right! In a global survey of 209 costliest cities, the Karnataka capital is at 170th, 12 places above Kolkata, the cheapest city in India.
Why did Bengaluru become cheap?
The low cost of living in Bengaluru can be attributed to a drop in commuting expenses, "including taxi fares, cost of auto and auto parts as well as running costs," said the survey. The city became less expensive this year than what it was in 2017, when its rank was 166th. Interestingly, Mumbai, Delhi and even Chennai are more expensive than Bengaluru.
Rankings used by companies to decide expats' salaries: Mercer
New York-based Mercer considered cost of items like housing, transportation, food, clothing, household goods, and entertainment for this survey. The rankings are apparently used by companies to decide an expat's salary, the company said. This year, New York City was kept as the standard.
The survey considered prices of more than 200 items
Mercer's 24th annual Cost-of-Living Survey measured, as the name suggests, the expenses borne by expatriates for buying more than 200 products and services in a particular city. As per the survey, Hong Kong, Tokyo and Zurich are the three most expensive cities. The report added that even though Kolkata is India's cheapest city, purchasing domestic-supplies and home services is now more expensive than before.
Aamchi Mumbai pays its expats the highest in the world
In a February survey conducted by HSBC, it was found that Mumbai pays its expats the highest globally. It pays $217,165 annually to foreigners, which is double the average salary of other cities combined. San Francisco and Zurich came second and third in the survey.