Hyderabad has retained its position as the 5th most expensive city for expatriates in India, according to Mercer’s ‘2024 Cost of Living Survey.’ Globally, it ranks 202nd, with no change from previous years. The survey lists Mumbai as the most expensive city for expats in India, followed by New Delhi, Chennai, and Bengaluru.
Factors such as employment growth, a rising middle class, and overall economic growth have contributed to the stable cost of living in Hyderabad. Globally, Hong Kong remains the most expensive city for expatriates, with Singapore and Zurich following.
The stability in Hyderabad’s ranking makes it an attractive destination for expatriates seeking a balance of economic opportunity and affordable living. This consistency highlights the city’s manageable living costs amidst India’s dynamic economic landscape.
Hyderabad Maintains Steady Cost of Living Ranking in India and Globally
Hyderabad: The city of Hyderabad has retained its position on the list of Indian cities ranked by cost of living for expatriates, according to the latest Mercer’s ‘2024 Cost of Living Survey.’ Globally, Hyderabad is ranked 202nd, showing no change in its position both internationally and within the Indian context.
Hyderabad’s Position in India
Hyderabad stands as the 5th most expensive city for expats in India. This ranking places it behind Mumbai, New Delhi, Chennai, and Bengaluru, but ahead of Pune and Kolkata. The top five cities in India, based on cost of living for expatriates, are:
- Mumbai
- New Delhi
- Chennai
- Bengaluru
- Hyderabad
Mumbai, the financial capital of India, continues to be the most expensive city for expats in the country. It has also seen significant upward movement in the Asian rankings, climbing six spots to become the 21st most expensive city in Asia for expatriates. Similarly, New Delhi has ascended two positions to rank 30th in the region.
Factors Influencing Cost of Living
The stability in Hyderabad’s ranking can be attributed to several factors. The city has experienced steady employment growth, a rising middle class, and overall economic growth, which have collectively influenced the cost of living. These factors have played a crucial role in maintaining Hyderabad’s position on both national and global lists.
Global Rankings
On the global scale, Hong Kong has retained its position as the most expensive city for expatriates. The top 10 cities globally by cost of living are as follows:
- Hong Kong
- Singapore
- Zurich
- Geneva
- Basel
- Bern
- New York
- London
- Nassau
- Los Angeles
Hong Kong’s position at the top of the list underscores the high cost of living in major financial hubs, driven by factors such as housing, transportation, and overall lifestyle expenses.
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Analysis and Perspectives
The cost of living for expatriates is a critical factor for companies and individuals considering relocation. Cities like Mumbai and New Delhi, which have seen upward movement in the rankings, reflect the dynamic economic conditions and urban development in India. These cities are becoming increasingly expensive due to factors like rising real estate prices, higher demand for services, and inflation.
Hyderabad’s stability in the rankings, on the other hand, suggests a balanced economic growth that does not significantly impact the cost of living. This makes it an attractive destination for expatriates seeking a relatively affordable yet vibrant urban experience.
Hyderabad’s consistent ranking in the Mercer’s ‘2024 Cost of Living Survey’ highlights the city’s stable economic environment and manageable living costs for expatriates. As India continues to grow economically, cities like Mumbai and New Delhi will likely see further changes in their cost of living rankings. However, Hyderabad’s steadiness offers a promising alternative for expatriates looking for a blend of economic opportunity and affordable living.
This analysis provides a comprehensive view of Hyderabad’s position in the cost of living rankings, reflecting broader economic trends and their implications for expatriates and global mobility.
