This city in India has been ranked the most expensive for expats in 2024

The 2024 Mercer's Cost of Living survey assessed 226 cities based on the cost of more than 200 items, including transportation, food, clothing, entertainment

Mumbai, India's financial hub and the heart of Bollywood, retains its title as the country's most expensive city for expats, according to a survey.

Mumbai is expensive for personal care, energy, utilities, transportation and house rent, said the 2024 Mercer's Cost of Living survey. Hong Kong continues being the world’s most expensive city for expats.

City rankings and trends

Mumbai climbed 11 spots to rank 136th, while Delhi made a four-spot rise to 164th. Chennai has slipped five places to 189th, Bengaluru came down six spots to 195th, and Hyderabad held steady at 202nd. Pune makes significant gains, jumping eight places to 205th, while Kolkata moves up four spots to 207th.

In Asia, Mumbai ranks as the 21st most expensive city, while Delhi holds the 30th position among the surveyed locations.

"Despite the global economic challenges, India has shown resilience in our 2024 Cost of Living Survey," said Rahul Sharma, Mercer's India Mobility Leader.

"Even though Mumbai's ranking has increased, the overall affordability of Indian cities remains a significant draw for multinational organisations or Indian companies aiming to attract global talent. Our strong economy, driven by domestic demand and a robust services sector, provides a stable environment for global talent. As global housing costs and inflation rise, India's growth story and improving living standards make it an attractive destination for international assignments," he added.

Housing rental trends

Delhi, in 2024, recorded the sharpest rise in housing rents for expats, up by 12-15 per cent. Mumbai followed with a 6-8 per cent increase. Bengaluru, Pune, Hyderabad, and Chennai have experienced increases ranging from 2-6 per cent, according to the report.

Transportation and daily essentials

Mumbai leads in transportation costs, particularly for automobiles and auto parts, closely followed by Bengaluru. Kolkata has the most economical prices for daily essentials like dairy products, bread, beverages, oils, fruits, and vegetables, with Pune not far behind.

Delhi boasts the lowest costs for alcohol and tobacco items.

For personal care products, Mumbai tops the charts in expense, trailed by Chennai, while Kolkata offers the most economical options. Energy and utility expenses are highest in Mumbai, followed by Pune.

Globally, the top five most expensive cities remain unchanged, with Hong Kong leading, followed by Singapore, Zurich, Geneva, and Basel. Other notable cities include New York City, London, Nassau, and Los Angeles.