Mumbai has once again been crowned as India’s most expensive city for expatriates, according to the 2024 Cost of Living survey by HR consultancy Mercer. This year, the city climbed 11 spots globally to rank 136th among 226 cities surveyed worldwide. Mumbai has consistently held the top spot as India’s priciest city since Mercer began the survey in 2013.
The global top ten list of the most expensive cities remains dominated by financial and technological hubs. Hong Kong continues to lead, followed by Singapore, Zurich, Geneva, Bern, New York City, London, Nassau, and Los Angeles. Among Indian cities, New Delhi (ranked 164th globally), Chennai (189th), and Bengaluru (195th) also feature in the top 20 for India. Other notable mentions include Hyderabad at 202nd, Pune at 205th, and Kolkata at 207th.
In Asia, Mumbai is now ranked as the 21st most expensive city for expatriates, while Delhi holds the 30th position.
Rahul Sharma, India Mobility Leader at Mercer, highlighted the factors contributing to Mumbai’s high ranking. “Employment growth, a rising middle class, and a resilient economy have all significantly impacted the cost of living in India,” Sharma said. “Despite Mumbai’s position as the most expensive city, the overall affordability of Indian cities remains a key advantage for multinational organizations and Indian companies aiming to attract global talent.”
The survey also detailed the costs associated with living in different Indian cities. Mumbai and Pune lead in energy and utility expenses. Transportation costs are the highest in Mumbai, with Bengaluru following closely behind. On the other hand, alcohol and tobacco are least expensive in Delhi but costliest in Chennai.
Mumbai’s sustained ranking as the costliest city for expatriates reflects its status as India’s economic powerhouse, with high living costs influenced by its bustling real estate market, extensive transport networks, and vibrant business environment. Despite the high costs, the city’s dynamic opportunities continue to draw talent from across the globe.
