By NNN-PTI,
New Delhi : Strengthening rupee and growing aspirational demand has made four Indian cities — Delhi, Mumbai, Bangalore and Chennai — increasingly expensive for expatriates to live in, a latest global survey says.
Moscow has emerged as the world’s most expensive city for expatriates for the third consecutive year, according to the survey conducted by global consulting firm Mercer.
It is followed by Tokyo, London, Oslo and Seoul, the top five cities in the ‘Worlwide Cost of Living 2008’ survey.
All cities in India rose in the cost of living ranking due to strengthening of the rupee against the US dollar, with Mumbai moving to 48th place in the March survey this year, compared to 52nd position in the same period last year, while the national capital New Delhi climbed to the 55th place from 68th a year ago.
Chennai and Bangalore also improved their positions to 117 and 118 ranks, respectively in the survey which comprised of 143 cities globally.
Last year, Chennai had been ranked at the 133rd position, while Bangalore was at the 134th place, the survey revealed.
“Delhi, Bangalore and Chennai are racing up the ladder from a cost of living perspective, having moved up over 12 ranks from Mercer’s last survey conducted six months ago,” Mercer Business Leader for Information Product Solutions India Gangapriya Chakraverti said.
“A strengthening rupee and growing but unfulfilled demand for expatriate-style housing are factors that have contributed significantly to the changes in the ranking of Indian cities,” Chakraverti added.