Here are the world's most expensive and cheapest cities to live in 2024

Hong Kong, Singapore and Zurich have maintained their positions as the costliest cities in the world to live in 2024, as per Mercer’s Cost of Living City rankings. Meanwhile, Islamabad, Lagos and Abuja are ranked lowest in terms of living cost.

In cities such as Hong Kong, Singapore, and Zurich, expensive housing, high transportation costs, and expensive goods and services contribute to the high living costs here. While for cities like Islamabad, Lagos and Abuja, currency depreciation has lowered the cost of living.

Costliest city in India

In India, Mumbai tops while globally it has secured 136th place. In last one year, it has climbed 11 spots. The National capital Delhi has also moved up four points to 165th place in 2024.

Meanwhile, Chennai slipped five points, and Bengaluru slipped six points to 189 and 195, respectively. Hyderabad has maintained its position since last year at 202 while Pune has moved up eight points to 205th rank and Kolkata has moved up 4 points to 207 in the list.

Mercer's cost of living list

Mercer's cost of living city ranking has analysed 226 cities worldwide. It has further assessed the costs of over 200 items, including housing, transport, food, clothing, and entertainment. While New York City was chosen as the base city, dollars was chosen in currency to maintain the consistency.

As per the Mercer's report, multiple factors including inflation and exchange rate variations have directly impacted the salaries and savings of internationally mobile employees. Meanwhile, large-scale economic and geopolitical volatility and increasing conflicts have added additional expenses in housing, taxes, education, and utilities.

Costliest cities regionally

European cities largely feature in the top 10 most expensive cities to live in. London ranks 8th. Other expensive cities are Copenhagen (11), Vienna (24), Paris (29), and Amsterdam (30). In the middle east, Dubai is the costliest city ranking 15th for the international employees.

In South America, Uruguay is the most expensive place for international workers at 42nd rank. In North America, New York City tops the list at 7th rank. Bangui is the most expensive city in Africa, ranked 14th. Sydney tops the list in the Pacific region.

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