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These are lists of the world's most expensive cities for expatriate employees (not residents), according to the Eardex
Retrieved January 25, 2013. are not covered by this article.
Various factors enter into a city's
Mercer's Cost of Living surveys are taken in March of each year. The survey covers 207 cities around the world and measures the comparative cost of over 200 items in each location, including housing, transport, food, clothing, household goods and entertainment. It is designed to help multinational companies and governments determine compensation allowances for their expatriate employees. New York is used as the base city and all other cities are compared against New York. The cost of housing plays an important part in determining where cities are ranked.
Two main factors determine a city’s ranking in Mercer’s survey – the relative strength of the relevant currency against the US dollar over the prior 12 months and price movements over the prior 12 months compared to those in New York City as the base.
Every March and September,
Mercer
Mercer may refer to:
Business
* Mercer (car), a defunct American automobile manufacturer (1909–1925)
* Mercer (consulting firm), a large human resources consulting firm headquartered in New York City
* Mercer (occupation), a merchant or trader ...
, ECA International
ECA International provides data, software services, consultancy and training to help companies manage compensation and benefits for international workers moving around the world on a short-term, long-term or permanent basis.
The company offers ...
and Xpatulator.com cost-of-living surveys. Other surveys from online collaborative indices, such as Numbeo, Expatistan, or EardexRetrieved January 25, 2013.
cost-of-living
Cost of living is the cost of maintaining a certain standard of living. Changes in the cost of living over time can be operationalized in a cost-of-living index. Cost of living calculations are also used to compare the cost of maintaining a cer ...
for expatriate employees, such as monetary value, consumer confidence, investment
Investment is the dedication of money to purchase of an asset to attain an increase in value over a period of time. Investment requires a sacrifice of some present asset, such as time, money, or effort.
In finance, the purpose of investing i ...
, interest rates
An interest rate is the amount of interest due per period, as a proportion of the amount lent, deposited, or borrowed (called the principal sum). The total interest on an amount lent or borrowed depends on the principal sum, the interest rate, th ...
, exchange rate
In finance, an exchange rate is the rate at which one currency will be exchanged for another currency. Currencies are most commonly national currencies, but may be sub-national as in the case of Hong Kong or supra-national as in the case of ...
s of the country's currency, and housing costs. This list does not account for cost-of-living savings accrued to local citizens through government-subsidized housing, health care, and education, differences in taxation, and many other factors irrelevant to expatriates. Cost of living may be much higher for expatriates than for local residents in a developing country
A developing country is a sovereign state with a lesser developed industrial base and a lower Human Development Index (HDI) relative to other countries. However, this definition is not universally agreed upon. There is also no clear agreem ...
, especially if expatriates expect a standard of living
Standard of living is the level of income, comforts and services available, generally applied to a society or location, rather than to an individual. Standard of living is relevant because it is considered to contribute to an individual's quality ...
similar to a developed country
A developed country (or industrialized country, high-income country, more economically developed country (MEDC), advanced country) is a sovereign state that has a high quality of life, developed economy and advanced technological infrastruct ...
.
Mercer
Mercer's Cost of Living surveys are taken in March of each year. The survey covers 207 cities around the world and measures the comparative cost of over 200 items in each location, including housing, transport, food, clothing, household goods and entertainment. It is designed to help multinational companies and governments determine compensation allowances for their expatriate employees. New York is used as the base city and all other cities are compared against New York. The cost of housing plays an important part in determining where cities are ranked.
Two main factors determine a city’s ranking in Mercer’s survey – the relative strength of the relevant currency against the US dollar over the prior 12 months and price movements over the prior 12 months compared to those in New York City as the base.
ECA International
Every March and September, ECA International
ECA International provides data, software services, consultancy and training to help companies manage compensation and benefits for international workers moving around the world on a short-term, long-term or permanent basis.
The company offers ...
calculates the cost of living for expatriates in almost 400 cities around the world. The survey does not include certain living costs such as accommodation, utilities (electricity, gas, water costs), car purchase and school fees. These are usually compensated for separately in expatriate packages from cost of living allowances.
See also
* Global city * List of cities by GDP * Megacity * Most livable cities * Worldwide ERC * ''''References
{{DEFAULTSORT:Most Expensive Cities For Expatriate Employees Cities-related lists of superlatives Moving and relocation Economies by city Cities For Expatriate Employees Expatriates