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These are lists of the world's most expensive cities for Eardex
Retrieved January 25, 2013. are not covered by this article.
Various factors enter into a city's cost-of-living for expatriate employees, such as monetary value,
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, ECA International 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.
expatriate
An expatriate (often shortened to expat) is a person who resides outside their native country. In common usage, the term often refers to educated professionals, skilled workers, or artists taking positions outside their home country, either ...
employees (not residents), according to the 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 and Xpatulator.com cost-of-living surveys. Other surveys from online collaborative indices, such as Numbeo, Expatistan, or EardexRetrieved January 25, 2013.
consumer confidence
Consumer confidence is an economic indicator that measures the degree of optimism that consumers feel about the overall state of the economy and their personal financial situation. If the consumer has confidence in the immediate and near future e ...
, 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, 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
A tax is a compulsory financial charge or some other type of levy imposed on a taxpayer (an individual or legal person, legal entity) by a governmental organization in order to fund government spending and various public expenditures (regiona ...
, 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 similar to a developed country.
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 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
This is a list of cities in the world by gross domestic product (GDP). The United Nations uses three definitions for what constitutes a city, as not all cities may be classified using the same criteria. Cities may be defined as the cities proper ...
* Megacity
A megacity is a very large city, typically with a population of more than 10 million people. Precise definitions vary: the United Nations Department of Economic and Social Affairs in its 2018 "World Urbanization Prospects" report counted urban ...
* Most livable cities
The world's most livable cities is an informal name given to any list of cities as they rank on an annual survey of living conditions. In addition to providing clean water, clean air, adequate food and shelter, a ‘livable’ city must also ge ...
* Worldwide ERC
Worldwide ERC (also known as the Employee Relocation Council) is a relocation services industry trade group. Its membership of 12,000 (as of 2005) relocation professionals -- or global workforce mobility specialists — are concerned with current ...
* ''''
References
{{DEFAULTSORT:Most Expensive Cities For Expatriate Employees Cities-related lists of superlatives Moving and relocation Economies by city Cities For Expatriate Employees Expatriates