Now that I am moving back to India, one of the aspect that I am closely looking at is the cost of living in Indian cities. Contrary to my belief, one of the recent surveys showed Indian cities not being too expensive compared to its counterparts across the globe, even after sharp rise in rupee and booming economy.
The survey conducted by Hong Kong-based ECA International showed that Mumbai, most expensive city in India, ranks lowly at 177 worldwide and poor 24th in Asia. I had always been under the impression that Mumbai was one of the top expensive cities in World let alone Asia. One of the reasons is that this survey does not consider Real Estate.
ECA’s cost of living data compares a basket of 128 consumer goods and services commonly purchased by expatriates in over 300 locations worldwide. The data is used by ECA Member companies to calculate cost of living allowances for expatriates. The survey covers: â€¢ Food: Groceries; dairy produce; meat and fish; fresh fruit and vegetables â€¢ Basic: Drink and tobacco; miscellaneous goods; services â€¢ General: Clothing; electrical goods; motoring; meals out
Simply put, the survey only considers commonly purchased consumer goods by expats.
Among the Asian rankings, Indian cities Mumbai and Delhi occupy 24th and 25th positions while Chennai comes at 27th place followed by Hyderabad (28), Kolkata (30) and Pune (31). SUrprisingly, Bangalore (37) has the least cost of living among Asian cities, followed by the Sri Lankan capital of Colombo (38) and Pakistan’s capital Islamabad (39). Who says Bangalore is expensive !….minus the real-estate.
Here is the complete list of Rankings:
|Asia 2007||City||Country||World 2007|
|5||Hong Kong||HONG KONG||79|
|36||Ho Chi Minh City||VIETNAM||204|