Soaring prices of essential goods and real estate may have made life costlier for people but Indian cities are still among the cheapest places in terms of cost of living for expatriates, a latest survey says.
All the seven major cities in the country -- Mumbai, New Delhi, Chennai, Kolkata, Hyderabad, Pune and Bangalore – have moved up by 1-3 ranks in a list of Asia's costliest cities for expats released by Hong Kong-based ECA International, a consultancy firm on international HR professionals.
However, all Indian cities are placed in the bottom half of the list of 41 Asian cities, topped by Seoul in South Korea. Besides, the most expensive city in India - Mumbai - is ranked 24th in Asia and 192nd in the world.
Mumbai is followed by New Delhi at 25th position in Asia, Chennai (30), Hyderabad (32), Kolkata (35), Pune (36) and Bangalore (40). The world rankings of New Delhi, Chennai, Hyderabad, Kolkata, Pune and Bangalore are 194, 203, 206, 212, 214 and 224 respectively.
"Cost of living in Indian cities is relatively cheap than elsewhere in Asia and most of the MNCs are therefore not even giving cost of living allowances to their expatriate employees there," ECA International General Manager Lee Quane said from Hong Kong.
However, these cities have become relatively expensive in the past few months, while moving up the ranks from the previous survey in September 2006.
