Why is Mumbai India’s Most Expensive City?

June 18, 2024

According to Mercer’s 2024 Cost of Living Survey, Mumbai is still the most expensive city in India for expats. It is known as the financial capital of India and the center of the Hindi film business. This yearly poll showed that Mumbai has very high prices in several important areas, such as personal care, transportation, and rent. Mumbai’s world ranking has also increased, making it more expensive for expats to live there.

Cost Factor Analysis

If you compare prices in Mumbai to other Indian towns, personal care items are the most expensive. Mumbai also has the highest costs for electricity and energy, followed by Pune. This shows that these areas are under a lot of stress. Transportation costs, which include the price of cars and parts for them, are another big reason why Mumbai is the best city in India.

Housing Rentals

A noticeable rise has been seen in the rental market, which mostly affects people who live abroad. According to reports, rental prices went up by 6 to 8 percent in Mumbai and 12 to 15 percent in Delhi. In Bengaluru, Pune, Hyderabad, and Chennai, among other places, prices went up by only 2 to 4 percent.

Comparison with Other Indian Cities

In India, Mumbai is the most expensive city. Other cities that were looked at in Mercer’s study were Delhi, Chennai, Bengaluru, Hyderabad, Pune, and Kolkata. Delhi moved up a few spots and is now the 30th most expensive city in Asia. This is in line with a larger trend of rising living costs in big Indian cities.

Global Perspective

Mumbai is the 21st most pricey city in Asia when compared to other cities in the world. Cities around the world, like Hong Kong, Singapore, and Zurich, continue to have the highest cost of living. Even though prices are going up, India’s general affordability is still one of its best features, attracting talented people from around the world and multinational companies looking for growth in a strong economy.

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