Whereas Hong Kong ranked first within the record of the world’s costliest cities for international employees, Ankara was the most affordable metropolis on this planet.
In accordance with the most recent report of the worldwide analysis firm Mercer, 4 cities from Switzerland are among the many high 10 costliest cities on this planet for international employees on this yr’s record. These cities turned Zurich, Geneva, Basel and Bern.
Tokyo, Beijing and Singapore had been among the many high 10 costliest cities in Asia, in addition to Hong Kong. Of the Center East, solely Tel Aviv entered the highest 10.
Ankara was the most affordable metropolis within the final place.
The cities with the bottom residing bills for international employees on this planet had been Ankara, the capital of Turkey.
Ankara took the final place within the survey, which examined 227 cities. Rating 222nd, Istanbul is among the many 10 most cost-effective cities.
Different cities among the many 10 most cost-effective are Algeria, Almaty, Tunisia, Tashkent, Karachi, Islamabad and Dushanbe.
Istanbul and Ankara have regressed in recent times
Mercer’s analysis appeared on the modifications in home rents, inflation, costs for services and products. Whereas Western European cities had been seen to be on the high of the rankings, Istanbul and Ankara turned cheaper for international employees.
For instance, Istanbul, which was ranked 153rd within the 2020 rating and 173rd within the 2021 rating for worldwide employees, dropped to 224th in 2022. Ankara was not included within the 2021 and 2020 research.
Solely Istanbul and Ankara had been included within the 2022 record from Turkey.
Mercer’s ‘Price of Dwelling’ analysis
Mercer’s intensive research overlaying a whole lot of cities around the globe relies on the Price of Dwelling knowledge survey it publishes yearly.
The corporate states on its web site that it conducts this analysis twice a yr, and that the research is designed to assist multinational firms and governments around the globe outline compensation methods for his or her international employees.
How is the Price of Dwelling index calculated?
In accordance with Mercer, the Price of Dwelling analysis analyzes greater than 200 items and companies.
Within the analysis, it’s acknowledged that the principle components corresponding to foreign money fluctuations of the nation they’re in, inflation and instability in lodging costs are taken under consideration in figuring out the fee for worldwide employees.