A ranking of the costliest places for employers to relocate employees includes Auckland, Wellington and several Australian cities
A ranking of the costliest places for employers to relocate employees includes Auckland, Wellington and several Australian cities.
Five of the most expensive cities in the world are in Asia according to Mercer’s Cost of Living Survey which is designed to help multinational companies and governments determine compensation allowances for their expatriate employees.
While New Zealand isn’t among the highest tier, Auckland has surged up the list to number 61 in 2017 from 98 a year ago; and Wellington has leapt from 123 last year to 86 in 2017.
Australian cities have all experienced further jumps up the global ranking since last year due to the strengthening of the Australian dollar.
Sydney (25), Australia’s most expensive city for expatriates, gained seventeen places in the ranking along with Melbourne (46) and Perth (50) which went up twenty-five and nineteen spots, respectively.
Cities are ranked against New York City and costs are ranked against the US dollar.
The most expensive city for firms to relocate employees is Luanda in Angola while Hong Kong and Tokyo are also in the top 3. Seoul and Shanghai are the other Asian cities in the top 10.
“The strengthening of the Japanese yen along with the high costs of expatriate consumer goods and a dynamic housing market pushed Japanese cities up in the ranking,” said Ms. Constantin-Métral.
“However, the majority of Chinese cities fell in the ranking due to the weakening of the Chinese yuan against the US dollar.”
Five of the most expensive cities in the world are in Asia according to Mercer’s Cost of Living Survey which is designed to help multinational companies and governments determine compensation allowances for their expatriate employees.
While New Zealand isn’t among the highest tier, Auckland has surged up the list to number 61 in 2017 from 98 a year ago; and Wellington has leapt from 123 last year to 86 in 2017.
Australian cities have all experienced further jumps up the global ranking since last year due to the strengthening of the Australian dollar.
Sydney (25), Australia’s most expensive city for expatriates, gained seventeen places in the ranking along with Melbourne (46) and Perth (50) which went up twenty-five and nineteen spots, respectively.
Cities are ranked against New York City and costs are ranked against the US dollar.
The most expensive city for firms to relocate employees is Luanda in Angola while Hong Kong and Tokyo are also in the top 3. Seoul and Shanghai are the other Asian cities in the top 10.
“The strengthening of the Japanese yen along with the high costs of expatriate consumer goods and a dynamic housing market pushed Japanese cities up in the ranking,” said Ms. Constantin-Métral.
“However, the majority of Chinese cities fell in the ranking due to the weakening of the Chinese yuan against the US dollar.”
