The list noted 6 Australian cities which last year featured among the top 100 most expensive cities in the world to live in.
In 2016 Sydney recovered well and while it was still Australia’s highest ranking city – in terms of how expensive it is to live there, it had dropped back 9 places naming Sydney the world’s 42nd most expensive city where it was 31st most expensive last year.
Other Australian cities followed suit and Perth dropped back to 69th position – an 11-places improvement. But it was Melbourne that really rose to the challenge improving its standing by 40 places. Brisbane, Canberra and Adelaide all fell more than 30 places from 2015.
“Dropping in the cost of living rankings is not all bad news for Australia,” said Lorraine Jennings, Mercer’s global mobility practice leader in Australia and New Zealand, to Australia.com
“The drop in rankings of Australian cities against Asian cities is particularly good news. Five of the top 10 most expensive cities for expats are in Asia, which means Australia could be more cost effective and attractive for businesses to send employees on international assignments, particularly those doing business in the Asia Pacific region,” she explained.
“Companies are increasingly aligning their international assignment policies with career and succession planning strategies. They are looking for more opportunities to send early career, high-potential employees and strategic business leaders abroad as part of their career development,” she pointed out.
“Being a more cost effective option than some other cities in the region means Australian cities could become a rich breeding ground for talent for multi-national companies,” Jennings added.
The Mercer list assigned Hong Kong the unenviable prime position on the list as officially being the most expensive city for expats, pushing Luanda in Angola to second position. Zurich and Singapore remain in third and fourth positions, respectively, whereas Tokyo is in fifth, up six places from last year.
The world’s least expensive cities for expats are Windhoek at 209, Cape Town at 208 and Bishkek at 207.