Sydney ranked 29th on the 2018 Global cost of living list for outsiders (Domain photo)
According to the Mercer (Mercer) 2018 cost of living ranking, although Australia's major urban residents are struggling with the cost of living, but from a global perspective, Australia does not have cities in the top 10 cities with the highest cost of living for international staff.
According to Domain, Mercer Consulting released the 2018 Global cost of living Survey report, showing that although Sydney is still the most expensive city in Australia and New Zealand, its ranking in the global list has fallen to 29th place in London. Copenhagen, New Caledonia's capital, Noum é a, and African cities Abidjan, Libreville and Brazzaville.
The survey, which covers 209 cities across five continents, is based on the cost of living in New York and in dollars.
Melbourne ranked 58th and was overtaken by Munich, Mumbai, Helsinki and Bangkok. Perth ranked 61st. Canberra ranked 77th, down slightly from 71st last year. Brisbane ranked 84th behind 81st Auckland. In addition, Adelaide ranked 87th.
Australia's city rankings fell not because of lower costs of living, but because of rising costs of living in other Asian cities, said Costa (Karla Costa), head of Mercer Sydney.
Asian cities ranked six in the top 10 of the 2018 global expatriate cost of living list. Hong Kong, China, ranked first, followed by Tokyo, Zurich, Singapore and Seoul. Luanda, Angola's capital, fell to sixth place from its top spot last year, affected by a weak property market. The top 10 also include Shanghai, N'Djamena, Beijing and Bernie. New York is the highest city in the United States, ranking 13. 5%.
Costa pointed out that the subject of the study was the cost of living for international personnel, not indigenous residents. There are 10 measurement factors, including dining out, transportation expenses, sports and recreational expenses and so on. At the same time, it also includes the cost of accommodation.
Sydney and Melbourne rank higher than some American cities because of higher housing costs, combined with goods and transportation costs. For unfurnished apartments, however, Sydney rents less than Hong Kong, Tokyo, London, New York, Shanghai, Moscow, Zurich and Seoul.
Australia's high wages, relative social security and stability, and lower cost of living are likely to attract more investment and talent from multinational companies.