Doha Ranked Second-Least Expensive City In GCC For Expat Workers

(MENAFN- The Peninsula) Victor Bolorunduro | The Peninsula

Doha, Qatar: Doha has been identified as the second most affordable city for expatriate workers in the Gulf region, as per the latest 2024 Mercer Annual Cost of Living City Ranking.

Mercer's Annual Cost of Living City Ranking offers crucial insights and trends for individuals needing to make well-informed decisions regarding global mobility operations and international assignees. The ranking features 226 cities worldwide, listed from the most expensive to the least expensive places to reside.

This comprehensive ranking acts as a valuable tool, providing direction through the complex landscape of living costs in cities across the globe.

As per the findings, the Qatari capital holds the 121st spot among the 226 cities included in the survey, with Muscat (122) being the only city in the region slightly less expensive than Doha. Following Doha in third place is Kuwait City at 119.

Dubai has climbed the rankings to become the most expensive city in the Middle East for international workers. It now holds the 15th spot globally, moving up three places from 2023, while Abu Dhabi (43), Riyadh (90), and Jeddah (97) trail behind in that order.

Hong Kong, Singapore and Zurich are currently the top-three costliest cities for international workers, the report noted, while it indicated that Nigeria's Abuja (226) and Lagos (225) and Pakistan's Islamabad (224) are the three least expensive cities in the world.

“A number of key factors have influenced the world's economy in recent years. In 2024, these factors continue to have an impact on the cost of living in major cities,” the report noted. The report indicated that inflation and exchange-rate fluctuations are directly affecting the pay and savings of internationally mobile employees (or those executing an international assignment.

It said heightened economic and geopolitical volatility, as well as local conflicts and emergencies, have led to additional expenses in areas such as housing, utilities, local taxes and education.

“In the case of the higher-ranking cities (Hong Kong, Singapore and Zurich), factors such as expensive housing markets, high transportation costs and higher cost of goods and services have all contributed to high living costs. Conversely, in Islamabad, Lagos and Abuja the demonstrably lower costs of living of international assignees have, in part, been driven by currency depreciations,” the report noted.

European cities prominently appear in Mercer's list of the top 10 most expensive places to reside. Alongside four cities from Switzerland, London has secured the 8th position in this ranking. Other notable expensive cities in the region include Copenhagen at 11th, Vienna at 24th, Paris at 29th, and Amsterdam at 30th.

In South America, Montevideo, Uruguay, is identified as the most costly city for international employees, ranking 42nd. It is succeeded by Buenos Aires at 77th, which has dropped 32 places, and Sao Paulo at 124th. Additionally, it is important to highlight that Buenos Aires has become a more affordable city, while Santiago, Chile, has also experienced a significant decline, falling 73 places to 160th on the list.

In North America, New York City (ranked 7th globally) is the most expensive city, followed by Nassau, Bahamas (9), Los Angeles (10), Honolulu (12), and San Francisco (13). The largest changes in North America's year-on-year rankings are in Mexico. The capital, Mexico City, rose 46 places to 33, and Monterrey rose 40 places to 115.

The African cities with the highest placement in the global Cost of Living City Ranking are Bangui (14, up 12 places), Djibouti (18), and N'Djamena (21). The least expensive cities in the region include Blantyre (221), Lagos (225, down 178 places), and Abuja (226).

Apart from Hong Kong and Singapore, the other most expensive cities in Asia are Shanghai (23), Beijing (25), and Seoul (32). Some of the least expensive cities in the region are Karachi (222), Bishkek (223), and Islamabad (224).

For the Pacific region, Sydney tops the list at 58th place, followed by Noumea, New Caledonia (60); Melbourne (73); and Brisbane (89). New Zealand's Auckland and Wellington remain the least expensive Pacific locations, coming in at 111th and 145th, respectively.

The report noted that the cost of housing is a major factor in the Cost of Living City Ranking.

“Between 2023 and 2024, there was a lot of volatility in this cost around the world, with housing rental prices varying significantly between cities,” the report indicated. Mercer is a business of Marsh McLennan - the world's leading professional services firm in risk, strategy and people.

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