After the crisis caused by the covid-19 pandemic, Mexico City fell 32 steps on the list of the most expensive cities in the world for international employees, now has position 152 globally and was located at number 12 in the Latin American ranking, reported the consulting firm Mercer.at number 12 in the Latin American ranking, reported the consulting firm Mercer.
“Mexico City, like Monterrey, have decreased in their positions versus the ranking of the 2020 edition; In this regard, it is important to mention that along with the complications left by the health crisis, there is a natural behavior in the classification, which causes it to have movements every year. The factors are not static, as reflected by the dynamics of the behavior of the Mexican peso against the dollar in 2020, since our currency had strengthened; if we observe the behavior of the region, this pattern repeats itself “said the leader of the Mobility Practice for Mercer Mexico & Latin America, Amalia Suaste.
World’s most expensive cities for foreign workers
According to the Mercer Cost of Living Survey, Ashgabat is the most expensive city for international employees, displacing Hong Kong to second place. In the third, Beirut rose 42 positions in the ranking as a result of a serious and extensive economic recession caused by the worsening of several circumstances: the country’s biggest financial crisis, the covid-19 and the explosion of the port of Beirut in 2020.
Tokyo and Zurich dropped one place; that is, they went from third and fourth place, respectively, to fourth and fifth, and Shanghai was placed in sixth, one more than last year. Singapore went from fifth to seventh place.
Other cities that are in the top ten most expensive for international employees are Geneva (8), Beijing (9) and Bern (10).
According to the Mercer survey, the cheapest cities in the world for international employees are Tbilisi (207), Lusaka (208) and Bishkek, which ranks as the cheapest at 209.
In Latin America, San Juan (89) is once again the most expensive town in the region, with 89th place worldwide, despite having dropped 23 positions, due to the deflation registered in the second half of 2020 and a very low inflation in early 2021, which affected its position in the rankings.
Port of Spain (position 91 global) is ranked as the second most expensive city, followed by Port-au-Prince (92) which climbs 83 positions in the general ranking, having one of the most consistent currency appreciations against the dollar; Pointe-à-Pitre (107) ranks number four, rose 27 places on the list, for this town the costs associated with transportation, as well as the expenses related to appliances and accessories for domestic use have an increase.
“The affordability to have goods and services for international assignees shows the upside effect in the territories of the Caribbean Sea, the logistical details and the import effect are also representative, organizations are constantly monitoring the situation worldwide to be able to take assertive decisions for the business and this includes the future operation of international assignments “, said the leader of the Mobility Practice for Mercer México & Latinoamérica, Amalia Suaste.
Meanwhile, cities like San Salvador (169), Bogotá (180) and Asunción (187), remained without major movements in the ranking, contrary to that of San José (124), Montevideo (132), Lima (150) and Mexico City (152) which decreased 32 rungs and now ranks 12th in the ranking of Latin America. For its part, Brasilia (205) is the cheapest city in the region, displacing Managua.