The cost of living in every part of the World in one infographic. Cost of living in India is 66.39% lower than in United States (aggregate data for all cities, rent is not taken into account). Rent in India is 82.99% lower than in United States (average data for all cities).
The most recent survey was published in March 2015. Singapore, remains the most expensive city in the world for the second year running, in a rare occurrence where the entire top 5 most expensive cities were unchanged. Sydney and Melbourne have both cemented their positions as top-ten staples, with Sydney becoming the fifth most expensive, and Melbourne becoming the sixth. Asia is home to more than five most expensive cities in the top twenty but also home to eight cheapest cities of the cheapest ten.
Stipends or extra pay provided to employees who are being temporarily relocated may also be called cost-of-living adjustments or cost-of-living allowances. Such adjustments are intended to offset changes in welfare due to geographic differences in the cost of living. Such adjustments might more accurately be described as a per diem allowance or tied to a specific item, as with housing allowances. Employees who are being permanently relocated are less likely to receive such allowances, but may receive a base salary adjustment to reflect local market conditions.
A cost-of-living allowance is frequently given to members of the U.S. military stationed at overseas bases if the area to which a service member is assigned has a higher cost of living than the average area in the United States. For example, service members stationed in Japan receive a cost of living allowance of between $300 and $700 per month (depending on pay grade, years of service, and number of dependents), in addition to their base pay. This additional pay is non-taxable.
We think about cost of living all the time, especially when we're looking to move from one location to another. Our perspective is, therefore, generally rather narrow.
The folks at Movehub.com have compiled some awesome data that forces us to take a look at the entire world.
This is an infographic of the cost of living all over the world and when you look at the data, presented in this way, the results are a bit staggering. We think about cost of living all the time, especially when we're looking to move from one location to another.
For example, the top three countries for cost of living are Switzerland, Norway, and Venezuela. While the lowest are India, Nepal, and Pakistan.
Take a look at the whole eye-opening infographic here: