In 2018, the global economic climate was dominated by trade tensions and populist undercurrents. The combination of tightening of monetary policy and the volatility looming over markets, international businesses have been under immense pressure to secure their overseas operations.
Within this context, Mercer provides an authoritative annual survey that provides data on quality of living for employees who are sent to work abroad. Ongoing research related to the practicalities of daily life for the expatriate employees and their families, forms the basis of the annual ranking of cities.
According to the 21st annual Quality of Living survey, many cities around the world offer attractive environments for doing business, with the top ranking ones displaying the realisation that quality of living is an essential component of the attractiveness of city for businesses and mobile talent.
The survey took place between September and November 2018. 39 prime factors provided the basis for city-to-city comparisons. Some of these have been highlighted below:
Out of the 231 cities surveyed, the top cities in the 2019 rankings are:
This survey lays emphasis upon the fact that the appeal of cities as a place to live and work is key to attracting talent as well as local and global businesses. There are three main broad questions that need to be responded to, in order to understand: How can cities improve Quality of Living?
- How is the city driving growth and building global awareness?
- Is the city well-connected with communication and transport infrastructures?
- Do the amenities of the city attract a well-educated pool of talent to live there?
Vienna emerged at the top of the rankings globally, for the tenth time in a row, closely followed by Zurich at number 2. Vancouver, Munich and Auckland shared the third place. Vancouver has been the highest-ranking city in North America for the last ten years. Singapore (25th), Montevideo (78th) and Port Louis (83rd) have retained their status as the highest-ranking cities in Asia, South America and Africa respectively.
In India, only five cities made it to the list. Hyderabad has been named the best city to live in for the fifth time in a row. It shares the 143rd position with Pune. Bengaluru has been ranked 147th, Mumbai is 154th and New Delhi is 162nd. In terms of safety in cities, Chennai was named the safest one in India with a global ranking of 103rd.
As per Mercer’s press release, “strong, on-the-ground capabilities are integral to the global operations of most international businesses and are in large part driven by the personal and professional wellbeing of the individuals that companies place in those locations,” said Ilya Bonic, Senior Partner and President of Mercer’s Career business. “Companies looking to expand overseas have a host of considerations when identifying where best to locate staff and new offices. The key is relevant, reliable data and standardised measurement, which are essential for employers to make critical decisions, from deciding where to establish offices to determining how to distribute, house and remunerate their global workforces.”
India Outbound
March 18, 2019
source https://indiaoutbound.org/mercers-21st-quality-of-living-survey/
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