While every city and town in India has something great and unique to offer, living there always comes at a price. While in some cities you can earn a living and build a life comfortably for much less, an expensive Indian city will make you spend a fortune to survive.
Wondering which is the most expensive city in India to live in? Yes, it’s one of your top three guesses, Mumbai. The city that makes dreams comes true, but with a hefty price tag! For those of you living in Mumbai, you know what we’re talking about. While it is true that Mumbai is a city that never sleeps, the joke is that people don’t get time to sleep because they are always running around to make money. We don’t know how much of that is true, but let’s find out what makes Mumbai so expensive to live in.
Why is Mumbai the most expensive city in India?
According to Mercer’s 2022 Cost of Living survey, Mumbai is the most expensive city to live in India. And we’re not surprised!
The cost of living in any city in the world is determined by a lot of factors. From real estate, transport, food, clothing, household goods and entertainment, there are more than 200 factors that are measured and taken into consideration, including elements that contribute to the daily cost of living.
But what is it that makes Mumbai so exorbitant?
It is no news that Mumbai is the financial hub of India, which makes it the most popular for multinational corporations to establish operations. This makes Mumbai flooded with opportunities, attracting lakhs of students, job seekers and others from all parts of the country, who come to the city with the dream of achieving something big. This also makes Mumbai a home to the biggest businessmen and business tycoons in the country.
Mumbai houses some of the biggest corporations and financial organisations in India, such as the Aditya Birla Group, Tata Group and the colossal Reliance Industries. Mumbai also has the headquarters of Reserve Bank of India, National Stock Exchange (NSE) and Bombay Stock Exchange (BSE). All these factors contribute to Mumbai becoming one of the uber-expensive cities in India.
The next most obvious reason is that Mumbai is home to one of the biggest film industries in the world, the Hindi film industry. With a net worth of more than a hundred million, Mumbai is home to some of the biggest actors and actresses not just in India, but in the world.
Mumbai ranked at 127 on the global list of the most expensive cities in the world, and at 1 in India, making it the most expensive Indian city to live in.
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