Cost of living survey is the panoramic element and is designed to help multinational corporations and government to design the compensation packages for expats. Mercer, the leading global consulting leader in diversified industries lately broadcasted the cost of living survey. The most populous city of the US, New York is used as the base city and all cities are compared against it. Currency fluctuations are measured against the mighty US dollar. In such a scenario what works best is Expatriate salary calculator that is specially designed for candidates who have to move to the next destination country to take up the work assignments so they may compare their salary.
Cost of living survey covers 214 cities across five continents and measures the comparative prices of over 200 commodities in each location that includes essential items, accommodation, transportation, food, clothing, utility bills and entertainment. The largest city in Switzerland, Zurich slumped five places down this year and Tokyo has resumed its place as the ‘World’s most expensive city’. The leading business arm of The Economist Group, Economic Intelligence Unit came up with a recent survey ahead of the currency swings and depicts the cost of living facts for expats. Cost of living is considered as a pivotal tool to deduce the cost of living allowances for expats and business travelers and designing compensation packages for migrating candidates.
The survey by the leading business intelligence agency covers the cost of over 167 items in 140 cities in 93 countries that enables you access the data that has a relevance to the business. The best part of the calculator report is one can view the data in the desired currency, using either current, historical or FX rates.
The globally famous intelligence unit assists business leaders prepare for the best opportunities, empowering them to act taking strategic decisions. Surveys held by Economic Intelligence Unit are prepared with a level of insight with the optimum use of the best analytical minds to analyze the markets, countries and industries capitalizing the industrial opportunities for the impeccable success.
According to the survey findings by Mercer, the differences for some of the commodities can be astounding for example, the cost of a cup of coffee in Managua, Nicaragua is $1.54 compared to $8.29 in Moscow. The survey produced by Mercer takes into account the individual cost and accommodation cost reports for each city. Now, for a salary negotiation, no employer can deny the credibility of your report.