In the last few hours, Mercer presented its global study “Cost Of Living Survey”, which analyzes the evolution of prices in a basket of more than 200 elements, all vital inputs for the quality of life of executives, expatriate collaborators and their families when they are abroad.
The above includes housing, transportation, food, clothing, household items, and entertainment from 227 cities on five continents.
In the ranking, Santiago de Chile fell 73 places to 160th in the rankings from last year.
Compared to the region, The Chilean capital is the sixth most expensive city, with Montevideo (42) and Buenos Aires (77) being in first and second place respectively.
Agustina Bellido, Career leader at Mercer Chile, commented that the drop in Santiago’s ranking reflects economic adjustments that can benefit the city by making it more attractive.
“The depreciation of the currency, along with controlled inflation, have contributed to this dynamic, positioning Santiago as a viable option,” he analyzed.
According to the results obtained this year, other cities in North America and Europe, traditionally more expensive, have experienced an increase in their costs.
This relative increase in other global cities contributes to Santiago losing positions in the ranking.
However, it is important to highlight that This “does not necessarily mean that prices in Santiago have fallen, but that the increase in other cities has been greater,” Bellido explained.
The cities with the highest cost of living in Latin America
In South America the capital of Uruguay, Montevideo occupies the most expensive place for international workers (42), while several cities in the region experienced significant changes compared to 2023: Santiago, Chile, fell 73 places to 160th in the rankings, while Bogotá, Colombia, rose 40 places to 174th.
Of the cities in North America (without considering cities in the United States and Canada), Nassau (capital of the Bahamas) remains the most expensive city in the region, followed by Mexico City.
The cost of living in Mexican cities increased significantly compared to the previous year. The Mexican capital ranked 33rd, from 79th in 2023, and Monterrey ranked 115th, up from 155th last year.
For its part, São Paulo rose 28 positions and continues to be the most expensive city in Brazil. The Rio country has a total of 5 cities in the ranking: Rio de Janeiro (150), Brasilia (179), Manaus (182) and Belo Horizonte (185).
Besides, Lima (Peru) practically remained in the ranking, rising 1 position and occupying position 166.
