Australia could become a regional talent hub as the cost of living for expats has fallen which could lead to more international companies employing people from abroad, it is suggested.
The latest cost of living survey from Mercers shows that Australian cities have all dramatically dropped in the 2016 rankings, mainly due to currency fluctuations against the US dollar.
Sydney was the highest ranking city at 42, down from 31 in 2015 followed by Perth at 69 and Melbourne at 7, falling from 48 and 47 in 2015 respectively in the global list while Brisbane at 96, Canberra at 98 and Adelaide at 102 all fell more than 30 places from 2015.
“Dropping in the cost of living rankings is not all bad news for Australia,” said Lorraine Jennings, Mercer’s global mobility practice leader in Australia and New Zealand.
“The drop in rankings of Australian cities against Asian cities is particularly good news. Five of the top 10 most expensive cities for expats are in Asia, which means Australia could be more cost effective and attractive for businesses to send employees on international assignments, particularly those doing business in the Asia Pacific region,” she explained.