Expats ready to call NZ home even as costs rise, Mercer says   15 Jun 2012

Article - BusinessDesk

Expats ready to call NZ home even as living costs surge, Mercer says

By Hannah Lynch

June 15 (BusinessDesk) - Expatriates still think New Zealand is an attractive place to call home, even as the cost of living in Auckland and Wellington surges to record highs.

Auckland increased 62 places to 56 out of 214 countries, in Mercer's worldwide cost of living survey, while Wellington jumped to 74th place from 136th. The survey helps multinational companies and governments determine compensation allowances for their expatriate employees. It measures over 200 items such as transport, food, household goods and entertainment.

"In relation to other countries New Zealand is still pretty competitive - there are other cities that are far more expensive," Sarah Barnaby, senior associate at Mercer's information product solutions business, told BusinessDesk. "If we think about large multi-nations I don't think New Zealand would be the first choice - since our proximity means we will never be the closes but we are still an attractive option."

The increased cost of rental accommodation coupled with the high kiwi dollar helped attribute to the rise. Rent prices across New Zealand increased by 2.3 percent in the March quarter, compared with the same period a year earlier, according to Statistics New Zealand data. The New Zealand dollar has gained 0.6 percent against the greenback so far this year.

Government data out this week showed that food prices rose by 0.3 percent in May. That's the second monthly increase this year. Produce reported the biggest increase, up 3.2 percent, while the price of non-alcoholic beverages rose 2.2 percent and restaurant meals and ready-to-eat food advanced 0.7 percent.

"Yet for expats, New Zealand still continues to offer improved lifestyle and career opportunities despite the rise in costs," Barnaby said.

Multinationals are able to take advantage of local and regional business opportunities in New Zealand. The country also acts as great base to Asia and is away from Europe's current economic uncertainty, Barnaby said.

Globally, Tokyo was the most expensive city, followed by Luanda and Osaka.

Across the Tasman, Sydney jumped three places to 11th most expensive, followed by Melbourne up six places to 15 and Perth climbing 11 places to 19th.

In the North Hemisphere, London dropped back seven places to 25th, while New York was the most expensive US city, coming in at number 33.

At the other end of the scale, Karachi in Pakistan was the cheapest city, followed by Islamabad, also in Pakistan on 213.

(BusinessDesk)

 

Add a comment

Bookmark and Share

News

Customs makes record drug seizures

1 Mar 2017 News
28 Feb 2017 Customs Minister Nicky Wagner is today congratulating Customs on a record number of drug seizures in 2016. “Customs... more

Victoria Square restoration underway

1 Mar 2017 Canterbury Earthquake
28 February 2017 The restoration of earthquake-damaged Victoria Square is now underway, Associate Minister supporting Greater... more

Business

Positive step forward for pay equity

1 Mar 2017 Business News
28 Feb 2017 State Services Minister Paula Bennett has welcomed an agreement with unions which will see the Government’s new pay... more

New Zealand companies impress at Dubai tradeshow

1 Mar 2017 Business News
1 March 2017 Minister for Primary Industries Nathan Guy has attended the world’s largest food tradeshow in Dubai today, as... more

Living

3rd Position, Louis Vuitton America’s Cup World Series

21 Nov 2016 Lifestyle
Emirates Team New Zealand EMIRATES TEAM NEW ZEALAND CLOSES IN 3rd POSITION THE LOUIS VUITTON AMERICA’S CUP WORLD SERIES more

Arts Foundation Award recipients for 2016

14 Nov 2016 Lifestyle
The Arts Foundation Next generation of internationally acclaimed talent among the Arts Foundation Award recipients for 2016Under ... more

Property

NZ house prices gain 11% in October

14 Nov 2016 Property
Article - BusinessDesk Monday 14 November 2016 10:28 AM NZ house prices gain 11% in October, driven by sales of higher value homes By... more

RBNZ sees pressures building in Auckland construction sector

11 Nov 2016 Property By Paul McBeth
Article - BusinessDesk Thursday 10 November 2016 04:04 PM RBNZ sees pressures building in Auckland construction sector By Paul ... more

Migration

Recognised Seasonal Employers employ more Kiwis

8 Feb 2017 Migration
7 Feb 2017 Immigration Minister Michael Woodhouse welcomes a report showing the vast majority of employers who take on seasonal... more

Good progress on investment attraction strategy

8 Dec 2016 Migration
Economic Development Minister Steven Joyce has welcomed news that New Zealand is attracting a higher level of quality international... more

Travel

Weirdest things visitors Google before coming

6 Feb 2017 NZ Tourism
8 Feb 2017 Does New Zealand celebrate halloween?  Is Auckland a dangerous town- these are some of the subjects visitors Google... more

New campaign to get more Aussies to Northland

30 Jan 2017 Travel & Tourism
30 January 2017 A new marketing campaign starting this week to attract Australians to Northland is an excellent approach to... more

Sport

VALE: Tania Dalton 1971-2017

1 Mar 2017 Netball
VALE: Tania Dalton 1971-2017 March 1, 2017   The Netball community is deeply saddened to hear of the passing of Silver Fern... more

Silver Ferns wrap up Quad Series with big win

6 Feb 2017 Netball
6 Feb 2017 The Silver Ferns finished runners-up in the Netball Quad Series after completing a well-crafted 70-39 win over the SPAR... more

Columns

Gordon Campbell on the Gareth Morgan crusade

11 Nov 2016 Opinion
Column - Gordon Campbell   Gordon Campbell on the Gareth Morgan crusade First published on Werewolf more

Gordon Campbell on the US election outcome

10 Nov 2016 Opinion
Column - Gordon Campbell   Gordon Campbell on the US election outcome more

Kiwi Success

Spencer to be Acting Governor of Reserve Bank

8 Feb 2017 Appointments
7 Feb 2017 Finance Minister Steven Joyce will appoint current Deputy Reserve Bank Governor Grant Spencer as the Acting Governor of... more

Temporary Chairs appointed to Canterbury and South Canterbury DHB

1 Feb 2017 Appointments
30 January 2017 Health Minister Jonathan Coleman has today appointed temporary Chairs to the boards of Canterbury and South... more

Recruitment

New employment resource for young people

1 Mar 2017 Recruitment
28 Feb 2017 Tertiary Education, Skills and Employment Minister Paul Goldsmith and Associate Education Minister Louise Upston have... more

Record number of people in employment

1 Feb 2017 Recruitment
1 Feb 2017 Tertiary Education, Skills and Employment Minister Paul Goldsmith has welcomed the record number of New Zealanders now in... more

s