Expats ready to call NZ home even as costs rise, Mercer says 15 Jun 2012
- House prices to peak next year on new supply Business
- Hugh Green's children ask court to overrule High Court Business
- NZ export log prices drop to 7-month low Business
- Wellington Airport plans to sell $60 million of 8-year bonds Business
- World Week Ahead: Wall St seen powering higher Business
- NZ dollar little changed as focus shifts Business
- Investors Displeased by Central Banks Business
- Steel & Tube shares recover from 15-year low Business
- China Construction provides $140M cash infusion for NZ unit Business
- Restaurant Brands to kickoff home delivery of KFC Business
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.
23 Jul 2016 News
The Nation On The Nation: Lisa Owen interviews John Tamihere and David Seymour Youtube clips from the show are available
18 Jul 2016 Business News
Article - BusinessDesk Monday 18 July 2016 05:16 PM NZ caught in global backlash against Chinese steel imports July 18 (BusinessDesk)... more
13 Jul 2016 Business News
Article - BusinessDesk Wednesday 13 July 2016 03:10 PM Regulator, shareholder lobby welcome customer obligation for financial... more
18 Jul 2016 Lifestyle
The Outlook for Someday Young New Zealanders Making Films For Good What does sustainability mean to you? Since 2007 The Outlook for... more
21 Jul 2016 Property
Article - BusinessDesk Thursday 21 July 2016 04:55 PM UDATE: All five leading retail banks require 40% deposit from property ... more
30 Mar 2016 Migration
British High Commissioner Jonathan Sinclair is defending changes to skilled migrant rules for Britain but suggests they won't affect... more
12 Jul 2016 Travel & Tourism
Article - BusinessDesk NZ guest nights fell in May, snapping 25 consecutive monthly gains July 12 (BusinessDesk) - New Zealand guest... more
22 Jul 2016 Sport
Shearing Sports New Zealand NZ shearers in Wales July 21, 2016 World champion shearer Rowland Smith has become the fifth New... more
21 Jul 2016 Netball
Netball New Zealand Wellington A Black wins Netball NZ U17 Champs titleMedia ReleaseThursday 21 July, 2016The capital has, for the... more
7 Jul 2016 Opinion
Column - Gordon Campbell Gordon Campbell on Tony Blair and the Chilcot Report | werewolf more
14 Jun 2016 Opinion
Column - Gordon Campbell Gordon Campbell on our paltry refugee response and a brazen US rewrite of the TPP First published at... more
13 Jul 2016 Appointments
New Zealand Government Hon Christopher FinlaysonAttorney-General 13 July 2016 New Supreme Court and Court of Appeal ... more
7 Jul 2016 Recruitment
Article - BusinessDesk Fletcher chases 100 ex-pat Brits as construction sector faces capacity constraints July 7 (BusinessDesk) -... more