Attention expats: Australian cities now more affordable!

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A recent report from ECA International has revealed in its cost-of-living study that Australian capital cities are becoming more cost-effective for expatriates.

ECA International provides data for the management of international assignees. The firm supplies global companies with information on salary, accommodation, tax, labour law, and quality of life, as well as human resource data and solutions.

 

Lower rank, more affordable cities

In its 2013-2014 study, ECA International revealed that all seven capital cities in Australia are now more affordable relative to other locations in the world.

Australian cities are no longer in the top 30 most expensive cities to live in: Sydney ranked 31st; Canberra, 39th; Melbourne, 45th; Adelaide, 46th; Perth, 47th; Brisbane, 54th; and Darwin, 55th.

According to Anna Michielsen, general manager for Australia, New Zealand and Pacific for ECA International, although the costs of goods for a shopping basket in Australia has risen at a faster rate this year overall, the lower exchange rate of the Australian dollar compared with other currencies is making Australian cities more affordable in comparison to other locations worldwide.

Implications of affordability

Aside from being friendly to the hip pocket of businesses assigning employees to Australia, this trend also indicates a great tourism leverage over other countries, especially in the Pacific region. As Mercer’s head of information product solutions Rob Knox said in 2009, this lower cost of living “helps make Australia a very attractive hub for companies looking to grow their presence in the Asia Pacific region.” Mercer also noted the same growing affordability of Australian cities for expats in its own cost of living survey for 2008-2009.

Now that Beijing (15th), Shanghai (18th), Seoul (21st), and Hong Kong (28th) occupy the higher ranks on the list, more migrants will travel Australia and more global companies will see Australia as a great place to live for their employees.

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