Kuwait City has secured the 119th spot in Mercer’s Cost of Living City ranking for 2024, marking a significant rise of 12 positions compared to its 2023 ranking at 131st. Mercer conducted the ranking based on a comprehensive study covering 226 cities worldwide.

Among Gulf Cooperation Council (GCC) member states, Dubai led the rankings, securing the 15th spot globally, followed by Abu Dhabi at 43rd, Riyadh at 90th, Jeddah at 97th, Manama at 110th, Kuwait City at 119th, and Doha at 121st.

Mercer, a business of Marsh McLennan and a global leader in redefining work dynamics, retirement, investment outcomes, and enhancing health and well-being, released its 2024 Cost of Living City Ranking, providing crucial insights for multinational employers to plan compensation strategies for international assignees.

Hong Kong maintained its top position in this year’s ranking, with Singapore following closely behind. Swiss cities Zurich, Geneva, and Basel rounded out the top five most expensive cities globally. Yvonne Traber, Mercer’s Global Mobility Leader, highlighted the significance of staying informed about cost-of-living trends and inflation rates for organizations to effectively manage their impacts on employees.

Rising housing costs in numerous cities worldwide have posed challenges for talent mobility among employers. Volatile inflation trends have further reduced the purchasing power of international assignees, placing additional strain on their compensation packages. These challenges can impede employers' ability to attract and retain top talent, increase compensation and benefits expenses, limit talent mobility, and elevate operational costs.