2016 A Year in Review: Rising Expatriate Costs
The Global Mobility Industry has had some hurdles to overcome this past year; volatile global markets, political unrest, growing security fears, and challenges in world events have not only impacted several business and industries, but also led to an overall increase in the cost of the expatriate package.
Earlier this year, Mercer released their 22nd annual Cost of Living Survey, and concluded that these rising costs were the outcome of factors such as currency fluctuations, rampant inflation in the cost of goods and services, as well as continued instability in the price of accommodation.
Mercer’s Cost of Living Survey, which is considered one of the world’s most comprehensive, uses New York City as a base, and compares all 209 destinations worldwide against it, measuring currency fluctuations to the US dollar. The data collected from these surveys are of paramount importance to major companies that use the knowledge to map out appropriate allowances to protect the purchasing power of their expatriate population.
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