How Much Do Indian Metros Spend On Rents, Dates, Holidays and Transport?
Where does India rank in the global list of top performing cities? A recent study by Deutsche Bank came out with some interesting observations. Three Indian cities have featured on the list of 47 and here's what you need to know about them:
Quality of life
Take a guess. Wellington might top the chart when it comes to the quality of life it offers to the Kiwis but Bengaluru at spot 34, Delhi at 41 and Mumbai at 45 features in this list, too. The methodology used to calculate is an empirical measure and calculated by aggregating aspects such as consumer purchasing power, regional crime and safety, overall quality of health care availability, general cost of consumer goods, housing affordability, traffic congestion and commute times, overall pollution and regional climate likeability.
Let's break it down further.
Salaries
On an average, those living in Mumbai (38th position) make $788 per month; those working in Bengaluru (40th position) make $760 per month; those working in Delhi (44th position) grabs $654. Zurich, San Francisco, Boston and New York are the cities you should be eyeing if you are looking for high remuneration. Salaries in these cities could go as high as $4,000-5,800 a month.
Rental values
Cost of renting a 2-bedroom unit in Mumbai is high at $592 per month, almost comparative with the salaries that Mumbaikars are making. In Delhi, it is at $470 while Bengaluru is the cheaper in the lot at $296.
After rents, how much money can people spend?
The study assumes that two people are working and sharing an accommodation. The disposable income index is calculated herein after tax income less monthly rents per individual renter of a 2-bedroom apartment. Bangaloreans (35th position) would have more at hand with $612 while Mumbai (39th position) follows with $492. Delhi (41st position) is much below with $419. Zurich, Boston and San Francisco have more in their kitty and occupy the top slots while Rio de Janerio, Jakarta and Manila are at the bottom of the list.
How much do cities spend on fun?
Deutsche Bank also calculated what it is to enjoy a weekend holiday of two nights at a standard 5-star hotel room, two pub meals for two, two restaurant dinners for two, car rentals for two days, two pints of beer, four liters of soft drinks/water and a bit of shopping (purchase of a pair of jeans and a pair of sports shoes) . Milan, Copenhagen and Zurich are at the top of the list. Those from Mumbai would be spending $864 on such a getaway; Bengaluru is close behind at $844 and Delhi follows at $782, occupying the 41st, 42nd and 46th positions, respectively.
How much does it take to date in your city?
If you were in Zurich, Oslo or Tokyo, you would have had to spend about $190 on an inexpensive date. The study assumes that an inexpensive date would mean cab rides, dinner/lunch for two at a pub or diner, soft drinks, two movie tickets and a couple of beers. Among Indian states, dating in Mumbai is relatively expensive with $50.7, followed by Bengaluru at $46.7 and then Delhi at $44.4.
5-star hotels
Did you know, opting for a 5-star hotel in Mumbai and Bengaluru is costlier than that in Frankfurt, Ottawa and Wellington? Similarly, opting for a 5-star in Delhi is expensive than going for it in places like Johannesburg, Kuala Lumpur, Athens, Brussels, Lisbon, Manila, Warsaw and even Istanbul. For a 5-star hostel, you have to pay as much as $268.5 in Mumbai, $263.6 in Bengaluru and $227.7 in Delhi.
Public transport
If you were in London, Dublin or Auckland, you may perhaps not have liked your monthly bills on public transport. Not so in India. In 2017, taking a public transport in Bengaluru cost $27.7, closely followed by Delhi at $20.6. The bills are the cheapest in Mumbai, at $14.6.
*A dollar is equal to Rs 64.80 as on March 2017.