Lima ranked fourth among the most expensive cities to live and work in South America – along with Rio de Janeiro (Brazil) -, revealed the Annual Cost of Living Survey 2019, prepared by Mercer.
This report evaluates various variables such as inflation, the appreciation or depreciation of the local currency, and the prices of goods and services fluctuations, as well as transport, clothing, entertainment and others.
“For Gabriel Regalado, CEO of Mercer Peru, this result is explained -in part- by the strength of the soles”, Gestión said.
In addition, multinational companies focus on moving their operations to the main cities in order to boost their businesses. They also evaluate variables that directly influence the cost of living in these cities.
“That is why, he explained, that Lima has important challenges in terms of attracting foreign capital because – being an expensive city – it causes companies to see all of Peru as a country where they are required to have good profitability to compensate the cost of living”, Gestión explained.