London is officially the most expensive city for remote workers, costing over £23,755 in essential expenses!
A new study by Capital on Tap reveals the most cost-effective cities where businesses can maintain the happiest working from home staff by analysing the cost of living vs. average income in over 60 countries.
The COVID-19 pandemic has forced companies across the globe into remote working, and it looks to be staying this way for the foreseeable future. It’s now clear that the cost of office space should no longer be a priority for businesses who are looking to use their resources to improve working from home conditions for employees.
In this study, Capital on Tap reveals the best and worst cities for saving money whilst remote working by analysing the cost of living including rent, bills, wifi and food versus the average salary to uncover where remote workers are the most well-off and where they struggle the most.
London Is the Most Expensive City for Remote Working Happiness
With the appeal of London’s bustling city slowly deteriorating, are the costs of working in the capital really worth it anymore?
The study revealed the city is officially the most expensive location for remote workers with overall WFH costs totalling £23,755 per employee a year. With an extortionate average annual rent cost at £17,796 and an average salary of £33,914, remote workers are left with only £10,159 for non-essential purchases making it a pricier option for employers looking to compensate their working from home employees.
Hong Kong, Singapore and Geneva are the next most expensive options for remote workers, with expensive living costs above £19,573 a year and high taxes mean less disposable income for employees to put towards their mental health and wellbeing. Businesses in the following cities should reevaluate and implement the necessary health and wellbeing budgets to ensure the best staff productivity at home!
Top 10 Most Expensive Cities For Remote Worker Happiness
| Rank | City | Average Salary | Rent | Bills | WiFi | Drinks | Eating Out | Food | Transport | Gym | Disposable Income | Cost of Remote Worker Happiness |
| 1 | London | £33,914 | £17,796 | £2,051 | £384 | £211 | £360 | £1,719 | £728 | £505 | £10,159 | £23,755 |
| 2 | Hong Kong | £27,465 | £17,937 | £1,957 | £231 | £473 | £266 | £699 | £584 | £708 | £4,608 | £22,856 |
| 3 | Singapore | £31,468 | £16,367 | £1,009 | £291 | £534 | £233 | £627 | £800 | £910 | £10,695 | £20,773 |
| 4 | Geneva | £56,041 | £13,427 | £2,004 | £589 | £490 | £500 | £905 | £800 | £859 | £36,468 | £19,573 |
| 5 | Dublin | £24,697 | £12,294 | £1,575 | £547 | £378 | £324 | £559 | £1,296 | £468 | £7,258 | £17,440 |
| 6 | Washington DC | £32,448 | £11,302 | £1,471 | £598 | £339 | £252 | £824 | £660 | £345 | £16,657 | £15,791 |
| 7 | Reykjavík | £26,582 | £11,113 | £902 | £583 | £574 | £473 | £671 | £864 | £496 | £10,905 | £15,676 |
| 8 | Amsterdam | £26,537 | £10,635 | £1,795 | £424 | £308 | £324 | £537 | £918 | £326 | £11,272 | £15,266 |
| 9 | Abu Dhabi | £23,930 | £9,770 | £1,491 | £914 | £637 | £250 | £483 | £599 | £680 | £9,106 | £14,825 |
| 10 | Canberra | £31,036 | £9,852 | £1,455 | £483 | £360 | £294 | £643 | £996 | £438 | £16,516 | £14,521 |