International Work Environments Research Paper Example | Topics and Well Written Essays - 750 words

International Work Environments - Research Paper Example It will be pertinent to explore the cost of living in 5 different countries through purchasing power parity point of view to understand how it may affect the wage payments to the managers. This has a base in U.S $1 with the local currency. Purchasing power parity is a good way of calculating how much on aggregate basis he/she will need to spend in that country for the matching living. It is quite possible that some of the components of spending will be expensive and some may be quite low. However, advantage with the purchasing power parity of currency calculations take into account all major spending in that country essential for the living. The factor which is expensive in a particular country can be taken a special consideration while relocating oneself in that country. INDIA: Currently, India is the second fastest developing economy of the world growing at the rate between 7-8 percent. Due to high GDP growth rate job market is thriving with the opportunity. India offers one of the lowest costs of living compared to many other developing economies. Housing costs including rentals, mortgage, and household fuels costs do not offer low cost promise and it is expensive compared to other countries under study that is mainly due to large scale urbanization and burgeoning population. Restaurants and meals outside are relatively less expensive. Groceries, communication, education goes much favorably compared to other countries in study. Russia: Apartments and transportation costs are quite affordable except Moscow and St. Petersburg, where costs may rise 2-3 times more than country side or small cities. Utilities are not expensive and local phone calls are not chargeable. Local Russian style restaurants, bars or cafes are not expensive and does not cost exorbitant prices. Japan: Japan is considered as one of the most expensive country to live in.