Wednesday, July 09 14:08:46
Dublin rose ten places to 51st in the world in terms of cost of living due to currency shifts and the rising cost of accommodation, Mercer's annual Cost of Living survey for expatriates showed today.
According to Noel O'Connor, Senior Consultant for Mercer, Global Mobility is a significant undertaking for multinational companies so a real understanding of the issues and costs involved in relocating staff to other countries is essential.
"Despite moderate price increases in most of the European cities, European currencies for the most part slightly strengthened against the US dollar, which pushed most Western European cities up in the ranking. There have also been some increases in accommodation costs due to strong demand for rentals, which has also been behind upward movement in rankings for a number of European cities," he said.
"Dublin's move up ten places in the 2014 Cost of Living survey primarily reflects both of these factors," Mr O'Connor said.
Asian and European cities continue to dominate the rankings as the costliest cities for expatriates with Hong Kong in third place, followed by Singapore. Four European cities remain in the top 10 list of most expensive cities. Zurich (5) is the most costly European city on the list, followed by Geneva (6) and Bern (8). London (12) is the most expensive location for expatriates in the UK followed by Birmingham (90), Aberdeen (94) Glasgow (108) and Belfast (120).