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Dublin ranked highest Eurozone city in cost of living survey

Written by Robert McHugh, on 26th Jun 2019. Posted in General

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Dublin remains highest ranked Eurozone city in Mercer cost of living survey. The figures for Mercer’s cost of living and rental accommodation cost comparisons are derived from a survey conducted in March 2019. Exchange rates from that time and Mercer’s international basket of goods and services from its Cost of Living Survey have been used as base measurements.

Dublin (43) moves down 11 places but remains the highest ranked Eurozone city followed by Milan (45) and Paris (47) Vienna (51), Rome (55) and Amsterdam (58). Western European cities have dropped in the rankings this year due to weakening currencies against the US dollar. The Swiss cities of Zurich (5); Bern (12) and Geneva (13) lead as the most costly cities in Europe.

Hong Kong is the most expensive city in the world for expatriates followed by Tokyo (2) and Singapore (3). Eight out of the top ten are Asian cities.

In the UK, London (23) ranks highest followed by Birmingham (135), Aberdeen (137), Glasgow (145) and Belfast (158). 

According to Mercer's 2019 Global Talent Trends report, 65% of employers across all industries and countries are using mobility programs to enhance their workforce strategies. As a result, multinational organisations are carefully assessing the cost of expatriate packages for their international assignees.

Mercer’s 25th annual Cost of Living Survey finds that a number of factors, including currency fluctuations, cost of inflation for goods and services, and volatility in accommodation prices, contribute to the overall cost of expatriate packages for employees on international assignments.

Commenting on the survey results, Senior Consultant at Mercer, Noel O’Connor said, "One of the main factors influencing Dublin’s high ranking relative to other Eurozone cities, is the cost of rental accommodation. High demand coupled with supply constraints in the private rental market mean that expatriates may face serious problems finding appropriate rental accommodation, often the biggest cost for companies placing employees on assignment."

Source: www.businessworld.ie

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