Dublin has risen to 16th spot in a list of the most expensive European cities for expatriates while London has fallen 57 places in the global rankings following the UK's vote to leave the European Union earlier this year.
London is now just outside the top 100 most expensive cities in the world, according to ECA International’s Cost of Living survey, making it cheaper than Paris, Berlin and Brussels thanks to the decline of sterling since the Brexit referendum result in late June.
"This is the first time central London has not featured in the top 100 since ECA's Cost of Living rankings began. The weakened pound means that UK businesses are paying more when sending staff to work overseas, although it is cheaper to bring staff to the UK", said Steven Kilfedder, production manager, with the research firm.
UK cities have seen the largest declines in our European rankings this year and the third largest decline in the world, behind Nigeria and Mozambique. Edinburgh has fallen to 151st place globally, down from 67th last year. Cardiff is now ranked at 162nd place and Belfast has dropped 73 positions to 169th in 2016.
Costliest city
Zurich has dropped three places in the list of most expensive locations behind Tokyo and Luanda but ahead of Geneva and Yokohama. However, the Swiss city remains the costliest city in Europe followed by Geneva, Basel, Bern and Oslo. Dublin was ranked in 16th place in Europe, up from 22nd a year earlier. Central London is one spot below the Irish capital, having fallen 8 places since 2015.
The relative strength of the euro between surveys has seen most euro zone locations rise in the global rankings with French, Dutch and German ones among those jumping most in the past year. The weakening of the Norwegian krone meanwhile contributed to Oslo’s continued fall down the rankings – it was the world’s second most expensive location for expatriates when surveyed in 2014; but is now in 14th spot.
Moscow rose nearly 50 places in the rankings this year, to 118th in the world, after the rouble strengthened. However, five years ago it was ranked 17th globally.
Tokyo rose by 11 places over the past year to top the global rankings for the first time since 2012. Three other Japanese cities are included in the global top 10.
Not surprisingly, Manhattan is the most expensive location in North America for expatriates. However, it has fallen to 24th place globally from 15th spot a year earlier.
