By Vicky Shaw, PA Personal Finance Correspondent
A consulting company has ranked Dublin as the fourth most expensive city in the euro zone to live for expatriate workers, primarily due to Ireland’s housing crisis.
Dublin's ranking by global workforce adviser Mercer also bills it as the 39th most expensive city in the world, up seven spots from last year on the list of more than 200.
Belfast moved up one place on the ranking to 148, from 149 in 2020.
The Danish capital Copenhagen (16th) is the most expensive ranked EU city but Paris in 33rd is the highest ranked city in a country that uses the euro.
Milan (36th) and Vienna (37th) are also ranked as more expensive for expats than Dublin.
London was placed 18th, edging up by one place from number 19 last year, while Birmingham was ranked at 121, moving up by eight places from 129 in 2020.
Aberdeen was placed at 128, moving up the rankings from 134 in 2020, and Glasgow was up by 10 places to reach 131, from 141 last year.
The list, compiled by Mercer, measures the comparative cost of more than 200 items in 209 cities across the world.
The data can be used by employers to calculate compensation packages for employees living and working overseas.
Noel O’Connor, senior consultant at Mercer, said: “Dublin, which recorded deflation during the year, didn’t climb as sharply as other euro zone cities like Paris, Vienna, Amsterdam and Rome where official inflation caused faster price rises.
“One of the factors influencing Dublin’s ranking is the cost of rental accommodation. High demand, coupled with supply constraints in the private rental market, mean some expatriates have difficulty finding appropriate rental accommodation, often the biggest cost for companies placing employees on assignment.”
This year’s survey found that Ashgabat, Turkmenistan, was the most expensive city, pushing Hong Kong from first place last year into second place, while Beirut surged by 42 positions to become the third most expensive city, from number 45 in 2020.
Tokyo was placed fourth.
Placed at number five in the global rankings, Zurich remained the most costly European city, followed by Geneva (eight) and Bern (10).
New York, in 14th place, was ranked as the most expensive city in the United States, falling by eight positions since last year when it was at number six.
