Dublin has dropped 15 places in a list of the world’s most expensive cities to live in.
The capital dropped to 58th place in the annual list compiled by Mercer, down from 42nd in 2010.
However Dublin remains in the top 15 most expensive cities in the EU with a ranking of 13 (down two places from 2010) out of 40 EU cities included in the survey.
Luanda in Angola is the world’s most expensive city for expats for the second year running, with Tokyo second and N’Djamena in Chad in third place. Moscow follows in fourth position with Geneva in fifth and Osaka in sixth. Zurich jumps one position to rank seventh, while Hong Kong drops down to ninth.
Down one place from last year, London (18) is the UK’s most expensive city, followed by Aberdeen (144), Glasgow (148) and Birmingham (150). Belfast (178) is ranked as the UK’s least expensive city.
Dublin’s drop in ranking was due to a combination of exchange rate fluctuations between the dollar and the Euro, and in increase in the price of goods in the base city, New York, said Noel O’Connor, of Mercer.
“In Dublin, prices for expatriate rental accommodation have remained stable in the last 12 months,” Mr O’Connor said.
“Global mobility is an expensive undertaking for companies and the cost of housing – often the biggest expense for expats – plays an important part in determining an expatriate's overall relocation package.”
Because the survey was conducted in March, the VATrate reduction introduced by the Government on July 1 was not a factor in the results.
The survey covers 214 cities across five continents and measures the comparative cost of over 200 items in each location, including housing, transport, food, clothing, household goods and entertainment.