However, Ireland’s capital city is not as expensive as London or Paris – both of which ranked as the 17th most expensive places for foreigners to live in.
The latest cost of living survey from Mercer Consulting measures the comparative cost of over 200 items in each location.
The survey – which includes housing, transport, food, clothing and household goods – is used by multinational companies and governments to determine compensation allowances for expatriate employees.
Other expensive European cities include Rome (26), Vienna (28), St Petersburg (30), Amsterdam (35), Baku (36), Istanbul (44), Barcelona (49), Frankfurt (50), Madrid (52) and Lisbon (72).
The least expensive city in Europe is Tirana (200) in Albania, followed by Macedonia’s Skopje (197), Sarajevo (196) in Bosnia Herzegovina, Minsk (192) in Belarus and Belfast (182) in Northern Ireland.
In the United States, New York (27) is the most expensive city followed by Los Angeles (55), while Vancouver (75) is the most expensive Canadian city.
Sydney (24) is Australia’s most expensive city followed by Melbourne (33) and Brisbane (55) while Adelaide (90) is the country’s least expensive city.
Tel Aviv (19) is the most expensive city in the Middle East, followed by Abu Dhabi (50) and Dubai (55).
Tripoli (186) in Libya is the least expensive Middle Eastern location followed by Jeddah (181) in Saudi Arabia and Muscat (176) in Oman.
Senior researcher at Mercer with responsibility for compiling the ranking Nathalie Constantin-Métral, said accommodation costs had continued to decrease in Abu Dhabi and Dubai.
The survey revealed living costs in some African cities could be very high, with Luanda in Angola being among the most expensive places for expatriates to live in.
Ms Constantin-Métral also said people wrongly assumed cities in the developing word were cheap. She said the cost of living in some African cities could be extraordinarily high, particularly accommodation. She said demand for information on African cities had increased across the business spectrum.
In South Africa, Johannesburg and Cape Town rank 151 and 171, respectively. At the bottom of the ranking, Addis Ababa (208) in Ethiopia is the cheapest African city, followed by Windhoek (205) in Namibia and Gaborone (203) in Botswana.