Dublin has been ranked the 39th most expensive city to live in for expatriate employees, according to the Mercer 2021 Cost of Living Survey. The survey is designed to help multinational businesses and governments determine the pay rates for expatriate employees.
Senior Consultant at Mercer Noel O’Connor stated that one of the factors that’s influencing the ranking is the cost of rental accommodation while stating, “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,”.
Dublin is now seven places up from where it was ranked last year, falling behind Paris which was ranked at 33rd and Milan at 36th. London ranked 18th, Amsterdam at 44th while Rome ranked at 47th.
The survey revealed that the most expensive city to live in was Ashgabat, the capital of Turkmenistan. Beirut is up 42 places and now ranks 3rd as a result of Lebanon’s largest financial crisis, Covid-19 and the Port of Beirut explosion.
US cities dropped in this year’s rankings due to currency fluctuations between March 2020 and March 2021. New York was ranked as the most expensive US city but has dropped eight places since last year to 14th.
The survey reveals that Western European cities have moved up the rankings this year due to the strengthening of currencies against the US dollar. However, Dublin didn’t climb as sharply as other European cities despite the city recording deflation during the year.