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08/07/2009
Survey Reveals Dublin Out Of Top 20 Expensive Cities
Dublin has dropped out of the world's top 20 most expensive cities, according to a survey released yesterday.
The Worldwide Cost of Living Survey, published by consultants Mercer, saw Dublin drop to 25th due to falling rents and the recovery of the dollar.
The survey, which covers 143 cities, across six continents, measures the comparative cost of over 200 items in each location, including housing, transport, food, clothing, household goods and entertainment.
According to the publishers it is the world’s most comprehensive cost of living survey and is used to help multinational companies and governments determine compensation allowance for their expatriate employees.
Cities in the US, China, Japan and the Middle East surged in the ranking, with New York a new entry in the top 10, jumping from 22nd to 8th place, while Beijing is now in 9th place, up from 20th in 2008.
Japan now has two cities in the top 10 and Dubai has climbed 32 places to reach 20th.
Nathalie Constantin-Métral, a senior researcher at Mercer, said: "As a direct impact of the economic downturn over the last year we have observed significant fluctuations in most of the world’s currencies, which have had a profound impact on this year’s ranking.
"Many currencies, including the Euro and British pound, have weakened considerably against a strong US dollar causing a number of European cities to plummet in the rankings."
Dublin is now flanked by Guangzhou China in 24th position and Abu Dhabi in the United Arab Emirates in 26th.
(DW/BMcC)
The Worldwide Cost of Living Survey, published by consultants Mercer, saw Dublin drop to 25th due to falling rents and the recovery of the dollar.
The survey, which covers 143 cities, across six continents, measures the comparative cost of over 200 items in each location, including housing, transport, food, clothing, household goods and entertainment.
According to the publishers it is the world’s most comprehensive cost of living survey and is used to help multinational companies and governments determine compensation allowance for their expatriate employees.
Cities in the US, China, Japan and the Middle East surged in the ranking, with New York a new entry in the top 10, jumping from 22nd to 8th place, while Beijing is now in 9th place, up from 20th in 2008.
Japan now has two cities in the top 10 and Dubai has climbed 32 places to reach 20th.
Nathalie Constantin-Métral, a senior researcher at Mercer, said: "As a direct impact of the economic downturn over the last year we have observed significant fluctuations in most of the world’s currencies, which have had a profound impact on this year’s ranking.
"Many currencies, including the Euro and British pound, have weakened considerably against a strong US dollar causing a number of European cities to plummet in the rankings."
Dublin is now flanked by Guangzhou China in 24th position and Abu Dhabi in the United Arab Emirates in 26th.
(DW/BMcC)
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