Dublin has been listed in the top 50 most expensive cities in the world for international employees, according to new research.
The Irish capital was ranked 49th in the Mercer Cost of Living Survey, ahead of other European cities such as Luxembourg and Rome.
Hong Kong topped the list, followed by the four Swiss cities of Zurich, Geneva, Basel, and Bern.
New York was ranked as the seventh most expensive city to live in.
London is in 15th place on the list with other UK cities including Edinburgh (66th), Aberdeen (93rd), Birmingham (94th), and Belfast (121st).
The overall Cost of Living Index reflects the prices of over 200 items from categories including transportation, food, home services, and clothing and footwear.
Mercer’s cost of living data together with its mobility research, indicates widespread inflation, exchange rate variations, and the rise of remote and flexible working, are having “a material impact on expatriate employees’ pay and savings”.
The weakening of the euro against the dollar had affected Dublin’s place in the rankings, according to Noel O’Connor, a senior consultant at Mercer Ireland.
“High demand in the private rental market, often the biggest cost for companies placing employees on assignment, along with soaring utility costs, present challenges for employers of international assignees,” he said.
Mr. O’Connor said that “despite the impact of socio-economic headwinds” caused by the pandemic and the war in Ukraine, “Dublin remains an attractive location for expatriates overall”.
The results of the survey come one week after a Lonely Planet guide also pointed out several faults that Dublin has, including soaring hotel and car rental costs and the unlikelihood of being able to grab a seat at some of the capital’s many restaurants without prior booking.
It also pointed out issues facing the city’s airport which have caused havoc in recent months.