Rocketing rents make Dublin the second most expensive city in the eurozone for ex-pats

The Irish capital is becoming a more pricey option for foreign workers...

Rocketing rents make Dublin the second most expensive city in the eurozone for ex-pats

Miguel Mendez

A new study has named Dublin the 47th most expensive city in the world for expats to live in, making it the second most expensive in the eurozone behind only Paris (44th).

Hong Kong tops the list, while Swiss capital Zurich is the most expensive European city, in third place.

Geneva is 8th and Bern comes in at 13th - meaning that the three most expensive European cities are in Switzerland.

New York is 11th and London is ranked as the highest non-Swiss European city in 17th.

The survey was carried out by Mercier to assist companies when calculating pay packets for workers in different territories.

Mercer Ireland principal Noel O'Connor commented on Dublin's rise, "As the economy has improved, greater foreign direct investment has put increased pressure on the availability of rental accommodation for expatriates in Dublin."

Ilya Bonic, senior partner at Mercer, reflected on the broader trends in the results:

"Despite technology advances and the rise of a globally connected workforce, deploying expatriate employees remains an increasingly important aspect of a competitive multinational company’s business strategy.

"However, with volatile markets and stunted economic growth in many parts of the world, a keen eye on cost efficiency is essential, including a focus on expatriate remuneration packages. As organizations’ appetite to rapidly grow and scale globally continues, it is necessary to have accurate and transparent data to compensate fairly for all types of assignments, including short-term and local plus status," he continued.