Rent costs are the biggest reason that Dublin has jumped to the top and now wears the crown as the most expensive city in the euro area (zone). In doing so, it sits above places like Paris, Munich, Madrid, Rome, Amsterdam and Belgium.
Within Europe, the Irish capital is ranked sixth in cost of living behind Zurich, Bern, Geneva, London and Copenhagen. Globally, it now sits at 46th in the latest cost of living survey by Mercer, which looks at 209 different cities across five continents and compares more than 200 items in each location including housing, transportation, food, clothing and entertainment.
Mobility programs leverage this data for calculating allowances that support expatriates while they are on assignment. Many programs are reviewing cost-of-living due to the effects of COVID-19 across the world. For more regarding how companies establish and revise the goods and services differential — also known as a cost of living adjustment (COLA) — try this Relo Tip Tuesday video.
And for more on how to set expats up for success in Dublin, check out this report.
The Irish capital was ranked 46th globally in an annual cost of living study of cities by pay and pensions specialist Mercer, but sixth in Europe behind Zurich, Bern, Geneva, London and Copenhagen. However, in terms of the euro area, Dublin was found to be the most expensive, primarily because of high rents, which are now on average over €2,000 a month in the capital.