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Belfast ranked as one of the most affordable cities in the world

26th Jun 2019

BELFAST is one of the most affordable cities in the world according to an annual survey.

The latest Mercer report shows Belfast has fallen six places to 158th place in the rankings of the most expensive cities to live.

Several UK cities, including London, have also tumbled down the rankings, but Glasgow bucked the trend by climbing three places over the year to 145.

Dublin was at 43, falling from 32 last year

The strengthening of the US dollar against the pound is the main reason for UK cities tumbling down the list, according to the report - which said despite concerns over Brexit it remains an attractive destination for organisations looking to relocate staff.

The study aims to help multinational companies and governments determine compensation allowances for their expatriate employees.

It measures the comparative cost of more than 200 items in locations around the world, including housing, transportation, food, clothing, household goods, and entertainment.

The costliest city in the world for the second year in a row was identified as Hong Kong, in first place.

It was followed by Tokyo, Singapore and Seoul, with Zurich placed fifth.

 

New York was in ninth place, with Moscow at 27, Paris at 47 and Sydney at 50. Rome was at 55, while Brussels was at 77, with Melbourne at 79 and Berlin at 81, followed by Madrid at 82.

The world's least expensive city for expatriates in the survey was identified as Tunis in Tunisia in last place at 209, followed by Tashkent in Uzbekistan (208), and Karachi in Pakistan (207).

"UK cities' fall in this year's ranking is mainly due to a strengthening of the US dollar against the pound," said Kate Fitzpatrick, Mercer global mobility practice leader, UK and Ireland.

"Price inflation remains low, keeping any increases in the cost of living to a minimum for expatriates and locals alike."

She continued: "The UK remains an attractive destination for organisations looking to relocate personnel to international business and financial centres, in spite of well-publicised macro headwinds, including Brexit."

 

Source: Irishews