Dublin has risen 10 spots to be ranked 41st among the 50 most costly cities for expatriate workers to reside, according to an international classification put together by placement firm Mercer. This increase in ranking is largely attributed to the city’s high rental prices. While it lags behind London, ranked 8th and Paris, at 29th, Dublin surpasses huge European metropolises such as Edinburgh, Milan, Rome, and Madrid.
In spite of the jump in ranking, Danny Mansergh, Mercer’s head of career consulting, stated that the cost of living in Dublin stayed fairly steady over the year. With inflation easing, the rise in expat housing and goods and services costs were relatively minimal in Dublin, aligning with the rest of western Europe. “Dublin continues to be an appealing option for expats selecting their assignments,” he remarked.
The list for the year was topped by Hong Kong as the costliest city for international workers, followed by Singapore, Zurich, Geneva and Basle. Mansergh highlighted that cost of living influences multinational firms’ decisions regarding site selection and expansion, as rising inflation trends globally erode purchasing power. The high demand in private rental markets, typically a company’s largest expense when relocating employees, as well as utility costs, offer a challenge for employers of international personnel.
An earlier report by Stepstone Group, which owns the IrishJobs recruitment platform, showed a decrease in Ireland’s appeal to foreign workers due to infrastructure issues such as the housing crisis. Consequently, Ireland’s ranking dropped to 36th compared to 40th the previous year. Still, Dublin maintained its position as the 36th most enticing place for expatriate workers, consistent with the 2021 survey results.
Additionally, the housing crisis was identified as the most significant hindrance to further investment in the State by half of the members of the American Chamber of Commerce Ireland, which includes some of the State’s largest multinational employers, according to a survey conducted earlier this year.
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