Cost of Living in Europe is now more affordable according to the latest Cost of Living Survey by ECA International. Europe is now accounts for less than a fifth of the world’s top 100 most expensive cities due to weakened euro.
Europe now accounts for less than a fifth (19 percent) of the world’s most expensive cities, with 11 European cities dropping out of the top 100.
According to the report from global mobility experts, ECA International (ECA), the weakened euro has caused many major Eurozone cities to fall behind Central London in the cost of living rankings, including Milan in Italy, Rotterdam, and Eindhoven in the Netherlands, Toulouse in France and German cities such as Berlin, Munich, and Frankfurt. Although UK cities* remain steady in the global rankings with Central London at 106th place, the UK capital has risen to the 23rd most expensive city in Europe; up from 34th last year.
Conversely, 25 US cities now feature in the top 100 most expensive in the world, up from only 10 last year, due to the strengthened dollar. Switzerland also holds strong with four cities in the global top ten; with Zurich(2nd), Geneva (3rd) featuring the highest and sit behind only Ashgabat in Turkmenistan.
ECA International’s Cost of Living Survey compares a basket of like-for-like consumer goods and services commonly purchased by international assignees in 482 locations worldwide. The survey allows businesses to ensure that their employees’ spending power is maintained when they are sent on international assignments. ECA International has been conducting research into cost of living for over 45 years.
