Foreign firms more willing to send employees to Dublin (July 8th, 2009)
July 8, 2009 at 12:25 pm Leave a comment
International companies could soon be more likely to station employees in Dublin due to the plummeting cost of living here, according to an annual study published this month. The Mercer survey of almost 150 capitals shows that Dublin has lost its spot in the ‘top twenty’ of the world’s most expensive cities since last year, and now is ranked at 25th place. The survey lists Toyko as the world’s priciest city, with Johannesburg taking the wooden spoon.
The analysis helps multinationals estimate wage rates for international employees in order to decide where to post them for work. It compares the cost of over two hundred categories in each city, from accommodation to food, clothing, fuel and entertainment.
Senior consultant for Mercer Noel O’Connor said the main reason for the steep fall in the cost of living here is the weakening of the euro against the dollar. Other factors include dropping rents and food prices.
He also pointed out that while the cost of living is falling here compared to cities across the globe, Dublin is ranking high in terms of its quality of life. A study published by Mercer earlier this year put Dublin ahead of Toyko, New York, Paris and Barcelona as a more enjoyable place to live.
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