Zurich most expensive city to live in europe

Photo: SnippyHollow

The Swiss city ranks third globally, according to ECA International's latest Cost of Living survey.
 
The weakening of the Norwegian Krone in response to the weakened oil sector contributed to Oslo’s tumble down the ranking - the most expensive of the European locations surveyed last year, it has since fallen to 11th position globally.
 
While Central London's 48th position in the global ranking is two spots lower than last year, it marks a significant rise from two years ago when it was outside of the top 80 locations ranked. Although, like many currencies, sterling has weakened against the US dollar between annual surveys, it has strengthened against a number of other major currencies in the past two year.
 
Although prices in Russia have soared since international sanctions were imposed, cities there plummeted down the list of most expensive locations for expatriates. The rouble, also affected by the fall in oil prices, weakened significantly over the twelve months between surveys outweighing price increases. Moscow, in 22nd position a year ago, is 146th in the latest ranking.
 
The euro’s significant depreciation between surveys has seen all Eurozone locations drop down the ranking with Spanish and German locations among those falling hardest. Madrid has fallen from 86th place to 160th while Munich which ranked 54th last year is in 121st position this survey. Elsewhere, Stockholm and Paris have fallen out of the top 30 to 55th and 75th spots respectively.

"To ensure that an employee’s spending power is maintained when they are sent on international assignment, a cost of living allowance is often provided as part of the pay package," says Steven Kilfedder, Manager, Cost of Living and Remuneration Services.

"This allowance will be affected by differences in inflation levels as well as exchange rate movements between that employee’s home and host country."