Dubai is world's 34th priciest city for expats

Dubai's Sheikh Zayed Road. The emirate ranks 34th among the 50 most expensive cities in the world for expats.

Dubai has taken the 34th place among the 50 most expensive cities in the world for expatriates, according to a new survey by Mercer Human Resource Consulting.

The emirate - along with Abu Dhabi at number 45 - dropped in the ranking this year because of the UAE dirham's peg to the US dollar, which has depreciated against other currencies. Last year, Dubai was the 25th most expensive city.

However, rental accommodation in Dubai is still on the rise, now averaging almost $3,500 (AED 12,850) per month, according to separate research by ECA International. The price tag makes the emirate the 14th most expensive city in the world for tenants.

The Mercer report's findings are aimed at helping multinational companies and governments determine compensation for expatriate employees.

Moscow took the top spot as the world's most expensive city for the second year in a row, while London climbed three places since last year and beat New York for second place.

Seoul and Tokyo were ranked third and fourth, respectively, while Asuncion in Paraguay is the least expensive city for the fifth year running.

Four cities in the Middle East were in the top 50 most expensive cities this year, with Tel Aviv the most expensive at 17th place.

The cost of international-standard accommodation has also pushed some Asian cities up the ranking. For example, rising property prices have caused Mumbai to jump from position 68 to 52.

The depreciating US dollar saw the decline of most US cities in the ranking, with New York moving down five places to number 15. However the Big Apple remains the most expensive city in North America and is among the only two North American cities - with Los Angeles - in the top 50.

"The change [among ranking of US cities] reflects a reversal of the situation experienced this time last year, when the majority of US cities climbed the ranking due to the strength of the dollar," said Rebecca Powers, a senior consultant at Mercer.

Europe dominated the top 50 as strong currencies helped push most European cities higher this year, placing 30 cities on the list, six of which are in the top ten.

The ‘Cost of Living Survey' by Mercer Human Resource Consulting ranks 143 cities around the world and lists the 50 most expensive according to the cost of housing, transportation, food, clothing, household goods and entertainment.


Top 10 priciest cities in the world:

1. Moscow
2. London
3. Seoul, South Korea
4. Tokyo
5. Hong Kong
6. Copenhagen, Denmark
7. Geneva
8. Osaka, Japan
9. Zurich, Switzerland
10. Oslo, Norway

Source: Mercer Human Resource Consulting

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