ECA International: Zurich tops the list of most expensive European cities for expatriates

The Swiss city of Zurich is the most expensive location in Europe and ranks third globally, according to findings from the latest Cost of Living Survey by ECA International. Meanwhile, the euro’s sharp depreciation has seen all Eurozone locations drop down the ranking with Spanish and German locations among those falling hardest.

ECA carries out two main cost of living surveys per year to help companies calculate cost of living allowances so that their employees' spending power is not compromised while on international assignment. Each survey compares a basket of like-for-like consumer goods and services commonly purchased by assignees in over 440 locations worldwide. Certain living costs, such as accommodation rental, utilities, car purchases and school fees are usually covered by separate allowances. Data for these costs are collected separately and are not included in ECA’s cost of living basket.

Key findings

Shanghai moves into top 10 most expensive locations for expatriates.
Tokyo, which topped the Asia Pacific ranking a year ago has dropped from 11th to 16th globally.
Within Asia Pacific, Shanghai is just ahead of Beijing (9th globally) and Seoul (10th).
Hong Kong, Asia Pacific’s 4th most expensive location for expatriates has entered the top 15, leaping up from last year’s 29th position to 12th place.
While Singapore has remained steady in the regional ranking, maintaining 9th position, it has risen 12 spots to 19th place globally.
Australian locations continue to fall down the ranking – a reflection of the weakened Australian dollar as growth there slows. Sydney currently ranks 57th globally down from last year’s 38th place.
Manhattan is the most expensive location in North America for expatriates.
Buenos Aires is the most expensive location in Latin America.
In Africa, South Sudan’s capital city Juba has now overtaken Luanda, Angola (2nd globally) in the ranking.
In the Middle East, Tel Aviv is the most expensive location, despite falling three spots to 24th place.

Steven Kilfedder, Manager, Cost of Living and Remuneration Services, ECA International, said:

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

ECA International describes itself as the 'world's leading provider of knowledge, information and technology for the management and assignment of employees around the world'. For more information, please visit www.eca-international.com

Visit ECA International's web site to view tables for the 'Top 30 most expensive cities worldwide for international assignees' and 'Most expensive locations in Europe for international assignees': www.eca-international.com/news/press_relea...