The strength of the Swiss franc contributed to Switzerland becoming the most expensive country for expatriates last year, with Swiss cities taking up four of the top five places in the European league table. Central London has moved into the top ten ranking of European cities, occupying ninth position, up four spots from last year, according to the latest ECA cost of living survey.
Other UK cities have also risen in the rankings, with Edinburgh moving to 13th place and Cardiff into 15th position. The euro’s depreciation since a previous survey saw all Eurozone locations dropping down the global rankings last year, with French, Belgian and German cities falling hardest. The rouble, also affected by the fall in oil prices, weakened significantly, with Moscow dropping from 15th to 162nd position in the global league.
Steven Kilfedder, manager of cost of living and remuneration services at ECA, said:
‘The relative strength of the franc has contributed to Switzerland becoming the most expensive country surveyed in both Europe and the world. Despite prices falling in the previous year, Swiss cities have moved to the top of the rankings. The cities that were ranked higher in the September 2014 survey, Luanda, Oslo and Stavanger, have all become cheaper in comparison as their currencies have weakened significantly.’