The latest Mercer report shows Belfast in 158th place in the rankings of the most expensive cities to live, making the city one of the most affordable places to live in the world! Several UK cities, including London, have also tumbled down the rankings, but Glasgow bucked the trend by climbing three places over the year to 145. Dublin was at 43, falling from 32 last year.
The strengthening of the US dollar against the pound is the main reason for UK cities tumbling down the list, according to the report - which said despite concerns over Brexit it remains an attractive destination for organisations looking to relocate staff.
The study aims to help multinational companies and governments determine compensation allowances for their expatriate employees. It measures the comparative cost of more than 200 items in locations around the world, including housing, transportation, food, clothing, household goods, and entertainment.
Kate Fitzpatrick, Mercer global mobility practice leader, UK and Ireland, said:
UK cities' fall in this year's ranking is mainly due to a strengthening of the US dollar against the pound. Price inflation remains low, keeping any increases in the cost of living to a minimum for expatriates and locals alike. The UK remains an attractive destination for organisations looking to relocate personnel to international business and financial centres, in spite of well-publicised macro headwinds, including Brexit.