- Category: News
- Created on Tuesday, 12 June 2012 12:15
- Written by Amstedam Herald
The Mercer Human Resource Consulting index, which compares the cost of living in 214 cities around the world, places the Dutch capital in 57th place, seven places lower than last year.
The index is designed to compare the relative cost for expats of moving to a new city. International companies use it to measure the cost of relocating employees around the world.
Two years ago Amsterdam was ranked 35th, but Europe’s economic crisis and falling house prices have driven its rating below Kinshasa (DR Congo), Yangon (Burma) and the Eurovision host city Baku, in Azerbaijan.
“Amsterdam has fallen on the list mainly because other cities have become more expensive more quickly,” said Manon Gerritsen of Mercer.
The Mercer figures, which take New York as their benchmark, are strongly influenced by the cost of housing and the movement of a country’s currency against the US dollar.
The weakness of the euro has pushed cities across the eurozone down the list, with Paris (37th), Rome (42nd), Vienna (48th) and Brussels (71st) all falling by between seven and 13 places.
Moscow is the highest ranked city in Europe, in fourth place, followed by Geneva and Zurich. The strength of the Swiss franc has pushed Switzerland’s cities up the rankings, with Bern in 14th place.
Mercer ranks Tokyo as the most expensive city in the world for expats, replacing the Angolan capital Luanda.