Switzerland always was a very expensive place for foreigners that do not have a Swiss salary or work there because they are not paid with euros. But this year, the small country has become the most expensive place for foreigners because of the strong Swiss franc. Zurich is Europe’s most expensive location for expatriates, according to ECA International, the world’s leading provider of knowledge, information and technology for the management and assignment of employees around the world.
“The relative strength of the franc has contributed to Switzerland becoming the most expensive country surveyed in both Europe and in the world,” said Steven Kilfedder from ECA.
London moves into the European top 10 rankings of expensive cities in Europe due to the strong pound
Central London has moved into the top ten most expensive cities in Europe to 9th position, up four spots from last year. Cities throughout the United Kingdom have climbed the rankings with Edinburgh moving to 13th in Europe, up from 30th last year. Cardiff has also moved into Europe’s top 20 most expensive locations rising to 15th place, up 23 places from 38th position in 2014.
The euro’s depreciation is the reason why Paris has fallen from 47th place to 68th while Munich falls out of the global top 100 to 110th place, down 43 places from last year.
Top 20 most expensive cities in Europe for international assignees
|Country||Location||Europe Rank 2015||Europe Rank 2014||Global Rank 2015|
|United Kingdom||Central London||9||13||45|
|United Kingdom||Outer London||11||26||58|
Top 30 most expensive cities worldwide for international assignees
|Country||Location||Global Rank 2015||Global Rank 2014|
|Democratic Republic of the Congo||Kinshasa||6||11|
|Hong Kong||Hong Kong||9||26|
|United States of America||Manhattan NY||15||38|
|Papua New Guinea||Port Moresby||23||28|
|United States of America||New York NY||28||55|
|United States of America||Honolulu HI||30||52|