London is the fourth most expensive city for expats in a global study

London retained its position as the fourth most expensive city for expats in a global cost of living survey.

New York in United States took first place in long-term studies, overtaking Hong Kongwhich previously held the top spot for four years but was relegated to second place in 2023.

The annual report was produced by ECA International, which compared the costs faced by expats around the world in 207 cities.

Geneva in Switzerland According to the study, it remains the most expensive place in Europe and the third most expensive in the world for expatriates.

Elsewhere in the UK, Birmingham (115th), Cardiff (118th) and Belfast (123rd) are outside the top 100 most expensive cities in the study, with Birmingham falling 16 places, just one place above St. Petersburg, Russia.

Edinburgh is ranked 90th, up from 83rd last year. This makes it the second most expensive city in the UK in the ranking, after London.

Stephen Kilfeder, head of manufacturing at ECA International, said: “The cost of living crisis in the UK continues, with prices rising primarily on the back of food, utilities and house prices.

“Despite these challenges, all UK cities except London experienced declines in global rankings.

“This can largely be attributed to the weakness of the pound, which has made the country cheaper for people coming to the UK from other countries.”

ECA International conducts research to help companies estimate the cost of living around the world as part of the salary calculation for cross-border moves.

The cheapest place for expats was Karachi, Pakistan, in 207th place.

In Europe, the cheapest place is Skopje, Macedonia, ranked 197th in the world, followed by Timisoara, Romania (193rd in the world).

Dublin has risen six places this year to 38th place, the study’s authors say.

The surveys compare a basket of commonly purchased consumer goods and services, such as staple foods including coffee, sugar and eggs, as well as household goods and transportation. Housing data is also taken into account when comparing rents.

Here are the 10 most expensive places for expats in 2023, according to the study, with the 2022 ranking in parentheses:

1. New York (2)

2. Hong Kong (1)

3. Geneva (3)

4. London (4)

5. Singapore (13)

6. Zurich (7)

7. San Francisco (11)

8. Tel Aviv (6)

9. Seoul (10)

10. Tokyo (5)