London Now Cheaper Than Paris, Berlin and Brussels Due to Brexit - Report

London is the 103rd most expensive location in the world for expatriates, down 57 places from last year, according to a new survey, with Tokyo retaking the global top spot and Moscow rising 50 places due to strengthened rouble.

A report by ECA International, a company that provides data on cost of living, salary, accommodation and other factors for international assignees, has shown Central London has fallen out of the top "100 most expensive cities in the world." 

Read highlights from our recent Cost of Living survey & what impact recent global events could have on assignees #HR https://t.co/7lkSgl1g1K pic.twitter.com/RxZFO3FWuS

— ECA International (@ECAintl) December 13, 2016​

"This is the first time Central London has not featured in the top 100 since ECA's Cost of Living rankings began 10 years ago. The weakened pound means that UK businesses are paying more when sending staff to work overseas, although it is cheaper to bring staff to the UK", Steven Kilfedder, Production Manager, ECA International said. 

"London is now cheaper than Paris, Berlin and Brussels thanks to the weak pound," Mr. Kilfedder added.

Brexit sends UK cities tumbling down global rankings due to weaker pound https://t.co/dvqjz4BtBD pic.twitter.com/dYoj1nqW67

— ECA International (@ECAintl) December 14, 2016​

"UK based locations have seen the largest declines in our European rankings this year and the third largest decline in the world, behind Nigeria and Mozambique. Edinburgh has fallen to 151st place globally, down from 67th last year. Cardiff is now ranked at 162nd place and Belfast has dropped 73 positions to 169th in 2016."

​Other highlights

Zurich is no longer the most expensive location in the world for expats, it has fallen off the global top spot this year, moving into 3^rd place in the world rankings. Despite prices falling in the previous year, Swiss cities continue to top the European rankings with all ranked locations placed in the global top 10.

What's new? Check out this infographic summarising our latest survey data updates & expanded coverage #expat #HR: https://t.co/W7aT67oGWx pic.twitter.com/RShQ4bOtWg

— ECA International (@ECAintl) December 15, 2016​

​Moscow has risen nearly 50 places in the rankings this year, to 118^th in the world, after the rouble strengthened. However, it has a long way to go to reach the heights of five years ago, when it was ranked 17^th in the world.