We are very shocked.

Jumping ten places from last year in Mercer's 2024 cost-of-living city ranking to 41st, it's a wonder how it took this long to break the top 50.

Including 226 locations across the world, the index measures the comparative cost of more than 200 items in each location, including transport, food, clothing, household goods and entertainment.

Hong Kong won top spot, retaining its place from last year, followed closely by Singapore, Zurich, Geneva and Basel to round of the top 5.

No other cities in the Republic of Ireland made it into the list, but Belfast finished 87th in the top 100.

Dublin jumps into top 50 most expensive cities in the world

London finished 8th on the list - a jump on nine places from last year, with New York finishing 7th.

Other major European cities to finish ahead of Dublin were the likes of Berlin (31st), Amsterdam (30th) and Paris (29th).

Four Swiss cities, Zurich, Geneva, Basel and Bern, all made the top ten rankings.

The cost of housing is a major factor in the Cost of Living rankings, with most of the top 10 experiencing increases of between 3% and 8%.

Mercer said that while Dublin was ranked higher this year, the cost of living remains relatively stable, with prices still relatively low compared to other locations.

"Cost-of-living challenges have had a significant impact on multinational organisations and their employees," said Yvonne Traber, Mercer's Global Mobility Leader.

"It is important for organisations to stay informed about cost-of-living trends and inflation rates and seek input from employees on these issues to effectively manage their effects," she added.

The top ten most expensive cities in the world are as follows:

1. Hong Kong, Hong Kong
2. Singapore, Singapore
3. Zurich, Switzerland
4. Geneva, Switzerland
5. Basel, Switzerland
6. Bern, Switzerland
7. New York City, USA
8. London, UK
9. Nassau, Bahamas
10. Los Angeles, USA

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