Dublin enters top 100 most expensive cities in the world
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Dublin enters top 100 most expensive cities in the world

DUBLIN is now the 72nd most expensive city in the world, overtaking the likes of Abu Dhabi and Silicon Valley.

The cost of living in Dublin has seen it move up 48 places from 120th last year, according to a report by global mobility experts ECA International (ECA).

It is the first time the Irish capital has been in the top 100 since 2014.

“Thanks to the strength of the euro, Dublin is one of 18 European cities to enter the top 100 most expensive cities in the world this year,” said Steven Kilfedder, ECA Production Manager.

Belfast however remains the cheapest city in Britain.

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Central London has risen 23 places to 109th, having dropped out of the top 100 last year for the first time in over a decade.

7,000 per cent inflation

Although Manhattan (30th), Honolulu (40th) and New York City (46th) remain in the top 50, the drop in value of the US dollar has caused cities across the US to fall in the rankings.

Greenwich (105th), Las Vegas (107th) and Boston (108th) each fell out of the top 100 most expensive cities for the first time in four years.

“The weakness of the US dollar in the face of slower than expected tightening of monetary policy has made the US cheaper for foreign workers and also made it more expensive for US citizens moving abroad,” said Kilfedder.

Venezuelan capital Caracas was the most expensive city in the world, with the country's volatile economic situation seeing inflation reaching 7,000 per cent in the year to March 2018 and 1,800 per cent over the last six months alone.

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Venezuela is experiencing economic turmoil (Image: Getty)

The rest of the top five was comprised of Swiss cities – Zurich (2nd), Geneva (3rd), Basel (4th) and Bern (5th).