Cost of living in city cheapest for a decade – study

THE cost of living in Cardiff for expatriates is now the cheapest it has been for at least a decade as a result of the pound’s plunge since the Brexit vote, a survey has shown.

The latest global Cost of Living rankings by ECA International reveal that British cities – including Cardiff – have fallen dramatically by up to 68 places and out of the top 100 globally. It marks their lowest ever recorded ranking in the 10 years the survey has been running, as the Brexit-battered pound makes everyday items more affordable for overseas people coming to live in the UK.

Cardiff is at an all-time low in the rankings at 175, down from 90 just two years ago and 123 last year.

London has had a similar drop, at 132, down from 65 last year, and now sitting just above Addis Ababa in the global rankings and has been overtaken by Rio de Janeiro, ranked 88th, Bangkok in 116th place and Dublin at number 120.

The bi-annual report by ECA weighs up the cost of living in over 460 locations across the world, comparing the cost of a basket of like-for-like consumer goods and services commonly purchased by international assignees.

The survey is designed to help businesses and governments to ensure their employees’ spending power is maintained when they are sent on international assignments.

Steven Kilfedder, ECA’s production manager, said: “Thanks to the weakened pound UK businesses are paying more to send staff to work overseas, but it is cheaper to bring staff to the UK.

“UK locations have seen the most dramatic decline in Europe this year and the fifth largest decline in the world – behind cities in Sierra Leone, Nigeria, Egypt and Ghana in Africa,” he added.

Edinburgh has fallen to 165th and Belfast has dropped to 186. Meanwhile, Manchester and Glasgow have both leapfrogged Cardiff, at 173 and 174 in the rankings respectively.