European cities are becoming cheaper places to live for expat workers, according to new research.
Mercer, a global leader in consulting and investment services, reported that Paris, Rome and Amsterdam have all become cheaper to live and work in.
For example, in Paris, the rent for an unfurnished, two-bedroom luxury property is £1,964, which is a three per cent fall over the past year.
The savings are significant for expats and the companies they work for. Since May, the euro has fallen in value by 16 per cent, which is dramatic by anyone’s standard.
At the other end of the scale, the study reported, Tokyo has become one of the most expensive cities for expats to live in, with Australian and New Zealand cities also shooting up the league.
One of the reasons for the rising cost in the Asia-Pacific region is the perceived dwindling power of European economies. In stark contrast, the booming economies of Asian countries has pushed up prices in all areas.