Dublin is the eighth most expensive city in the world in which to live, according to a survey out this week .London was calculated to be the most costly for goods, services and rent, followed by New York, with the Irish capital in eighth place in the survey of 71 major cities. But - Dublin people were found to have the 3rd highest net wages - only beaten by Zurich and Geneva.
.In the cities of western Europe and North America, workers in 14 different professions earned a gross hourly wage average of €14.The study found the winners in the international comparison of wages to be English-speaking Europe, with Dublin and London newcomers to the top 10.The “Prices and Earnings” study carried out by global banking and financial group UBS looked at purchasing power worldwide.The study, which is published every three years, revealed that Dublin had risen to the eighth most expensive city since the survey was last carried out in 2003.The research also compared how long it takes workers to earn enough money to pay for a Big Mac burger.In Nairobi, one and a half hours’ work is needed to buy the burger, while in the US cities of Los Angeles and New York a maximum of 13 minutes’ labour is needed. In Dublin it takes just 15 minutes of work to purchase it.Food costs the most in Tokyo at €560 for a basket of 39 food items, while the basket in Dublin costs €373, €367 in London and €430 in New York.Public transport in general was most expensive in western Europe. While the price of a single ticket for a train journey of 200 kilometres was only €31in Dublin, it was €70.75 in London. In New York it was €40.70.A city break was calculated to be most expensive in London at €915, while it cost €714 in New York and €636 in Dublin.The bill for a three-course restaurant meal was €50 in London, €38.80 in New York and €41.10 in Dublin.
Dublin came out quite well in this survey - showing that prices are not as bad as people think - especially when you take earnings levels into account.