Spain among Europe?s cheapest countries for expats

Expats looking for a cheap cost of looking should head for Spain, after the country was named as one of the cheapest places for foreigners to live in the EU.

The latest global rankings from international consulting company Mercer showed that expat workers in the Iberian country’s two largest cities, Madrid and Barcelona, have enjoyed a fall in the cost of living compared to their counterparts in many other cities around the world because of the euro’s weakness.

The capital Madrid dropped to 115th this year from 63rd in 2014 on the costliest cities for expats to live in, while Barcelona fell from 71st last year to 124th this time out.

The two cities featured in Western Europe’s 10 least expensive cities to live in, with Leipzig in Germany being the cheapest.

The Mercer study – which looks at factors including housing costs, food, transportation and clothing – noted that the Eurozone’s economy, rising unemployment and falling interest rates all contributed towards the decrease in living costs.