Dublin is now the 34th most expensive city in the world.
Dublin has dropped four places in the rankings since last year, which were compiled by the Economist Intelligence Unit.
At the height of the boom in 2006, Dublin was rated as the world's 16th most expensive city.
Dublin Chamber has welcomed the findings, saying they demonstrate the city is offering good value for money for tourists looking for city breaks.
Tokyo regained its crown as the world's most expensive city, a position it has held for 17 of the last 23 years.
Two other European cities made the top 10 - Oslo in 4th and Zurich in 7th.