New York City is among the worst global cities for expats, but it continues to have a strong hold on people seeking a new life abroad.

New York ranked 39th out of 49 global cities for foreigners based on social, financial and career factors, according to the latest report from the online community Internations, which surveyed over 12,000 individuals living in 172 countries or territories around the world.

The Big Apple's slide from its 16th placement in 2022 is "one of the most significant falls in expat eyes," according to the report, in part due to a big jump in people saying they're unhappy with the high cost of living. Roughly 2 in 5 expats (39%) say their disposable household income in New York is not enough to lead a comfortable life (versus 27% of expats who feel that way globally), and roughly 1 in 3 (34%) are unhappy with their financial situation (versus 22% globally).

New York ranks second-to-last on personal finance factors, just ahead of Vancouver.

The largest U.S. city, which ranked No. 3 for working abroad in 2022, also lost popularity for its work opportunities in the last year. Expats in New York are especially dissatisfied with their job security and work-life balance this year.

New York isn't alone in being a popular destination for newcomers despite its challenges. Among the 10 worst cities for expats this year are Paris (41st), London (42nd) and Berlin (45th).

"One main problem with the big cities is that expats are less and less able to afford them," says Malte Zeeck, CEO and co-founder of Internations. "What might seem surprising at first glance has to do with the rising costs of living, a decreasing quality of life, worsening work conditions and increasing hurdles to making friends in those big cities."

It's not all bad, though: New York ranks highest for its leisure options thanks to its world-class parks, museums, restaurants, historical landmarks and other cultural attractions.

Overall, the Expat Insider rankings are based on how expats feel across five main categories, including quality of life (like leisure options), ease of settling in (like how easy it is to make friends), working abroad (including work-life balance factors), personal finance (which covers the cost of living), and an overall "expat essentials" category that evaluates things like how easy it is to secure a visa or open a bank account.

The top three best global cities for expats are in Spain: Malaga, Alicante and Valencia.

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