The world's most expensive cities to live in have been announced by investment consultancy firm Mercer in their annual Cost of Living Survey.
Contrary to the assumption that Western cities are the most pricey, south-east Asia and Africa feature heavily in the top 19, continuing the trend of emerging markets adjusting to massive outside investment.
Currency fluctuations were taken into account as well as the inflation of basic goods — especially the price of buying and renting local property.
For companies thinking of sending workers abroad, the cost of living in these cities should be a major consideration, Ilya Bonic, president of Mercer’s talent business said.
"With volatile markets and stunted economic growth in many parts of the world, a keen eye on cost efficiency is essential, including a focus on expatriate remuneration packages. As organisations’ appetite to rapidly grow and scale globally continues, it is necessary to have accurate and transparent data to compensate fairly for all types of assignments, including short-term and local plus status."
Keep scrolling to see the world's 19 most expensive cities to live in.
19. Tel Aviv, Israel — We kick off with Israel's second most populous city after Jerusalem. It's also the most expensive city to live in in the whole of the Middle East, probably thanks to its fantastic beach and relative tranquility from the surrounding region.
18. Guangzhou, China — The first of a few expensive Chinese cities on the list, Guangzhou drops three places from last year thanks to a weakening yuan against the dollar.
17. London, UK — As expensive as everyone says London is to live in, this list suggests it could still be worse. If the much-talked-about property crash does happen, expect it to get a lot cheaper soon.
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