What is the most expensive city in the world?

Global mobility company ECA International has released its annual list of the world's most expensive cities to live in.

And once again Hong Kong has landed at the top of the list.

The company calculates the list based on several factors, including the average price of household staples like milk and cooking oil, rent, utilities, public transit and the strength of the local currency.

This is the third year in a row that Hong Kong has claimed the dubious honor of being the world's priciest city on the ECA index. The index specifically focuses on foreign workers and expats in their rankings.

A previous-list topper, New York was the only North American city to land in the top ten.

It is safe to call Asia the most expensive continent, with five cities - Hong Kong, Tokyo, Shanghai, Guangzhou and Seoul - landing in the top 10.

The world's most expensive cities:

Hong Kong
New York
Geneva
London
Tokyo
Tel Aviv
Zurich
Shanghai
Guangzhou
Seoul.