Global mobility company ECA International has published its annual list of the most expensive cities in the world to live in and again Hong Kong tops the list.

The company compiles the list based on several factors, including the average price of household products such as 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 is ranked as the most expensive city in the world.

Asia can be confidently called the most expensive continent, with five cities in the Top 10 of the list – Hong Kong, Tokyo, Shanghai, Guangzhou and Seoul.

The most expensive city in Europe is Geneva, Switzerland, which was in third place after Hong Kong and New York. New York was the only North American city to be ranked in the top ten.

20 most expensive cities in the world:

1. Hong Kong

2. New York

3. Geneva

4. London

5. Tokyo

6. Tel Aviv

7. Zurich

8. Shanghai

9. Guangzhou

10. Seoul

11. San Francisco

12. Shenzhen

13. Singapore

14. Beijing

15. Jerusalem

16. Bern

17. Yokohama

18. Copenhagen

19. Oslo

20. Taipei