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Mercer's annual Cost of Living survey reveals that Luanda, Angola as the most expensive city to live in for expatriate employees. A single bedroom flat will cost$3,500 per month in the city centre, while a pair of jeans could cost over $240.

It could be surprising that Luanda triumphs over Paris, New York or London, but this is the third consecutive year that the city is placed on the top. The main reason for it is Angola's oil industry. The industry accounts for half of the country's global GDP.

Mercer's Talent business President Ilya Bonic said, "As the global economy has become increasingly interconnected, close to 75% of multinational organizations are expecting long-term expatriate assignments to remain stable or increase over the next two years.”

"Sending employees abroad is necessary to compete in markets and for critical talent," Bonic added.

List of top ten costly cities to live in for expatriates:

1) Luanda, Angola
2) Hong Kong, China
3) Zurich, Switzerland
4) Singapore, Singapore
5) Geneva, Switzerland
6) Shanghai, China
7) Beijing, China
8) Seoul, South Korea
9) Bern, Switzerland
10) N'Djamena, Chad

Although ECA International came up with a marginally different result, top three spots are maintained by Zurich and Luanda.

-Sumana