New York has pushed Hong Kong off the pedestal of “most expensive city in the world” in the latest polls. Hong Kong now occupies the second position whilst Singapore clambers up to occupy number five in the rankings.

The cost of living in a city is an important consideration when deciding where to settle down in the host country as it directly impacts your lifestyle.

ECA International recently released its latest “Cost of Living” research where it ranks 207 cities based on day-to-day expenses. This research helps organisations determine cost allowances for employees.