Holiday Ayo - For those looking to leave the United States (US), pursuing life as an expatriate is often an attractive option.

As cited from CNBC, Sunday (13/8), this is especially true for those who live in expensive areas, namely New York City and San Francisco. Where the cost of living remains high. In fact, New York continues to be the most expensive city in North America, ranking sixth in the world.

Relocating to work overseas, however, can come with a hefty price tag, according to Mercer's 2023 Cost of Living Ranking, which ranks 227 cities across five continents, comparing the cost of goods and services in each location.

The most expensive city in the world for expats is Hong Kong which topped the list for the second year in a row.

Here are the 10 most expensive cities for expats outside the United States:

• Hong Kong

• Singapore

• Zurich, Switzerland

• Geneva, Switzerland

• Basel, Switzerland

• Bern, Switzerland

• Tel Aviv, Israel

• Copenhagen, Denmark

• Nassau, Bahamas

• Shanghai, China

As for the United States, the data found the cost of living had increased in all US cities that had been analyzed. In the global ranking, New York is in sixth place, followed by Los Angeles in 11th place, San Francisco is in 14th place, and Honolulu is recorded in 15th place.

Additionally, Detroit, Houston and Cleveland saw the largest cost-of-living increases of any US city in 2023.

However, keep in mind the cost of living is only one factor to consider when looking to move abroad. While Hong Kong is the most expensive city to make on the list of most expensive cities for expats, that means a better quality of life. It even ranks 78th in that category.

On the other hand, some global cities may offer expatriates a lower cost of living, and perhaps a higher quality of life.

Barcelona, Spain, for example, ranks 75th for the highest cost of living, but 47th for the best quality of life.