New study ranks the top 10 most expensive cities for expats

Hong Kong ranks as the world's most expensive city for expats, according to a recent study by Mercer, a global consulting firm headquartered in New York. Expat is short for expatriates, those who live outside their native country.

The annual survey features data that is based on research done twice per year, and evaluates more than 200 goods and services from categories such as food, housing, personal care and more. Across the world, high inflation is a growing cause of concern for governments, companies, workers and families.

Here are the top 10 most expensive places for expatriates to live and work abroad: