Australian capital cities have rocketed up the annual Mercer Cost Of Living Survey that ranks the most expensive places for companies to send their employees.
Leaning heavily on the strong Aussie dollar, the survey found that Sydney was now the 25th most expensive place for expats, followed by Melbourne (46th) and Perth (50th).
The survey calculates company expenses for each city based on a number of variables including housing, transport, food, security and entertainment.
So what topped the list as the world's most expensive place for an expat employee to live and work? According to the report it was Luanda, the little-known capital of Angola. This was due to the city’s high cost of personal security combined with an unstable economic climate that saw the Southern African nation rise to the top.
Luanda was closely followed by Hong Kong (2nd), Tokyo (3rd) and Zurich (4th).
The news wasn't all grim – the survey also pointed out the least expensive cities as potential bases for companies looking to expand their reach.
The cheapest city was the capital city of Tunisia, Tunis (209th), followed by the Kyrgyzstan capital Bishkek (208th) and the capital of Macedonia, Skopje (207th).
Mercer's senior partner Ilya Bonic said that the report continues to function as a handy guide for businesses to determine allowances for expatriate employees.
"Globalisation of the marketplace is well documented with many companies operating in multiple locations around the world and promoting international assignments to enhance the experience of future managers." said Bonic.
"There are numerous personal and organisational advantages for sending employees overseas, whether for long- or short-term assignments, including career development by obtaining global experience, the creation and transfer of skills, and the re-allocation of resources."
Top 10 Most Expensive Cities
1: Luanda, Angola
2: Hong Kong, Hong Kong
3: Tokyo, Japan
4: Zurich, Switzerland
5: Singapore, Singapore
6: Seoul, South Korea
7: Geneva, Switzerland
8: Shanghai, China
9: New York City, United States
10: Bern, Switzerland
Top 10 Least Expensive Cities
1: Tunis, Tunisia
2: Bishkek, Kyrgyzstan
3: Skopje, Macedonia
4: Windhoek, Namibia
5: Blantyre, Malawi
6: Tbilisi, Georgia
7: Monterrey, Mexico
8: Sarajevo, Bosnia and Herzegovina
9: Karachi, Pakistan
10: Minsk, Belarus