William M. Mercer Consulting has released its new list of the world's most expensive cities in which to live. Topping the list is Tokyo, Japan, which was also ranked in first place last year. New York City, with its eighth place ranking, is the only U.S. city in the top 10.

The 10 cities with the most expensive living costs in the world are:

1. Tokyo, Japan
2. Moscow, Russia
3. Hong Kong
4. Beijing, China
5. Osaka, Japan
6. Shanghai, China
7. St. Petersburg, Russia
8. New York City, USA
9. Guangzhou, China
10. Seoul, Korea

The top 10 most expensive cities in the United States are:

1. New York City, NY
2. White Plains, NY
3. San Francisco, CA
4. Chicago, IL
5. Los Angeles, CA
6. Miami, FL
7. Honolulu, HI
8. Morristown, NJ
9. Boston, MA
10. Houston, TX

You can read the entire list of the 60 most expensive cities in the world.

William M. Mercer is a global consulting firm dedicated to helping organizations use the power of their people to enhance business success.