Economist Intelligence Unit names an Asian country as the world's most expensive city, having high cost for car ownership, transportation, utilities and clothing.

Here are the 10 most expensive in the world out of 133 cities.

Top 8: Los Angeles, United States of America

Los Angeles has become more and more expensive with the rise of prices in transportation and food. Clothes are also expensive in this city as the residents invest heavily in this commodity.

Top 8: Seoul, South Korea

It has high costs in clothing and utilities, the same as Copenhagen and Los Angeles. It is also famous for its medical tourism industry in Asia.

Top 8: Copenhagen, Denmark

The cost of living in Copenhagen is high compared with the offered salaries.

Top 7: New York, United States of America

With the American dollar getting stronger and with local inflation, New York is gaining momentum with regards to being expensive. It is a city of dreams but investment in staying at this place is not cheap.     

Top 6: London, England

The salary of working people in London remains stagnant but the marketplace has not kept up with rising real estate prices and inflation.

Top 5: Paris, France

The weakening of the euro surprisingly does not affect the cost of living in Paris. It is still extremely costly to live in the city.

Top 4: Geneva, Switzerland

Everything, including entertainment and recreation, is expensive in Geneva.

Top 3: Hong Kong, China

Soaring real estate prices and cost of living in the past year puts Hong Kong in the top 3 spot.

Top 2: Zurich, Switzerland

The largest city in Switzerland attributes its top 2 spot to the un-pegging of the Swiss franc from the euro.

Top 1: Singapore, Singapore

While basic necessities such as food and clothing are affordable in this city-state country, real estate prices and car ownership rates are really high.

Interestingly, the world's least expensive cities are Damascus in Syria, Caracas in Venezuela, New Delhi in India, Almaty in Kazakhstan, Algiers in Algeria, Chennai in India, Karachi in Pakistan, Mumbai in India, Bangalore in India, and Lusaka in Zambia.

The Economist Intelligence Unit releases reports on the cost of living worldwide every year.