World's Most Expensive Cities 2014: If you're up to starting a new business or moving to a foreign country for work, check out Mercer's annual Cost of Living Survey for 2014 to know if your upcoming destination fits your budget.

Mercer compared and ranked 211 cities from five continents to see which the costliest places to live in are. Designed for people who have business or who are working abroad, the said research was based on a comparison of over 200 items in each area, including food, clothing, housing, transportation, entertainment, and household goods.

"Rankings in many regions were affected by recent world events, including economic and political upheavals, which resulted in currency fluctuations, cost inflation for goods and services, and volatility in accommodation prices," said Ed Hannibal, a partner for Mercer's mobility practice, courtesy of The Canadian Press.

Luanda, tops the list for the second year in a row, followed by N'Djamena, Chad-two unlikely cities to have made it at the top.

However, Hannibal explained, "While Luanda and N'Djamena are relatively inexpensive cities, they are quite costly for expatriates since imported goods come at a premium. In addition, finding secure living accommodations that meet the standards of expatriates can be challenging and quite costly as well."

Asian countries Hong Kong and Singapore ranked third and fourth, respectively.

For instance, the Mercer survey indicated that a cup of coffee in Hong Kong costs around $6.64. In terms of housing, you would need $6,960 to rent an unfurnished two-bedroom apartment. This is double the cost of Singapore's $3,709.

Aside from Asia, Europe also dominates the top of the list with three Swiss cities (Zürich, Geneva and Bern) ranking high. Expats need to note the strength of the Swiss franc against the U.S. dollar.

London and Paris also became more expensive after moving up to ranks 12 and 27, respectively.

"Despite moderate price increases in most of the European cities, European currencies for the most part slightly strengthened against the U.S. dollar, which pushed most Western European cities up in the ranking," explained Nathalie Constantin-Métral, who compiled the survey.