Moscow has just been designated the world's most expensive city for the second year in a row by Mercer Human Resource Consulting's 2007 survey.
Using the cost of living in New York as a base, Mercer determined Moscow is 34.4 percent more expensive after taking into account the cost of housing, transportation, food, clothing, household goods and entertainment.
These rankings could be helpful to meeting planners in order to gauge how expensive it would be to host a meeting in one of those cities.
According to the survey, London took the No. 2 spot, up from No. 5 a year ago, based on higher rents and a stronger British pound relative to the dollar.
Following closely after London are Seoul and Tokyo, both of which are 22 percent more expensive than New York.
Among North American cities, New York and Los Angeles are the most expensive and are the only two to rank in the top 50 of the world's most expensive cities.
World's most expensive cities 2007
5. Hong Kong
12. St. Petersburg (Russia)
15. New York City
17. Tel Aviv