Shanghai is Asia's most expensive city destination for expatriates to live in, according to a cost-of-living survey conducted by ECA International, a London-based consultancy firm.

The survey likewise ranked Shanghai as the world's 7th most expensive city for expatriate employees, with Beijing as the second most expensive city in Asia.

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ECA International cited Shanghai as the costliest place in Asia for expats due to the strengthening value of China's currency, the renminbi.

New York's Manhattan was ranked 15th in the survey, trailing behind Beijing, Hong Kong, and Guangzhou, which ranked 8th, 9th, and 14th, respectively.

The survey ranked Manhattan as the only American city in the top 20 most expensive destinations worldwide for expats. The Chinese city Shenzhen came in close at 16th.

In Europe, four Swiss cities were ranked as the most expensive: Geneva, Zurich, Bern, and Basel. Two African cities, Luanda in Angola and Kinshasha in Congo, came in fifth and sixth place, respectively.

"In spite of the minor depreciation in the renminbi against the dollar over the summer, it has strengthened against most other currencies leading to Shanghai becoming the most expensive Asian city for international assignees," said ECA's Asia regional director, Lee Quane.

Quane said the current ranking of China's major cities as expensive destinations mirrors the general trend in China and will most likely remain the same for the mobile executives in the future.

The survey showed that food and branded clothing are more considerably expensive in Shanghai and Beijing than in Manhattan.

ECA International surveyed expats on their day to day expenses on goods and services including groceries such as dairy, fish, meat, fresh fruits and vegetables as well as household goods, recreational expenses, clothing, restaurant meals, alcohol and tobacco.

The survey found that goods, clothing and dining out in Shanghai were twice as high compared to the prices in Manhattan.

A former expat, Elizabeth Oppong of the United States, who had worked in Shenzhen city, said that in order to save on eating out, she used to dine in local restaurants because it was cheaper compared to international restaurants that cost an arm and a leg.

TagsECA International, cost-of-living survey, manhattan, Europe, Lee Quane, Major cities in China, most expensive Asian city, clothing, recreational expenses