The 10 Most Expensive Cities In The World

In the company's new worldwide cost of living survey, the Japanese city has outpaced last year's winner Zurich for the undesirable ranking as the world's priciest city. This is nothing new for Tokyo, which has only dropped below the number one spot a handful of times in the last 20 years.

Zurich sank from number one to number seven on the list, declining a whopping 39 percentage points from last year due to a weakening Swiss Franc. Geneva also didn't fare well, seeing a steep decline from a number three ranking in 2012 to barely making the list at number 10 this year.

The survey calculates cost of living based on prices for products and services, including food, clothing, rent, and transportation. Each cost of living index is set in relation to New York's, which is fixed at a base of 100.