It is cheaper to go on a cruise holiday than to live in Sydney – the country’s most expensive city, according to the latest research.

The average Sydneysider pays about $221 in rent every week, according to comparison site, finder.com.

Latest data from the Australian Bureau of Statistics shows that the average cost of living in Sydney is about $465 a week which includes food, entertainment, transport and utilities.

All up, it costs the average person $686 a week to live in Sydney.

However, if you choose to go on a seven-night cruise to the South Pacific, it will be cheaper by about $80, according to finder.com.

For instance, P&O has an eight-night cruise to New Caledonia for $699 which works out to be just $609 per week – $77 cheaper than living in Sydney for a week.

Carnival Cruise Lines offers a similar itinerary to New Caledonia at an even lower price – at just $539 per week – $147 cheaper than living in Sydney.

“We all know that rent in Australia is expensive, but it’s still astonishing that cruising for a week can be cheaper than living in Sydney,’’ said Angus Kidman of finder.com.

He added that retirees might find living on a cruise ship an attractive option as it includes all the perks of a holiday including live entertainment shows, food and activities like bingo.

And there is always something to do, something to see and new people to talk to when you are on a cruise.

This year, in the Worldwide Cost of Living report, the Economist Intelligence Unit rated Sydney as a more expensive city to live in than London and New York.

Find cruises cheaper than living in Sydney here.