Flying business class from Asia to London or New York is expensive, but a new index highlights large differences in the cost of buying a ticket in different Asian cities.

Tokyo, one of the world's expensive places to live, is the cheapest city in Asia to purchase a round-trip business class ticket, according to the latest Julius Baer Lifestyle Index, at an average cost of $3,932 - well below the regional average of $5,719.

The Index, which tracks a basket of luxury goods in U.S. dollar terms in 11 Asian cities, took the average cost of a round trip, full fare business class flight to London and New York on five separate airlines.

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Bangkok, Mumbai and Kuala Lumpur followed closely, with business class travel to the two major cities averaging $4,077, $4,224 and $4,750, respectively.

Seoul was the most expensive at $7,712 ahead of Hong Kong at $7,180 and Shanghai at $6,915.

From biz class to Botox

In addition to business class tickets, the Index tracks the cost of a variety of luxury items including botox, high-end wine, Louboutin pumps and a Rolex watch among other discretionary goods.

The Index fell by 5.3 percent in U.S. dollar terms in 2014, reflecting depreciation in Asian currencies over the past year.

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While there isn't a single city in Asia that offers competitively priced luxury goods across all product categories, one thing is clear: if you're looking to pamper yourself, avoid Shanghai, which tops the ranking for many items.

The most competitively priced Botox treatment can be found in Manila, where it costs just $172, according to an index, a fraction of the $1,373 charged in Shanghai - the most expensive location - and regional average of $528.

Wine connoisseurs best head to Kuala Lumpur, where a bottle of 2000 Lafite Rothschild costs $1,832, well below the regional average of $2,816.

Ladies, for Louboutin pumps, take a trip to Taipei where they cost around $450, compared with the regional average of $647.

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Gentleman looking to purchase a Rolex watch should consider doing so in Tokyo, where a yellow gold 41 millimeter face Oyster Rolex will set you back 30,300 - compared to the regional average of $35,341.

It's time for a shopping spree around Asia.