World ranking: Tel Aviv is the most expensive city in the world
The Economist magazine published the ranking of the most expensive cities in the world, and Tel Aviv "occupies" the first place as the most expensive city to live in, when it jumps from fifth place last year straight to the first and most disrespectful place
Ziv Reinstein
30/11/2021
Tuesday, 30 November 2021, 21:55 Updated: 22:20
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Tel Aviv.
The most expensive to live in the world (Photo: ShutterStock)
If more proof is needed of how expensive it is here, then it comes today (Wednesday) from the research unit of Economist magazine, which ranked the most expensive cities in the world this year, and found Tel Aviv in first place, that is - the most expensive city to live in the world.
Tel Aviv has experienced a faster change than other cities in the world, and jumped from fifth place to first place in the global cost of living index this year published by the Economist Intelligence Unit (EIU).
The White City first reached the rankings, surpassing last year's leader
Paris
, who are now tied for second place with
Singapore
.
The economist attributes Tel Aviv's sharp rise in the index to the rise in commodity prices among writers and transportation and to the strength of the Israeli shekel against the dollar.
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Commodity prices in writers have risen (Photo: ShutterStock)
Even in Europe - still not cheap
The Global Cost of Living Index for 2021 tracks the cost of living in 173 global cities - 40 more than last year - and compares the price of more than 200 everyday products and services.
Data for the survey, which has been conducted for more than three decades, are collected by the Economist's global research team every March and September. The index is adjusted for prices in New York, and hence exchange rates with stronger currencies against the US dollar may appear higher in the ranking.
After Tel Aviv,
Zurich and Hong Kong
were ranked
4th and 5th respectively, after taking first place last year alongside Paris.
New York, Geneva, Copenhagen, Los Angeles and Osaka
frame the rest of the top ten.
The top ranking continues to be dominated by developed cities in Asia and European cities. The cities ranked in the lowest places are mainly in the Middle East, Africa and less affluent parts of Asia.
The cheapest.
Damascus (Photo: ShutterStock)
The cheapest city in the world - Damascus
According to the study, the prices of goods and services covered by the index rose by 3.5% year-on-year in terms of local currency, compared with a rise of only 1.9% in this period last year.
The same problems in the global supply chain that have been reported, have contributed to rising prices and the corona plague and social restrictions still affect production and trade around the world.
In addition, the rise in oil prices led to a 21% rise in the price of unleaded gasoline, the EIU reports, but there were also large price increases in the recreation, tobacco and personal care categories.
The city with the highest rise in 2021 was Tehran, which jumped 50 places from 79th to 29th, with U.S. sanctions
leading
to shortages and higher prices. Our
neighbor Damascus is once again ranked as the cheapest city in the world as its war-torn economy continues to struggle. Damascus and Tehran suffered from very high inflation in 2021, as did Caracas in Venezuela and Buenos Aires in Argentina.
The 21 most expensive cities in the world in 2021
1. Tel Aviv, Israel
2. Paris, France
2. Singapore
4. Zurich, Switzerland
5. Hong Kong
6. New York, USA
7. Geneva, Switzerland
8. Copenhagen, Denmark
9. Los Angeles, USA
10. Osaka, Japan
11. Oslo, Norway
12. Seoul, South Korea
13. Tokyo, Japan
14. Vienna, Austria
14. Sydney, Australia
16. Melbourne, Australia
17. Helsinki, Finland
17. London, England
19 Dublin, Ireland
19. Frankfurt, Germany
19. Shanghai, China
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Cost of living