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World ranking: Tel Aviv is the most expensive city in the world - Walla! Tourism

2021-11-30T20:23:55.364Z

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 Mako



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

Source: walla

All life articles on 2021-11-30

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