It only gets worse: the cost of living in Tel Aviv is once again at the top of the world
After the Economist crowned it the most expensive city in the world, Tel Aviv now has another "achievement" and is ranked sixth in the index that compares housing prices, basic goods and public transportation.
It is preceded by Tokyo, followed by Zurich.
And who is in first place?
News agencies
08/06/2022
Wednesday, 08 June 2022, 11:59 Updated: 12:52
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Tel Aviv (Photo: Reuven Castro)
The issue of the cost of living in Tel Aviv makes headlines from time to time, when it comes to a variety of dubious degrees that the city has won in this field.
This morning (Wednesday) another achievement was recorded when the international EMC company announced that Tel Aviv is in sixth place in the index that compares housing prices, the average price of basic products, public transportation and other services.
Hong Kong took first place in the table, followed by New York, Geneva, London and Tokyo, respectively, followed by Tel Aviv with a rise of one place in the ranking from last year.
A total of five cities in the Asian continent reached the top ten, with Tel Aviv followed by Zurich, Shanghai, Guangzhou and Seoul.
And which cities are ranked lower than in previous years?
Paris, which topped the ECA list in the past, dropped from the top 30. Thus, Madrid, Rome and Brussels also recorded a decline.
"Almost every major city in the eurozone has declined this year, as the currency has outperformed the dollar and pound over the past 12 months," explains Lee Kwan, ECA's regional director for Asia.
More on Walla!
World ranking: Tel Aviv is the most expensive city in the world in 2021
To the full article
Tel Aviv Promenade (Photo: Reuven Castro)
External factors such as politics and international conflicts also play a role in influencing the index.
For example, Russia's invasion of Ukraine and the accompanying sanctions imposed by many countries on Moscow led to the city reaching 62nd place and St. Petersburg dropping to 147th place.
In the Economist Index published six months ago, Tel Aviv jumped five places and reached the top of the list of expensive cities in 2021. At that time, the White City overtook Paris and Singapore, which came in second place, and Zurich and Hong Kong, which closed the top five for this index.
The economist attributes the sharp rise of Tel Aviv in this index to the rise in commodity prices among writers and transportation and to the strength of the Israeli shekel against the dollar.
After Tel Aviv, Zurich and Hong Kong were ranked 4th and 5th respectively, having taken first place in 2020 alongside Paris.
New York, Geneva, Copenhagen, Los Angeles and Osaka frame the rest of the top ten.
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