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Tel Aviv overtakes Hong Kong, Paris and Zurich as most expensive city to live in: Tel Aviv becomes world’s most expensive city

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Highlights

  • Israel’s capital Tel Aviv has become the most expensive city in the world
  • Tel Aviv was ranked fifth in the list of expensive cities in the survey conducted last year.
  • The World Cost of Living Index has been released by the Economist Intelligence Unit (EIU)

Jerusalem
Tel Aviv, the capital of Israel, has become the most expensive city in the world. This city has occupied the first number in this list due to the rising prices of goods and inflation due to the problem in the supply chain in the world. Tel Aviv was at number five in the survey conducted last year. The World Cost of Living Index has been released by the Economist Intelligence Unit (EIU).

Know about the top three cities included in this list
In the list of expensive cities in the survey of Economist Intelligence Unit, Paris, Singapore are second and Zurich-Hong Kong is at number three. In this survey 173 cities of the world were included. These are the cities where living is considered expensive. It is determined on the basis of the Worldwide Cost of Living Index. It is seen that what is the value of the local currency there in comparison to the US dollar.

This Syrian city is the cheapest among 173 cities
In this survey of 173 cities, the Syrian capital Damascus is at the bottom. Syria has been battling war for the past few years. It is followed by the Libyan capital Tripoli. This city has also been engulfed in the fire of civil war after the death of dictator Gaddafi. Uzbekistan’s capital Tashkent is at number three from the bottom in this list, while Tunis is at fourth and Almaty is at fifth.

Data collected in August-September
The EIU has said that the data for the list that has been released was collected in August and September. Due to rising petrol prices in the cities covered in the survey, traffic has become very expensive. Not only this, the cost of living and food in Paris, Singapore, Zurich and Hong Kong are also increasing very fast.

Property prices sky high in Tel Aviv
The rise in the prices of the Israeli currency shekel is also a major reason behind Tel Aviv becoming an expensive city at the top of the World Cost of Living Index. Due to this, there has been a significant increase in the prices of food and drink in Tel Aviv. Tel Aviv is also quite expensive in terms of alcohol and traffic. Property prices in this city are also increasing very fast.

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