Tuesday, January 18

Ranking. Tel Aviv dethrones Paris as the most expensive city in the world

The annual ranking of The Economist Intelligence, Worldwide Cost of Living (the cost of living in the world, excluding real estate) has appeared: Paris is (almost) no longer the most expensive city in the world. Tel Aviv has gained the upper hand, but that’s not good news for Israel, because behind it lies a difficult economic reality.

The Top 10 is now as follows:

  1. Tel Aviv (Israel)
  2. Paris
  3. Singapore
  4. Zurich (Switzerland)
  5. Hong Kong (China)
  6. New York (United States)
  7. Geneva, Switzerland)
  8. Copenhagen (Denmark)
  9. Los Angeles (United States)
  10. Osaka (Japan)

Tel Aviv “close to explosion”

To arrive at these results, The Economist Intelligence compares the prices of 200 common products and “services” (transport, gasoline). This year it was done in the period between August 16 and September 12.

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Tel Aviv was fifth last year. Meanwhile, the value of the shekel has risen against the dollar. Prices have gone up, especially in supermarkets. Gasoline is $ 2 a liter. Tel Aviv Mayor Ron Huldai further warned about real estate prices and a situation close to “the explosion”.

The pandemic has driven up prices

For all 173 cities studied, the organization noted record price inflation, the highest in five years, of 3.5%. The pandemic has had its effect: “The big cities are experiencing health restrictions, which disrupts international deliveries and, therefore, creates shortages and therefore price increases, analyzes The Economist Intelligence. In addition, the demands fluctuating users have changed consumption habits. Investor fears have been reflected in currency rates. All of this has resulted in soaring prices. “

The 10 cheapest cities

The cheapest cities to live in are unsurprisingly located in poor or war-torn countries: Syria is the only state that has not seen prices rise.

The “Top 10” reversed:

  1. Damascus (Syria),
  2. Tripoli (Libya),
  3. Tashkent (Uzbekistan),
  4. Tunis (Tunisia),
  5. Almaty (Kazakhstan),
  6. Karachi (Pakistan),
  7. Ahmedabad (Inde),
  8. Algiers Algeria),
  9. Buenos Aires (Argentine),
  10. Lusaka (Zambia).


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