Tel Aviv has overtaken Hong Kong, Paris and Zurich as the most expensive city to live in.
According to the annual survey of economic information unit The Israeli city rose five places in the ranking. For the first time, she is in first place. Paris and Singapore are now in second place, followed by Zurich and Hong Kong. This is followed by New York, Geneva, Copenhagen, Los Angeles and Osaka.
Last year, Paris, Hong Kong and Zurich still topped the list together.
According to researchers, the fact that Tel Aviv is now topping the rankings is mainly due to the strength of the Israeli currency. The shekel rose against the dollar. Prices for transportation and groceries also rose.
The ranking is compiled each year by converting the prices of more than 200 goods and services in 173 cities into US dollar prices. Because of the pandemic and its impact on the economy, the rankings have been shaken this year. Transportation costs rose sharply due to higher oil prices. Recreational costs, tobacco and personal hygiene have also increased dramatically.
Rome slipped in most places, from 32nd to 48th. The Iranian capital, Tehran, is the biggest climber, as it was last year, jumping from 97th to 29th.
The Syrian capital, Damascus, is the cheapest city to live in, followed by the Libyan city of Tripoli and the Uzbek capital Tashkent.
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