Tel Aviv emerges as world鈥檚 priciest city for the first time
02 Dec 2021
2 Min Read
CW Team
According to a ranking compiled by the Economist Intelligence Unit (EIU), Tel Aviv is the most expensive city in the world to live in.
In comparison to the 2020 report, which had Paris, Hong Kong, and Zurich tied for first place, Israel climbed five rungs.
Paris and Singapore tied for second place in the report for 2021, followed by Zurich and Hong Kong. New York was ranked sixth, and Geneva was ranked seventh.
The strength of the Israeli shekel against the dollar, as well as increases in transportation and grocery prices, have helped Tel Aviv to rise in the rankings.
The data for this year was gathered in August and September when freight and commodity prices were on the rise around the world.
In local currency terms, prices increased by 3.5% on average, the fastest rate of inflation in the last five years. This average inflation figure excludes Caracas, Damascus, Buenos Aires, and Tehran, which all have exceptionally high rates.
Berlin has dropped eight places to 50th place, making it the most affordable of the six German cities in the ranking. Frankfurt, one of the world's major financial centres, came in 19th place as the most expensive German city.
The Iranian capital of Tehran, which jumped from 79th to 29th place in the rankings, made the biggest leap. This shift can be attributed to US sanctions, which resulted in supply shortages and price increases.
The cheapest city on the list is still Damascus, which reflects the effects of Syria's ongoing civil war. Libya's Tripoli came in second-to-last, having been wracked by conflict for years.
According to a ranking compiled by the Economist Intelligence Unit (EIU), Tel Aviv is the most expensive city in the world to live in.
In comparison to the 2020 report, which had Paris, Hong Kong, and Zurich tied for first place, Israel climbed five rungs.
Paris and Singapore tied for second place in the report for 2021, followed by Zurich and Hong Kong. New York was ranked sixth, and Geneva was ranked seventh.
The strength of the Israeli shekel against the dollar, as well as increases in transportation and grocery prices, have helped Tel Aviv to rise in the rankings.
The data for this year was gathered in August and September when freight and commodity prices were on the rise around the world.
In local currency terms, prices increased by 3.5% on average, the fastest rate of inflation in the last five years. This average inflation figure excludes Caracas, Damascus, Buenos Aires, and Tehran, which all have exceptionally high rates.
Berlin has dropped eight places to 50th place, making it the most affordable of the six German cities in the ranking. Frankfurt, one of the world's major financial centres, came in 19th place as the most expensive German city.
The Iranian capital of Tehran, which jumped from 79th to 29th place in the rankings, made the biggest leap. This shift can be attributed to US sanctions, which resulted in supply shortages and price increases.
The cheapest city on the list is still Damascus, which reflects the effects of Syria's ongoing civil war. Libya's Tripoli came in second-to-last, having been wracked by conflict for years.
Image Source
Next Story
Central Railway Saves Rs 1.71 Billion via HOG Tech in FY25
Central Railway saved Rs 1.71 billion in financial year 2024-25 by adopting Head-On Generation (HOG) technology across its train operations, an official said. The energy-efficient system helped reduce environmental clearance and operational costs in all five divisions.HOG implementation reached 86.71 per cent during the year, bringing the highest savings of Rs 1.36 billion in the Mumbai division, followed by Rs 223.1 million in Pune, Rs 69.6 million in Nagpur, Rs 36.8 million in Solapur, and Rs 15.9 million in Bhusawal.Unlike the traditional End-On Generation (EOG) system, which uses diesel-po..
Next Story
Chennai Metro TBM Completes Key Tunnel Link Below Rail Tracks
Chennai Metro Rail Limited has achieved a milestone in its Phase II expansion, with tunnel boring machine Kalvarayan completing an underground stretch beneath one of the city鈥檚 busiest railway zones.The machine completed its eight hundred sixty-seven metre journey between Ayanavaram and Perambur stations, surfacing at the Perambur south shaft. This marks the seventh breakthrough under contract by Tata Projects Limited and the eleventh overall in the Phase II project, which aims to deliver over one hundred eighteen kilometres of new metro lines.Kalvarayan is part of the initial nine kilometre..
Next Story
Railways Introduces Free Sleeper to Third AC Auto Upgrade Policy
Indian Railways has introduced an auto-upgrade policy allowing confirmed Sleeper Class passengers to be moved to Third AC at no additional cost. The move aims to improve travel comfort and optimise seat occupancy, especially during off-peak periods when higher-class seats remain vacant.The system works during preparation of the first reservation chart, about four hours before departure. Passengers must opt-in during booking by selecting 鈥淐onsider for Auto Upgrade鈥�; otherwise, the system defaults to 鈥淵es鈥�.Upgrades are limited to two class levels. For example, a Sleeper ticket holder may..
