If you live in Tel Aviv or spend time there and feel that the money is slipping through your fingers, it's no surprise. It turns out that Tel Aviv is one of the world's most expensive cities according to the Economist Intelligence Unit's (EIU) Worldwide Cost of Living Survey for 2019, in which it is placed tenth. The good news is that Tel Aviv fell one place from last year's rankings, in which it was placed ninth.
Three cities share first place in the EIU ranking: Paris, Singapore, and Hong Kong. Hong Kong jumped four places from the 2018 rankings.
The highest places in the annual survey, which is based on the cost of over 150 items in 133 cities, are mainly taken by cities in Asia and Europe. Zurich is fourth this year, while Osaka rose six places to share fifth spot with Geneva.
New York and Los Angeles are the only North American cities in the first ten places. New York rose six places to seventh spot, which it shares with Copenhagen. San Francisco has also become a more expensive place in which to live, rising 12 places to 25th .
Unsurprisingly, the cities with the lowest cost of living are in countries undergoing political or economic crises. Venezuelan capital Caracas is at the bottom of the rankings, a position previously held by Syrian capital Damascus, which is now second last. Lagos in Nigeria and Karachi in Pakistan are in joint 127th place.
The most expensive cities, in order, are Singapore, Paris and Hong Kong; Zurich; Geneva and Osaka; Seoul, Copenhagen and New York; Tel Aviv and Los Angeles.
Published by Globes, Israel business news - en.globes.co.il - on March 19, 2019
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