SHOCKING: Tel Aviv is Now the World’s Most Expensive City

The Metropolis has overtaken Paris to secure this distinction

By Nosson Shulman: Licensed Tour Guide of VIP Israel Tours & Authentic Virtual Tours (click here to check out his free trailer videos)

For the first time ever, according to the Economist Intelligence Unit (the research arm of the prestige Economist) an Israeli city is considered to be the most expensive to live in!

Tel Aviv has long been in the top 10 most expensive cities, largely due to its exorbitant real estate prices and transportation costs (in Israel the tax on new cars is more than 100%) although until now, it never reached in the top five. Last year it was the 6th most expensive city.

The predominant reason that Tel Aviv reached this distinction in such a short time is because of the strength of the shekel, currently the world’s strongest currency (some say it’s the second most). As the list is ranked in US dollars (now at a 25 year low against the shekel) it costs more US dollars to live in Tel Aviv than any other city in the world! Other factors include the rise in the price of groceries and gasoline (considerably higher than in the US).

According to the Economist, the ten most expensive cities are:

1) Tel Aviv

2) Paris

3) Singapore

4) Zurich

5) Hong Kong

6) New York

7) Geneva

8) Copenhagen

9) Los Angeles

10) Oslo

The least expensive city to live in is Damascus, the capital of Syria.

Nosson Shulman is a journalist and Licensed Tour Guide in Israel specializing in Biblical tours. To allow tourists to experience Israel during the Corona era, he created the new hit Israel tour video series which brings Israel to the home of viewers by simulating actual tours. To check out his free sneak preview tour videos, click here. To view sample tour itineraries or to inquire about private tour opportunities with a personalized itinerary on your next trip to Israel, click here.