Tel Aviv is the most expensive city in the world, according to an annual survey by the Economist magazine.
The Israeli city takes the top spot from Paris, which dropped to a shared second place with Singapore.
The data was gathered by the Worldwide Cost of Living Survey from the Economist Intelligence Unit, which was published on Wednesday.
Tel Aviv climbed the rankings partly due to the strength of the national currency, the Israeli shekel, against the US dollar, as well increases in prices for transport and groceries.
Next in the ranking were Zurich, Hong Kong and New York. Rounding off the top 10 were Geneva, Copenhagen, Los Angeles, and Osaka in 10th place.
The Syrian capital Damascus was ranked the world’s cheapest city to live in.
Restrictions due to the COVID-19 pandemic “have disrupted the supply of goods, leading to shortages and higher prices,” said Upasana Dutt, the head of worldwide cost of living at The EIU.
“We can clearly see the impact in this year’s index, with the rise in petrol prices particularly stark,” she said, while central banks are expected to raise interest rates cautiously, reducing inflation.
The average inflation figure does not include four cities with exceptionally high rates: Caracas, Damascus, Buenos Aires and Tehran. The Iranian capital rose from 79th to 29th place in the ranking as US sanctions have pushed up prices and caused shortages.
Top 10 world’s most expensive cities to live in 2021
1. Tel Aviv
2. Paris (tie)
2. Singapore (tie)
4. Zurich
5. Hong Kong
6. New York City
7. Geneva
8. Copenhagen
9. Los Angeles
10. Osaka
Source: aljazeera
