The most expensive city in the world is now Tel Aviv, Israel. In second place is Singapore City and Paris, France. The cost of living is lowest in Damascus, Syria. The London-based Economist Intelligence Unit (EIU) reports on the cost of living.
El Tel Aviv has topped the EIU’s list of most expensive cities for the first time, according to AFP. The EIU has compiled this index of the cost of living worldwide, considering the value of goods and services in 173 cities around the world in US dollars.
Tel Aviv topped the list as the Israeli currency, the shekel, depreciated against the dollar, and the cost of transportation and groceries increased. Paris and Singapore are joint second on the list. It is followed by Hong Kong, a semi-autonomous region of China, and Zurich, Switzerland.
New York ranks sixth on the EIU list. Geneva, another city in Switzerland, is in seventh place. The other cities in the top ten are Copenhagen in Denmark, Los Angeles in the United States and Osaka in Japan.
➤ Most Expensive City In The World
Last year, Paris, Zurich and Hong Kong were the three most expensive cities in the world jointly on the EIU list. Tehran, the capital of Iran, has topped the list of most expensive cities. The cost of living in the city has risen due to rising costs and product shortages due to various US sanctions.
Due to this, Tehran has risen to the 29th position by 50 steps ahead in Eklafe. Last year, the city rose 27 places to 79th position. The list is based on data collected in August and September this year. During this time the cost of transporting goods by water and the price of goods increased.
It has been seen that the average price of local currency in the country has increased by 3.5 percent. This is the fastest inflation in the world in the last five years. EIU chief Upasana Dutt said, This has led to a rise in prices with a shortage of goods. We can clearly see the effect of this in the index. ‘
➤ Most Expensive City In The World 2021
Here is your The most expensive city in the world top list. The London-based Economist Intelligence Unit (EIU) reports on the cost of living.