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Analysts from the British Economist Group conducted a study among 173 cities in the world in order to find out the cost of living in metropolitan areas. According to the published rating “The cost of living in the world in 2021” Tel Aviv is recognized as the most expensive city of the current year. And if last year the metropolis was the fifth most expensive city after Paris, Hong Kong, Osaka and Geneva, then in 2021 Tel Aviv rose to the first line of the list of expensive cities to live in.
According to iz.ru, the rise of the megalopolis to the first position of the rating this year is explained by the prolonged growth in the exchange rate of the Israeli shekel against the US dollar, as well as the increase in the cost of food and travel in public transport. For example, prices for goods and services in the city on average increased by 3.5% in local currency, compared with an increase of 1.9% in 2020.