Tel Aviv is the most expensive city in the world due to the appreciation of the shekel, the local currency, and accelerating inflationby rating “The Economist” Posted on Wednesday.
In this publication, the so-called Intelligence Unit (EIU), which prepares specialized annual reports, has highlighted The most expensive foodstuffs, raw materials, alcohol and transportation, which raised the Israeli city four places in the list compared to last year. Thus, it stood above Paris and Singapore.
Completion of the “top ten” with Zurich, Hong Kong, New York, Geneva, Copenhagen, Los Angeles, Osaka, The result of comparing prices for more than 200 products and services in 173 locations around the world.
The United States and Switzerland each have two spots, while Europe is the continent that occupies the top ten most.
The data, collected in August and September, reflects a 3.5% increase in prices in local currency, the fastest inflation rate in the past five years.
The report also showed that the average cost of a liter of unleaded gasoline in all cities was 21% higher than the previous year.
The “Economist” said to warn that “the massive increase in natural gas prices in Europe and Asia and panic buying at petrol stations in Britain occurred too late to affect this year’s ranking.” ‘They do not bode well in terms of costs in 2022’.
The EIU attributes the rise in commodity prices in most parts of the world to Supply chain issues related to the coronavirus pandemic.
Secondly, Damascus is the cheapest city on the list. Other, less expensive countries are mainly found in the Middle East, Africa, and the poorest regions of Asia. Latin America also has its representative: Buenos Aires, the capital of Argentina.
Here are the rankings of the most expensive and cheapest cities in the world:
The ten most expensive cities in the world
1 – Tel Aviv (Israel)
2 – Paris (France)
4 – Zurich (Switzerland)
5. Hong Kong
6- New York (USA)
7- Geneva (Switzerland)
8 – Copenhagen (Denmark)
9- Los Angeles (USA)
10- Osaka (Japan)
The ten cheapest cities in the world
1 – Damascus (Syria)
2 – Tripoli (Libya)
3 – Tashkent (Uzbekistan)
5 – Almaty (Kazakhstan)
6- Karachi (Pakistan)
7- Ahmedabad (India)
8 – Algeria (Algeria)
9 – Buenos Aires (Argentina)
10 – Lusaka (Zambia)