Every year, a report is released that ranks the 10 most expensive cities in the world based on the cost of living. In 2023, Tel Aviv topped the list due to the impact of the coronavirus pandemic on inflation and the resulting increase in the prices of goods and services.
- Tel Aviv is now the most expensive city in the world, according to the Economic Information Unit of “The Economist”
- Paris, Singapore, Zurich, and Hong Kong follow in the top five
- New York, Geneva, Copenhagen, Los Angeles, and Osaka round out the top 10
The survey analyzed 50,000 goods and services in 173 cities and found that prices increased by an average of 3.5% in local currency terms
The survey included rental costs but did not consider real estate prices