The world’s most expensive city to live in is…

This year, Tel Aviv, a city in Israel, has leaped to the top of the list, jumping past Paris and Singapore which are at a joint second ranking, followed by Zurich and Hong Kong. Tel Aviv’s ranking on the list is attributed to its national currency, Shekel’s strength against the US dollar, and increases in grocery and transport prices.

Tel Aviv ranked first on the list of world’s most expensive cities 2021 by the Economist Intelligence Unit (EIU). (AP Photo/Oded Balilty)

The index is benchmarked against the prices of 200 everyday products and services in New York, meaning that the countries with currency stronger than the US dollar will appear higher on the list.

The top 10 cities were rounded up with New York in sixth, Geneva seventh, followed by Copenhagen, Los Angeles and Osaka. European and developed Asian cities continue to occupy the top rankings while those on the lower ranks consist of Middle Eastern, African and lesser developed parts of Asia.

Tehran jumped from 79th to 29th position owing to hiked prices and shortages due to US sanctions, while Damascus ranked the lowest.

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