update desk

Tel Aviv ranked ninth most expensive city in the world

The White City’s cost of living skyrocketed from the 34th most expensive city on earth, a distinction it held just five years ago.

A view of the Tel Aviv skyline. Credit: LaMèreVeille via Wikimedia Commons.
A view of the Tel Aviv skyline. Credit: LaMèreVeille via Wikimedia Commons.

Tel Aviv has been ranked the ninth most expensive city in the world in The Economist’s Intelligence Unit annual report.

The White City’s cost of living skyrocketed from the 34th most expensive city on earth, a distinction it held just five years ago.

Singapore was dubbed the world’s priciest city, followed by Paris, Zurich, Hong Kong and Oslo.

Tel Aviv is the most expensive city in the Middle East. Asia was home to four of the 10 most expensive cities in the ranking, with New York and Los Angeles falling to 13th and 14th, respectively, due in part to the weakening of the U.S. dollar.

The Israeli shekel’s appreciation has driven up consumer costs across the board, according to the 2018 Worldwide Cost of Living Survey published on Thursday.

Car ownership costs 79 percent more than New York prices, though the average Israeli income is less than half the American average.

An average loaf of bread, which cost $2.98 a decade years ago, cost $4.44 five years ago and $5.10 today.

You have read 3 articles this month.
Register to receive full access to JNS.

Just before you scroll on...

Israel is at war. JNS is combating the stream of misinformation on Israel with real, honest and factual reporting. In order to deliver this in-depth, unbiased coverage of Israel and the Jewish world, we rely on readers like you. The support you provide allows our journalists to deliver the truth, free from bias and hidden agendas. Can we count on your support? Every contribution, big or small, helps JNS.org remain a trusted source of news you can rely on.

Become a part of our mission by donating today
Topics
Comments
Thank you. You are a loyal JNS Reader.
You have read more than 10 articles this month.
Please register for full access to continue reading and post comments.
Never miss a thing
Get the best stories faster with JNS breaking news updates