What are the 10 most expensive cities in the world? A new list has appeared
The Israeli city of Tel Aviv has been named the most expensive city in the world to live in. Photo: File
The Israeli city of Tel Aviv has been named the most expensive city in the world to live in. Photo: File
The Economist Intelligence Unit (EIU) has released a list of the world’s most expensive cities to assess the cost of living globally.
According to the British Broadcasting Corporation (BBC), the EIU survey ranked the Israeli city of Tel Aviv as the most expensive city in the world to live in, while Paris and Singapore are joint second on the list.
According to reports, the Israeli city was ranked fifth in last year’s survey.
In addition, last year, Paris, Zurich and Hong Kong shared the first position in the EIU survey. However, this year, Zurich and Hong Kong are ranked fourth and fifth in the list of the most expensive cities in the world. New York is sixth, Geneva is seventh, Copenhagen is eighth, Los Angeles is ninth and Osaka is tenth.
According to reports, while compiling this list, the expenditure on products and services in 173 cities has been reviewed and these prices have been compared in US dollars.
According to the Economist Intelligence Unit, data collected in August and September of this year shows that prices in terms of local currency increased by an average of 3.5%, the fastest rate of inflation in the last five years.