London: Tel Aviv has become the most expensive city in the world, behind Paris and Singapore. The city of Israel has surpassed all other major cities in terms of cost of living as inflation poses a major challenge around the world.
According to the Economist Intelligence Unit, Tel Aviv holds the record for the most number of countries in a row. This compares to 173 major cities. The sheikel, the Israeli currency, is highly valued against the dollar, bringing Tel Aviv to this level. Another reason was the skyrocketing cost of transportation and the prices of daily necessities.
Paris and Singapore are second only to Tel Aviv in terms of cost of living. It is followed by Zurich, Hong Kong and New York.