Economist: Tel Aviv World's Most Expensive City

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Israelis often complain about the cost of living in the Jewish state. A new survey confirms that the concerns are real.

The Economist magazine ranked Tel Aviv the world's most expensive city — ahead of Paris, New York, Singapore, Zurich, and Hong Kong. Israel's economic hub jumped four spots from last year's survey, bumped by Israel's strong economy and the rising shekel. According to Globes:

The EIU Worldwide Cost of Living survey examined prices of goods and services in 173 cities, and found that, in Tel Aviv, prices of 10% of goods surveyed had risen. The global average rise in the prices of the items surveyed was 3.5% in the past year, versus 1.9% in the previous year, contributing to life becoming more expensive for most city dwellers. This year's global price rise is the largest measured for five years.

It's a dubious honor, to be sure, but also serves as an indication of Tel Aviv's rising importance in the world's economy.

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