To determine the leap forward of New York and Singapore and the overtaking of Tel-Aviv it is – according to the research – the combination “of two factors: high incomes and a stronger exchange rate”. Conversely, “a stronger currency and higher inflation rate” pushed Tel Aviv back to third place.
It was Tel-Aviv in 2021 to win the title of most expensive city in the world, after beating Paris, Singapore, Zurich, Hong Kong and New York, thus winning the questionable palm of the top in the cost of living. Now, therefore, he will have to settle for third place.
Broadly speaking, the research found that prices “increased an average of 8.1 percent year-over-year in major cities around the world.” And that is “the fastest rate in the last 20 years, reflecting a global crisis in the cost of living triggered by the crisis in Ukraine and the persistence of the Covid restrictions in China”.
