Stressed over the rising live costs each year? Be thankful you’re not living in Tel Aviv, Israel—the city that’s recently been crowned the most expensive city in the world to live in, according to the Economist Intelligence Unit’s Worldwide Cost of Living Survey.
Overtaking Hong Kong from its top spot from last year, Tel Aviv climbed up four spots, while Hong Kong dropped down to number five. This change is mainly brought by the ripple effects of the pandemic, including shifts in the supply chain, and exchange-rate shifts. However, the most notable reason behind Tel Aviv’s rise in ranking can be attributed to the Israeli currency soaring from the country’s successful Covid-19 vaccine rollout.
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