Tel Aviv Outranks NY, London As 9th Most Expensive City In The World

March 18, 2018 | Israeli finance and tech hub Tel Aviv outranked New York, Los Angeles and London as the ninth most expensive city in the world, according to the newest report by The Economist Intelligence Unit titled “Worldwide Cost of Living 2018.” Tel Aviv climbed to its ninth spot from 34 just five years ago. The report says that the shekel’s strong performance played a part in Tel Aviv’s climb to the top 10, but the city “also has some specific costs that drive up prices, notably those of buying, insuring and maintaining a car,” pushing transport costs 79 percent above New York prices. Tel Aviv is also the second most expensive city in which to buy alcohol, according to the survey. New York, which occupied the ninth spot in the 2017 survey by the Economist Intelligence Unit, fell to number 13, due in part to a weakening dollar and Los Angeles ranked 14. London came in sixth in the 2016 report but fell from the top ten in 2017 and 2018. Singapore has maintained its top spot as the most expensive city in the world for the fifth consecutive year. Paris came in at number two in 2018, followed by Zurich, Hong Kong, Oslo, Geneva, Seoul and Copenhagen. Sydney closed out the top 10.