The Israeli coastal metropolis Tel Aviv is now the most expensive city in the world. It replaces the French capital Paris. France’s capital now shares second place with Singapore. It is followed by the Swiss metropolis of Zurich, followed by Hong Kong and New York.
Compared to the ranking a year ago, Berlin slipped eight places down to 50th place, making it the cheapest of the six German cities included in the index. The most expensive is Frankfurt, which ranks 19th in an international comparison. The Syrian capital Damascus takes last place in the study.
According to a statement from The Economist magazine, several factors have contributed to the increase in the cost of living for many city dwellers. Examples of this were the availability of goods and the corona measures that restricted production and trade. There have also been sharp increases in the cost of traffic.