Not Paris, New York or Singapore, but Tel Aviv will be the most expensive city in the world to live in in 2021. According to research by the British business magazine The Economist in which 173 cities were compared. Tel Aviv is pricey due to the increased value of the shekel, the Israeli currency, and higher prices for groceries, alcohol and transportation.
Last year, Paris was the most expensive city in the world. Tel Aviv, which houses a well-functioning tech sector, among other things, was still in fifth place. In the top ten of most expensive cities, besides Tel Aviv, there are four European cities, three Asian and two American (New York and Los Angeles).
Amsterdam is in the middle
Amsterdam is admittedly the most expensive Dutch city to live in, but internationally, the capital is in the middle class. Amsterdam is in 40th place, eight places lower than in 2020, and has therefore become relatively cheaper.
Amsterdam stands out negatively in one category. It is the second most expensive city in the world to refuel. According to the report, you have to pay an average of 1.92 euros per liter at an Amsterdam gas station. That was the price of a liter of unleaded petrol at the time of the study – at the end of September. Meanwhile, fuel prices have risen even further. Only in Hong Kong is refueling even more expensive.
Rome is the biggest drop in the ranking compared to 2020: the Italian capital goes from place 32 to 48. According to The Economist, the Romans mainly spent less money on chic clothing because of working from home, causing the prices of clothing in Italy to fall.
The Iranian capital, Tehran, is the biggest climber, and is now no less than fifty places higher in place 29. Sanctions by the United States caused a shortage of goods in Iran and import prices rose, which was reflected in the prices in Iranian shops .
In the list of cheapest cities to live, Damascus, the capital of Syria, tops the list, followed by Tripoli (Libya) and Tashkent (capital of Uzbekistan).
The research shows that the prices of goods and services have risen worldwide. This is mainly due to delivery problems: in September companies paid four to seven times as much for a standard container as a year earlier. Consumers worldwide have felt this in their wallets.
In total, the prices of 200 product categories were examined. Fuel and general transport costs rose the fastest. Cigarettes also became more expensive worldwide (plus 6.7 percent).
Global food prices have risen ‘modestly’ and the price of a beer barely changed either. The only category of items to become cheaper across the board in 2021 was clothing.
A version of this article also appeared in NRC on the morning of December 2, 2021
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