Tel Aviv, Jerusalem rise in world’s most expensive cities ranking

Tel Aviv and Jerusalem have each risen within the 2022 rankings of the world’s costliest cities, compiled by world consultancy agency ECA Worldwide. ECA’s cost-of-living rating of 207 cities measures value rises together with rents, gasoline, foods and drinks to assist companies to make sure their staff’ spending energy is maintained, when despatched on worldwide assignments.

Tel Aviv has risen to the world’s fifth costliest metropolis from sixth place within the earlier rating, based on ECA, whereas Jerusalem has risen three locations from 18th to fifteenth.

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Hong Kong stays the world’s costliest metropolis, adopted by New York, as much as second from fourth, and Geneva, in third for the second 12 months working. London rose to fourth from fifth final 12 months and Tokyo fell to fifth from second in 2021. Tel Aviv was adopted by Zurich in seventh place with Shanghai, Guangzhou and Seoul rounding out the highest ten. San Francisco, Shenzhen, Singapore and Beijing preceded Jerusalem in fifteenth place.

Turkish capital Ankara was ranked 207, the most affordable metropolis within the rating.

ECA famous that Israel had the world’s second costliest gasoline after Hong Kong.

In mentioning Tel Aviv, ECA writes, “The Center Japanese tech hub, Tel Aviv (sixth), climbs one place within the rating. Its thriving tech scene, which was turbocharged by the pandemic and the shift in the direction of distant work, turned a lovely hotspot for a lot of multinational companies, drawing in a major quantity of overseas funding. The expansion in exports, together with of pure fuel, and higher relations with its neighbors has additionally contributed to the Israeli shekel appreciating towards the US greenback – making it one of many strongest world currencies within the final 10 years, and making Israel more and more one of the crucial costly places on this planet for expats.”

Printed by Globes, Israel enterprise information – en.globes.co.il – on June 8, 2022.

© Copyright of Globes Writer Itonut (1983) Ltd., 2022.