Economist Intelligence Unit’s (EIU) has announced the Worldwide Cost of Living Index 2021. According to the Index, Tel Aviv, Israel has become the most expensive city in the world to live in in 2021, pushing Paris, France and Singapore jointly to occupy the second spot with Zurich and Hong Kong at the fourth and fifth spots respectively.
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Tel Aviv climbed from 5th place to the top in 2021 due to the rising value of the Israeli currency shekel against the US Dollar along with the increase in the price of grocery and transport. Syria’s Damascus was ranked as the world’s cheapest city.
Key points of the Index:
Worldwide Cost of Living 2021 Index
The Worldwide Cost of Living Index examines the cost of living in 173 cities and measures impactful global events. The cost of the living study is conducted twice a year.
Important takeaways for all competitive exams:
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