Last year’s leader – Paris – slipped to second, closely followed by Singapore. Among other cities in the most expensive top 10 are, in succession, Zurich, Hong Kong, New York, Geneva, Copenhagen, Los Angeles, and Osaka. Economist Intelligence Unit (EIU) released its December 2021 worldwide cost of living index yesterday, and the world’s new most expensive city, according to EIU, is quite a shocker.

The EIU’s survey assessed the cost of living across 173 global cities and compared the prices of over 200 everyday products and services. Israel’s Tel Aviv has been crowned as the world’s most expensive city to live in, jumping to the top of the list, from fifth place last year, for the first time ever. According to the EIU, Tel Aviv climbed up the rankings due to the rise in the Israeli currency, the shekel, “buoyed against the [US] dollar by Israel’s successful COVID-19 vaccine rollout,” which was one of the quickest in the world.