Tel Aviv, Damascus, Tehran: Highest, Lowest, Biggest Jump in Price Rankings
Tel Aviv, Israel, has the dubious honor of being the world’s most expensive city to live in, according to a study published on Wednesday by the Economist Intelligence Unit (EIU). The Worldwide Cost of Living survey tracked the cost of living across 173 cities across the world. It found that annual price increases in Israel’s Mediterranean coastal metropolis were steeper than they’ve been in five years, contributing to the city’s rise from fifth place to the top position as most expensive in the world. Paris and Singapore share second place in the rankings, followed by Zurich and Hong Kong. On the other end of the scale, Syria’s war-torn capital Damascus was ranked the least expensive in the world. Tehran, Iran took the biggest jump in the rankings, leaping from 79th to 29th place, with inflation there spurred by shortages as a result of US sanctions.