Tel Aviv is the most expensive city, surpassing Paris in the new report

Tel Aviv, Israel (AP)-Resident IsraelSeaside metropolis Tel Aviv For years they have been complaining about how expensive it is, and the cost of living has been deducted from their salary.

Now, a new report confirms their dissatisfaction with the price. Tel Aviv According to the data from the Economist Intelligence Unit, a research organization associated with The Economist, it has become the city with the highest cost of living.

IsraelThe financial and cultural center in the Mediterranean, previously ranked fifth among the most expensive places, has now surpassed other expensive places such as Paris and Singapore. In this year’s report, the previous champion Paris and Singapore tied for second most expensive, followed by Zurich and Hong Kong.

Israel Is expensive, in this respect, Tel Aviv More expensive than other places Israel Because there are good jobs there,” said Dan Ben-David, director of the Shorsh Institute of Social Economics and an economist at Tel Aviv University.

Economists attribute this jump to Shekel against the U.S. dollarIn Wednesday’s report, the Economist Intelligence Unit also pointed to rising groceries and transportation costs.The report does not include Tel AvivHousing prices-another common complaint of young professionals and families trying to live in a bustling city.

“It’s really hard to live here. You pay the rent, pay a small amount of money, and then live a life from salary to salary, it’s really hard,” Ziv Toledano, a transplanter from the north. Say Israel. He said his expenses almost doubled Tel Aviv.

The Israeli news media keeps comparing prices of basic commodities Israel For other Western countries, they have conveyed to the audience what their wallets have been clear for many years: this country is much more expensive than other countries.

Tel Aviv Yes IsraelFinancial and cultural center. It has a thriving high-tech scene, world-class restaurants and a Mediterranean beach, lined with sparkling new hotels and apartments.

The shekel is one of the strongest currencies in the world, and its value has been largely boosted by large amounts of foreign investment in the local high-tech sector.

Ben-David said that goods and services are Israel Generally more expensive than other countries. Tel Aviv The price is higher because it is the economic center of the country, and high-paying technology jobs attract talents from all over the country, thereby pushing up food and rent prices.

The city attracts more Israelis who want to be close to its vibrant cultural and social venues. Ben-David said that complicating the problem is that major traffic congestion to the city and insufficient traffic to the suburbs and surrounding cities have caused more people to want to live in the city.This, together with foreign buyers, caused real estate prices to skyrocket, making the purchase of apartments Tel Aviv It is almost impossible for ordinary Israelis. Even an average apartment in an ideal area may cost 4 million shekels, or more than 1.2 million U.S. dollars.

Ten years ago, hundreds of thousands of Israelis took to the streets to demand a solution to the rising cost of living.

Successive Israeli governments have worked hard to create better jobs in other parts of the country, and are trying to expand public transportation, but progress has been slow.

Copyright © 2021 The Washington Times, LLC.

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