Metropolis residing isn’t low-cost, however in some locations, issues are getting much more expensive. The Economist has revealed its annual record of the world’s ten most expensive cities (via Al Jazeera). The 2021 record, formally titled the Worldwide Price of Dwelling Survey and compiled by the Economist Intelligence Unit, brings some unhealthy information for individuals who stay in two of America’s largest cities.
New York Metropolis ranks sixth relating to the most expensive cities to stay in for 2021. However issues aren’t significantly better for the powerhouse metropolis on the West coast both. Los Angeles additionally made the prime 10, coming in at the ninth most expensive metropolis to stay in for 2021.
2021 additionally noticed the dethroning of the 2020 most expensive metropolis to stay in. Final 12 months, there was no metropolis extra expensive than Paris, France. However in 2021, Paris dropped all the way down to the #2 spot (tying with Singapore) and a brand new metropolis rose to the prime spot–Tel Aviv, Israel.
The rationale for Tel Aviv’s ascension? There are a number of, however one of the predominant ones is the energy of the Israeli shekel in opposition to the U.S. greenback all through 2021. The shekel gained 4% in opposition to the U.S. greenback, reports CNBC, which noticed about 10% of items in the metropolis turn into extra expensive.
The total record of The Economist’s most expensive cities to stay in for 2021 is:
- Tel Aviv, Israel
- Paris, France (tied for 2nd place)
- Singapore (tied for 2nd place)
- Zurich, Switzerland
- Hong Kong, China
- New York, United States
- Geneva, Switzerland
- Copenhagen, Denmark
- Los Angeles, United States
- Osaka, Japan