Tel Aviv becomes world’s most expensive city

Tel Aviv has been ranked the world’s most expensive city to live in. The Israeli city climbed five spots in the past 12 months to take the unwanted title away from last year’s joint winners of Paris, Hong Kong and Zurich, according to the authoritative ranking system compiled by the Economist Intelligence Unit. The French capital was joint second with Singapore, while Zurich and Hong Kong made up the rest of the top five. New York was in sixth place, with Geneva in seventh, and Copenhagen, Los Angeles and Osaka rounding off the Top 10. London rose three spots to 17th position. Tel Aviv’s surge up the table was partly due to the strength of the national currency, the shekel, against the dollar, as well increases in prices for transport and groceries. Forty new cities were added to the rankings this year. Edinburgh was the highest new entry on the charts, coming in at joint 27th. The Guardian Photo © Shutterstock