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 Residing Survey and compiled by the Economist Intelligence Unit, brings some unhealthy information for many who stay in two of America’s largest cities.
New York Metropolis ranks sixth on the subject of 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 high 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 high spot–Tel Aviv, Israel.
The explanation for Tel Aviv’s ascension? There are a number of, however one of the fundamental ones is the energy of the Israeli shekel towards the U.S. greenback all through 2021. The shekel gained 4% towards the U.S. greenback, reports CNBC, which noticed about 10% of items in the metropolis turn into extra expensive.
The complete record of The Economist’s most expensive cities to stay in for 2021 is: