The Magazine for Asian Investors
The EIU this year again issued data on the most expensive cities in the world. The ranking of the most expensive cities is compared on the basis of the cost of living. This year was certainly not a normal year. The recovery of the markets and the economy continued despite the ongoing pandemic. Inflationary pressures are present around the world with inflation increases not seen for decades.
Tel Aviv (Israel) landed in the first place this year. The pandemic also hit Tel Aviv hard, which was reflected in problems with the supply chain and currency policy. The result was, as in most regions of the world, a high inflation rate of 3.5% YoY, which is far higher than the 1.9% YoY in 2020.
Paris follows in second place, ahead of Singapore, Zurich, and Hong Kong.
The inflation rate has also skyrocketed in France and Singapore this year. In France, inflation rose by 2.8% YoY and in Singapore by 3.8%.