Study Reveals The World’s Most Expensive Place To Live In

 

A recent study has unveiled the most expensive place to live in in 2021 across the entire globe.

 

 

A survey conducted by the Economist Intelligence Unit (EIU), called the World Cost of Living, saw the city move from fifth place in 2020 to first in 2021, leaving Singapore and Paris tied in second place.

 

bridge during night time

 

The study compared goods and services from 173 cities in relation to how much they cost in US dollars, as per the BBC.

 

 

Over the past five years, all of the cities saw prices rise by an average of 3.5%, according to data collected in August and September. The cities also saw an increase of 21% in the cost of a litre of petrol. The cost of travel was subsequently noted as having had the biggest increase in price.

 

aerial view of city buildings near sea during daytime

 

The most expensive city was revealed to be Tel Aviv, Israel while the cheapest location in the world was found to be Damascus, Syria.

 

 

Several things factored into the results such as a significant increase in groceries and an increase in the prices of roughly 10% of goods. Issues with supply-chains and rising inflation were also cited as reasons for why Tel Aviv has been deemed the most-costly place to live in the world.

 

In terms of recreation, Tel Aviv came in sixth place, fifth for personal care items, and second for transport and alcohol.

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