Tel Aviv 6th most expensive city in the world
Six of the ten most expensive cities in the world (including Tel Aviv) are located in Asia
Tel Aviv is the sixth most expensive city in the world, according to an annual ranking published Wednesday by global consultancy firm ECA International.
The ranking of 207 cities measures where the cost of living for relocation is the highest globally.
The White City climbs one place from last year, while Hong Kong tops the rankings for the third consecutive year. New York and Geneva complete the top three.
Israel's capital Jerusalem rose three spots from 18th to 15th.
The list is based on a wealth of data, including the price of commodities like milk and cooking oil. Rent, public transport costs and the strength of the local currency are also considered. The ranking focuses on the cost of living for people who immigrated to the city from another country.
Six of the ten most expensive cities in the world (including Tel Aviv) are in Asia, as well as the city with the fastest rising prices in the world, Colombo, the capital of Sri Lanka, which rose from 162nd to 149th.
Paris, which was previously at the top of the ranking, is no longer even among the 30 most expensive cities in the world this year, as are Madrid, Rome and Brussels.
The company says almost all major European cities have fallen in the rankings this year, partly due to the weakening euro.