BREAKING NEWS

Tel Aviv more expensive than Paris, New York

By GUY KATSOVITCH/GLOBES

JUNE 12, 2012 23:32

Tel Aviv is the most expensive city in the Middle East for expatriates and one of the most expensive in the world, according to the annual Worldwide Cost of Living Survey of 214 cities by Mercer. Tel Aviv rose seven places in the ranking to No. 31 from No. 38 in 2011.

Tel Aviv outranks New York (No. 33) and Paris (No. 37) but is below London (No. 25). Tokyo tops the rankings, followed by Luanda (Angola), Osaka, Moscow, Geneva, Zurich, Singapore, N’Djamena (Chad), Hong Kong and Nagoya.

The cost-of-living survey is designed to help multinational companies and governments determine compensation allowances for their expatriate employees. New York is the baseline city.

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