Tel Aviv tops Economist ranking of most expensive city in the world. We see the media retweeting the same title and not much analyzing of the reasons yet.
This is a phenomenon I noticed happening over the past decade or so (even though I haven’t called Tel Aviv home for over 15 years now).
As Tel Aviv isn’t the wealthiest or largest city in the world something is causing this imbalance in the pricing equilibrium.
Here are 10 attempts at explaining this dubious title:
1. Stronger local currency (Shekel) more than ever. This obviously will explain a lot since the prices are compared to a benchmark in USD, but this wont explain other places that saw similar strength in currency (Taipei for example).