This rank pushes last year’s winner, the one and only glamorous city of Paris down to joint second with Singapore followed by Zurich and Hong Kong
Tel Aviv’s climb to the top is mainly due to the soaring value of Israel’s currency and supply-chain problems.
The Israeili city has also seen price increases for approximately one tenth of goods in the city.
These increases are led by the rise in price of groceries and transport in local-currency terms.
The survey also found that Tel Aviv was the second most expensive city for alcohol and transport, fifth for personal care items, and sixth for recreation.
This comes as the rate of inflation is the fastest recorded over the past five years with data collected by the EIU in August and September showing that prices on average have risen 3.5% in local currency terms.
The EIU survey collects this data by comparing costs for goods and services in 173 cities with the US dollar.
Tel Aviv’s mayor, Ron Huldai made it clear that this isn’t necessarily good news as he warns the rising property prices (not included in EIU’s index) could see the city ‘explode’
“The fundamental problem is that in Israel there is no alternative metropolitan centre. In the United States, there is New York, Chicago, Miami and so on… There you can move to another city if the cost of living is too onerous,” Huldai said in an interview with Haaretz newspaper.
Compared to last year, most US cities have fallen in the list after the government responded to the covid-19 pandemic by injecting more money into the economy.
The war-torn city of Damascus in Syria maintained its spot in last place on the list, making it the cheapest city in the world.
TikTok users could soon find that the popular social media service is either under new ownership or could be outright banned in the United States.
President Joe Biden signed a bill into law that requires TikTok to find a new owner—or face a ban in the United States.
Over the past several months, Washington D.C. has been under pressure to ban the popular Chinese-owned social media app.
Lawmakers and security experts have long raised concerns that the Chinese government could tap TikTok’s trove of personal data about millions of U.S. users.
TikTok’s CEO said the bill is disappointing and reiterated that the company has committed to challenge it.
David Zhang from China Insider. joins Veronica Dudo to discuss
Threads, the social media platform owned by Meta, is gaining traction with a surge in daily active users, outpacing X in the U.S.
With Threads averaging 28 million daily active users compared to X’s 22 million, Meta’s ambitions to reach a billion users seem within reach despite a slowdown in growth. While X still boasts 550 million monthly active users globally, Threads’ focus on user experience and avoidance of real-time and political content could position it as a formidable competitor moving forward.
This weekend’s entertainment lineup has something for everyone.
Apple TV+ brings “Sugar,” a drama set in New York City, while “Civil War” offers historical intensity.
“Challengers” with Zendaya brings a saucy sport drama to life, and superhero buffs can catch the trailer for “Deadpool and Wolverine” for action-packed fun.
With options spanning drama, history, reality, and superheroes, there’s excitement in store for all this weekend.