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Tel Aviv ranked as number one most expensive city

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Israeli city is named the world’s most expensive city above Paris and Singapore

Tel Aviv travel | Israel, Middle East - Lonely Planet

In a survey by the Economist Intelligence Unit, Tel Aviv has taken the top spot for the first time in the world cost of living ranking, jumping up from 5th place last year.

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.

Top five most expensive cities

  1. Tel Aviv
  2. Paris and Singapore in joint place
  3. Zurich
  4. Hong Kong

Top five cheapest cities

  1. Damascus
  2. Tripoli
  3. Tashkent
  4. Tunis
  5. Almaty

Source: EIU’s World Cost of Living index

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Why Australia is becoming the new home of the Hollywood blockbuster

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Australia’s multimillion-dollar campaign to attract Hollywood productions to its shores appears to be paying off.

The allure of Australia lies not only in its picturesque locations but also in its competitive financial incentives.

The government offers generous rebates and tax breaks to international productions, making it an attractive proposition for filmmakers looking to maximise their budgets.

Despite the recent intake of Hollywood productions down under such as ‘The Fall Guy’ and ‘Furiosa: A Mad Max Saga’, Aussie independents are still finding the space to carve their own creative path.

Rob Fantozzi joined the program to discuss the latest in Hollywood, and showcased his own upcoming project – ‘Omerta‘. #featured

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Portal between countries shut down after international flashing

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An international video portal has been forced to shut down after an OnlyFans model reportedly flashed passersby from across the globe.

On this episode of Ahron and Mike Live – Which would you prefer; pay rise or work perks, an international portal closes, the military reveal a submarine stingray and are you on a top or bottom burger bun?

Ticker’s Ahron Young & Mike Loder discuss. #featured #trending

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U.S. home prices surge 47%

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American home prices are rising at faster pace now than in the last 20-years.

A recent analysis reveals a jaw dropping surge in the cost of American homes.

Since the start of 2020, U.S. home prices have surged 47% easily outstripping the gains seen in recent decades.

On top of that, home price growth so far this decade is on the verge of surpassing all the growth seen in the 2000s.

Many experts believe this decade’s housing market frenzy was ignited by a perfect storm — the onset of the COVID-19 pandemic triggering an unprecedented rush among buyers.

Tom Hutchens, the Executive Vice President of Production at Angel Oak Mortgage Solutions joins Veronica Dudo to discuss.

#IN AMERICA TODAY #economy #housing #housingmarket #homeprices #homesales #inflation #trending

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