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.
A new Catholic prayer app recently beat out major social media apps in global downloads.
The company says, Hallow passed 10-million downloads and 225-million prayers prayed around the globe, becoming the largest prayer app in the world.
Hallow has also become the first faith-based app to ever crack the top 10 apps in the App Store coming in at #3 overall–and beating Netflix, Spotify, Instagram, Amazon, Tiktok, and YouTube.
The Cofounder and CTO of Hallow Erich Kerekes joins Veronica Dudo to discuss. #IN AMERICA TODAY #featured #apps #prayerapp #socialmedia #Applestore #business
Search Generative Experience (SGE), is the latest innovation from Google Labs
This cutting-edge feature, recently announced by Google, is set to transform search results for a select subset of queries and a small portion of U.S. search traffic.
With SGE, instead of the traditional top-10 results, users may encounter AI-generated responses prominently displayed at the top of the page.
This shift has significant implications, as it pushes both ads and organic results further down the page. Stay tuned for updates on this groundbreaking development in search technology.
The world’s biggest battery maker announced this week they’re working with Tesla to making cheaper batteries.
Recent developments in the electric vehicle (EV) market raise essential questions about its trajectory.
Cost cuts by the world’s largest battery maker could impact EV prices, potentially boosting their competitiveness. Meanwhile, advancements in mileage, power, and charging times are driving increased adoption.
However, considerations about downsides like battery disposal and resource extraction are pertinent. Nonetheless, the broader implications for climate change efforts and the automotive industry underscore the transformative potential of EVs in creating a more sustainable future.