The Numbeo released the semi-annual cost of living index which compares the cost of living in 440 cities around the world. The cost of living in Israel is 14.61% higher than in the United States. Rent in Israel is 21.59% lower than in the United States.
Tel Aviv ranks 16th in the world for restaurant meal prices:
| Restaurants | Israel | New York |
|---|---|---|
| Meal, Inexpensive Restaurant | 60.00 ₪ | |
| Meal for 2 People, Mid-range Restaurant, Three-course | 220.00 ₪ | |
| McMeal at McDonalds (or Equivalent Combo Meal) | 50.00 ₪ | |
| Domestic Beer (0.5 liter draught) | 29.00 ₪ | |
| Imported Beer (0.33 liter bottle) | 27.00 ₪ | |
| Cappuccino (regular) | 11.98 ₪ | |
| Coke/Pepsi (0.33 liter bottle) | 8.51 ₪ | |
| Water (0.33 liter bottle) | 6.58 ₪ |
According to Numbeo, the most expensive city in the world is Zurich, Switzerland. Other cities in the country received the places 2 to 5 on the list, in the following order: Basel, Lausanne, Geneva, and Bern. Three Norwegian cities ranked 6 through 8 on the list: Stavanger, Oslo, and Trondheim. New York is in 11th place and San Francisco 12th.
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Tokyo’s 18th place is the most expensive in Asia. African cities are all in the lower half of the list, with the most expensive city on the continent being South Africa’s Pretoria, which ranks 252.
The firm’s semi-annual ranking is published each year in January and July. In the ranking, each city is compared to New York (which is arbitrarily awarded 100 points). This means that a city that receives 120 points will be 20% more expensive than New York and vice versa.
The cities of Israel have been given a very high global ranking. Tel Aviv is ranked 20th (out of 440 cities in the world) in its cost of living, though it is still cheaper than New York, which ranks 11th. Haifa stands 31st and Jerusalem 34th.
Among 100 Asian cities surveyed, Tel Aviv has reached the top. After Tokyo, Tel Aviv is Asia’s most expensive city – more than Signpur, Hong Kong and Dubai. The city of Haifa is ranked fifth and Jerusalem in the seventh, also starring in the top ten of Asia’s most expensive cities.
The Numbeo firm has also reviewed rents in world cities. The most expensive city in the world to rent is San Francisco, followed by Manhattan in New York, San Jose in California’s Silicon Valley, Brooklyn, and Hong Kong.
Tel Aviv ranks 42th in the world (out of 440 cities), with average rent still at 55% of the rent required in New York. The situation of Jerusalem and Tel Aviv is much better when it comes to average rent – Jerusalem ranks 111th in the world and Haifa ranks 20th among the 440 cities in the world.
Another separate measure was devoted to restaurant meal prices, and in this ranking, Tel Aviv is even more expensive, and it ranks 16th in the world among the 440 cities surveyed.
Looking at the purchasing power of the inhabitants of the world cities – some products and some services allow them to buy their average salary – the situation of Israeli cities is improving in the global comparison, but it is still poor. Tel Aviv residents earning average wages can buy 25% fewer goods and services than New York residents with their average wages.
At the other end of the cost of living index, which found out which are the cheapest cities in the world – the cities of India and Pakistan have ruled in all the last 20 places. In Western Europe, the nine cheapest cities are in Germany followed by Vienna, the tenth cheapest city in Western Europe.
