For the first time, Tel Aviv was named as the world's most expensive city according to The Economist. Tel Aviv has long been known for its high cost of living, especially within that past decade plus, however it had yet to take the top spot on annual rankings until now. Much of the city's high cost, as well as that of Israel overall, can be chalked up to the country's "island economy" and the increased prices of groceries and transportation as well as continuously high import costs.
Photo: Aerial view of a section of the Ayalon Highway, which runs between Tel Aviv and Ramat Gan.
Matanya Tausig/Flash 90
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