Tel Aviv, Asia's Most Expensive City to Live In in 2021

Based on the numbeo.com website, which measures the cost of living globally, Tel Aviv was the city with the highest cost of living in Asia in 2021, with a cost of living index of 92.2. This score is 3.2 points higher than Paris.

According to The Economist Intelligence Unit (EIU), Tel Aviv has the highest cost of living in Asia because the city has become a major export hub in recent years, strengthening the Israeli Shekel.

Globally, Tel Aviv's cost of living index ranked 21st, after Aarhus, Denmark. The city with the highest cost of living in the world was Hamilton, Bermuda, with a cost of living index of 150.73 in 2021.

Other cities with the highest cost of living include Jerusalem with an index of 86.19, followed by Nagoya with an index of 85.49. Of the 10 most expensive cities in the world, five are in Israel, two in Japan, and one each in Singapore, Hong Kong, and South Korea. Jakarta ranked 47th with an index of 41.51.

The indicators used to calculate the index of the cities with the highest cost of living in Asia include comparisons of rental prices, grocery prices, food and beverage prices in restaurants, transportation costs, household utility bills, school fees, domestic help costs, and recreation costs.

(Read More: 10 Cities with the Highest Cost of Living in the World)