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      Archive: 12/17/2012

      News Brief

        12/17/2012, Tevet 4, 5773

      Tel Aviv Remains Most Expensive City in the Middle East

      Tel Aviv went down 13 notches to 45th place among the most expensive cities in the world, according to the annual rankings of the ECA International human resources company, which were released last week. The only Israeli city in the top 50, Tel Aviv retained its ranking as the most expensive city in the Middle East. Dubai rose 14 places to 173rd, while Jeddah, Saudi Arabia was the least expensive, five spots below Cairo, which rose 15 places.

      Tokyo maintained its most expensive spot in the rankings of 400 locations around the world. ECA carries out two cost-of-living surveys a year to help foreign companies determine costs for people it places in the various cities, It says the rankings are affected by inflation, the availability of goods and exchange rates. Lee Quane, ECA's regional director for Asia, said, "Accomodation rental, utilities charges, car purchases and school fees are not included, " explaining that this data is researched and published separately since they are usually compensated separately.