Tel Aviv 24th most expensive city in world to live in

Tel Aviv climbed sharply to the 24th place from the 38th place in 2008. Jerusalem has also become a more expensive city to live in, moving up 12 spots to the 27th place
 
A cost of Living Survey made by human resources consultancy ECA ranks Tel Aviv as the 24th most expensive city in the world to live in for foreign residents.
 
The survey shows that Tel Aviv climbed sharply to the 24th place from the 38th place in 2008. Jerusalem has also become a more expensive city to live in, moving up 12 spots to the 27th place. ECA's survey, which it conducts twice a year, is based on a comparison of the cost of a basket of products and services in 370 cities.
 
The rise in the cost of living in the two Israeli cities is mainly attributed to the appreciation of the shekel, which has bounced by 16% compared to the USdollar in the past 12 months.
 
ECA found that Luanda, the capital of Angola, was found to be the costliest location in the world for resident foreigners, followed by four Japanese cities. Copenhagen, Oslo, Geneva, Zurich and Basel complete the top 10 most expensive locations for foreigners this year.
 
ECA also found that Tokyo is the most expensive city in Asia, among other things because of the strengthening of the yen against other currencies. Beijing, Shanghai, Hong Kong and Singapore were among the most expensive in Asia.