6. Tel Aviv
The sixth most expensive city in the world is Tel Aviv, the second-largest city in Israel. Israel’s shekel has become one of the world’s most powerful currencies as a result of an increase in exports, notably natural gas. Tel Aviv is a center for all things luxurious and royal, which contributes in some measure to the high cost of living in the city.
It goes without saying that Switzerland is a wealthy nation, which explains why two of its cities are among the top ten most expensive places to live. Due to its sophisticated atmosphere, which also draws some of the world’s most wealthy and affluent individuals, the city also has some of the highest salaries in the world. Perhaps a large number of major banks with headquarters there is to blame for this.
The eighth most expensive city in the world for foreigners to reside in is Shanghai, the largest city in China. According to a Forbes assessment from the previous year, Shanghai was also the most expensive city in the world to live in. The country’s increased rates of inflation, which have been revealed in recent years, along with the Chinese yuan’s ongoing strength versus other major currencies, are two factors that contribute to the city’s high cost of living.
Guangzhou, another city in mainland China, is establishing itself as one of the most expensive places to live in the world. The city is comparable to Shanghai in that it shares many of the same characteristics that make it such an expensive place to live. Even though the city is less well-known among ex-pats, it’s not the cheapest destination to unwind due to the strength of the currency, inflation rates, and regular expense of living that comes with living in a highly populated country.
The capital of South Korea, Seoul, dropped from eighth to tenth place between 2021 and 2022. The high cost of living in the city and the substantial security deposits that people must pay are a big part of the reason why. It also has to do with the fact that, since the second part of the 20th century, the South Korean currency has tended to perform well as a result of the Republic of Korea’s economic stability and expansion. The nation also has a number of sizable construction firms and is one of the biggest vehicle and ship producers in the world.
These are the top 10 most expensive cities to live in 2022. It is evident that Asian, European, and North American cities are far more expensive to live in than their equivalents in Africa and South America, regardless of the order in which they are placed on the list. Paris, Rome, Brussels, and Madrid are no longer among the top 30 cities in the world, according to CNN.