Israel Travel

Tel Aviv is offering a better value for money for travelers than the most of the countries of the eurozone, according to Economist Intelligence Unit's latest Worldwide Cost of Living survey.

Western Europe accounts for the overwhelming majority of the world's most expensive cities, as London (4th), Copenhagen (3rd) and Paris (2nd) have all overtaken Tokyo in the last 12 months to join Oslo as the world's most expensive destinations. Moscow (26th) is now more expensive than New York (28th), the most expensive destination outside Europe and Asia. Tel Aviv, Israel, is rank 47 in the EIU cost of living ranking table.

“Those travelling on a budget would do well to avoid Europe,” said Jon Copestake, the survey's editor. “The strength of European currencies plays a large part, but prices in Europe are also rising whereas those in Japan have been almost static."

Worldwide Cost of Living, the bi-annual Economist Intelligence Unit survey, compares prices and products in over 130 cities around the world. Only five cities in the Middle East and Africa saw the cost of living increase compared to destinations around them. Apart from Tel Aviv most of these were in Africa. Tehran, in Iran, presents the best value for money in the world.

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