Tel Aviv

Tel Aviv, Israel, has consistently risen to the rankings of the world's most expensive cities, owing in large part to the rising value of Israel's currency, the Shekel, in relation to the US dollar. The monthly cost of living for a family of four without rent is estimated to be around $4,361.

When it comes to paying for everyday expenses like rent, food and drink, recreation, cigarettes, transportation, clothing, utilities, and petrol, Tel Aviv is currently the most costly city in the world. However, the two main elements contributing to Tel Aviv's rising cost of living expenses are grocery and transportation prices.

Tel Aviv was founded in 1909 to provide modern housing to residents of Jaffa, an ancient port city. This is why Tel Aviv was given the name "Ahuzat Bayit," which translates to "House Estate." However, in just one year, its name was altered to a play on "Tel Abib," a biblical word that means "of Spring."

Country: Israel

Population: 435,855