Israel ranked eighth most expensive country in the world

Business magazine says country more costly to live in than Hong Kong, U.K. and U.S., but cheaper than Switzerland, Japan and Luxembourg; ranking calculated using cost of living, rental prices, store prices, restaurant costs and purchasing power

Israel is ranked eighth among the countries with the highest cost of living in the world, according to CEOWORLD business magazine.

The ranking puts Israel as more expensive than Hong Kong, Singapore, Britain, France and the United States, the latter of which was ranked 20th.

Switzerland and Norway took first and second places respectively, with Iceland placed third, Japan fourth, Denmark fifth, Bahamas in sixth place and Luxembourg in seventh.

To determine the rankings, the magazine used national and international media reports, research studies, consumer price indices and the cost of living index, The Jerusalem Post said.
The ranking takes into account five main parameters: cost of living, rental prices, store prices, restaurant costs and purchasing power.

The consumer price index for Israel is 81.15, and is measured against a base line for the city of New York, which received an index of 100.

This means that a country that scores less than 100 is considered to have a “cheaper” cost of living than New York, while more than 100 is considered “expensive.”

Israelis have long complained about the high cost of living in the country, which triggered mass protests in multiple cities in 2011.


The Chief Rabbi of Albania, Yoel Kaplan: There is no greater satisfaction when saving a life!

The Chief Rabbi of Albania, Yoel Kaplan, was part of the search and rescue team sent to Turkey by the…


‘Israel must up the ante against Iran,’ outgoing Mossad chief says

Receiving an honorary doctorate from Bar-Ilan University, Yossi Cohen says the Mossad "is in the war for peace. This task…


Hagoel letter to Kolleshi: I want to work with “Israel House Albania” for the benefit of Israel and the Jewish people

The President of the World Zionist Organization, Yaakov Hagoel, letter of acknowledgments to the President of "Israeli House Albania", Indrit…


Sympathy of Kosovo for the State of Israel is very great

Republic of Kosovo you were kind to me. That’s how I decided to start the amount of my official visit…


Prophecies in Israeli Ethno-Religious Reality

If we were to list the countries where religious legitimacy is most influential, Israel would definitely be one of them,…


Austria shares responsibility for the Holocaust, visiting president says

Alexander Van der Bellen lays wreath at Yad Vashem, tells President Rivlin that his country aims ‘to ensure that Jews…


Israeli Defense Contractor IAI Builds Laser Cannon

Israel planned to use a laser technology to defend against long and short-range threats, but a development project was stopped…