World World's most expensive cities to live in during Covid
Protests against Covid rules and lockdowns erupt across Europe
Protests against fresh Covid restrictions have continued to rock Europe over the weekend. There were demonstrations in Vienna, Brussels and Amsterdam against new Covid rules. Fresh coronavirus cases continue to surge across the continent. © Provided by CNBC A demonstrator lights a smoke bomb during a rally held by Austria's far-right Freedom Party FPOe against the measures taken to curb the Covid pandemic, at Maria Theresien Platz square in Vienna, Austria on November 20, 2021.
All over the world, it's been a tough year on wallets.
Purse strings have gotten as tight as thumb screws.
Supply-chain blockages and changing consumer demand have pushed up the cost of living in many of our biggest cities, according to new research published Wednesday, and inflation is the fastest recorded over the past five years.
One city has been experiencing more rapid change than most, jumping from fifth place to first in this year's Worldwide Cost of Living index released by the(EIU).
The Israeli city of Tel Aviv topped the rankings for the first time, overtaking last year's leader Paris, which is now tied in second place with Singapore.
Washington Nationals sued by ex-employees over vaccine firing
The Washington Nationals are being sued by two former employees who were fired for refusing to comply with the team’s COVID-19 vaccine mandate. Lawrence (Larry) Pardo and Brad Holman were pitching coaches in the Nats’ organization. The two refused to get the COVID-19 vaccine for religious reasons and were fired by the Nats as a result. The team instituted a mandate on Aug. 12 that went into effect on Sept. 10, leading to the firing of both men.Now the two have filed a lawsuit against the club, TMZ Sports reports.
The EIU attributes Tel Aviv's sharp rise on the index to increases to grocery and transport prices and the strength of the Israeli shekel against the US dollar.
Everyday goods and services
The 2021 Worldwide Cost of Living index tracks the cost of living across 173 global cities -- 40 more than last year -- and compares the price of more than 200 everyday products and services.
Data for the survey, which has been carried out for more than three decades, is gathered by EIU's global team of researchers each March and September.
The index is benchmarked against prices in New York City, hence cities with currencies that are stronger against the US dollar are likely to appear higher in the rankings.
Zurich and Hong Kong are at Nos. 4 and 5 respectively, having held the top spot last year alongside Paris. New York, Geneva, Copenhagen, Los Angeles and Osaka round up the rest of the top ten.
Here Are the Most 'Attractive' Global Cities. But Can They Keep Their Edge in the Post-Pandemic World?
Many of the world's major global cities saw a significant decrease in competitiveness during the COVID-19 pandemic , as governments tightened border restrictions and imposed tough social distancing restrictions, according to the 2021 Global Power City Index (GPCI). © Alexander Spatari—Getty Images London continues to be the most attractive city but its overall index score dipped, according to the Global Power City Index released Wednesday. It remains to be seen whether, in the post-pandemic world of work, these global hubs will retain their ability to attract the highest-caliber workers.
The upper rankings rankings continues to be dominated by European and developed Asian cities. The lowest-ranking cities are mainly in the Middle East, Africa and less wealthy parts of Asia.
The EIU reports that, on average, prices for the goods and services covered by the index have risen by 3.5% year on year in local-currency terms, compared with an increase of just 1.9% this time last year.
Those much-reported global supply-chain problems have contributed to price rises and the Covid-19 pandemic and social restrictions are still affecting production and trade around the world. With a new coronavirus variant currently causing widespread alarm, these issues won't be going away in a hurry.
Rising oil prices drove a 21% increase in the price of unleaded petrol, reports the EIU, but there were also big price hikes in the recreation, tobacco and personal care categories.
As Europe virus cases surge, UK plows on with its new normal
LONDON (AP) — The bars are shut in Vienna, and the Christmas market is empty in Munich, as several European nations tighten up or even lock down to combat a spike in coronavirus infections. Meanwhile in London, couples sip mulled wine at a seasonal market near the River Thames, full-capacity audiences fill the seats at the nearby National Theatre, and friends huddle over pints in pubs throughout the city. Not for the first time in the pandemic, Britain is out of step with many of its neighbors. But this time, it’s happy to be different.The U.K.
The highest-rising city in 2021 was the Iranian city of Tehran, which jumped 50 places from No.79 to No.29 as US sanctions resulted in shortages and higher prices.
The Syrian city of Damascus once again ranks as the cheapest city in the world, as its war-torn economy continues to struggle. Damascus and Tehran suffered from very high inflation in 2021, as did Caracas in Venezuela and Buenos Aires in Argentina.
More to come
Upasana Dutt, head of Worldwide Cost of Living at EIU, said in a statement: "Although most economies across the world are now recovering as Covid-19 vaccines are rolled out, many major cities are still seeing spikes in cases, leading to social restrictions. These have disrupted the supply of goods, leading to shortages and higher prices.
We can clearly see the impact in this year's index, with the rise in petrol prices particularly stark. But not all cities saw price increases. Many of the cities towards the bottom of our rankings saw prices stagnate or even fall, partly because their currencies weakened against the US dollar.
Over the coming year, we expect to see the cost of living rise further in many cities as wages increase in many sectors. However, we are also expecting central banks to raise interest rates, cautiously, to stem inflation. So the price increases should start to moderate from this year's level."
Swiss vote on ending restrictions amid Covid surge
Sunday's referendum is held in a country with one of the lowest vaccination rates in Western Europe. Now, Covid-19 infections are rising exponentially, with case numbers rising by 40% to 50% each week. So is the health minister planning new restrictions, like neighbouring Germany, or even making vaccination mandatory, like Austria?Not a bit of it. In fact, on Sunday, Switzerland votes on getting rid of some Covid restrictions altogether.
World's most expensive cities to live 2021
1. Tel Aviv, Israel
2. (tie) Paris, France
2. (tie) Singapore
4. Zurich, Switzerland
5. Hong Kong
6. New York City, New York
7. Geneva, Switzerland
8. Copenhagen, Denmark
9. Los Angeles, California
10. Osaka, Japan
11. Oslo, Norway
12. Seoul, South Korea
13. Tokyo, Japan
14. (tie) Vienna, Austria
14. (tie) Sydney, Australia
16. Melbourne, Australia
17. (tie) Helsinki, Finland
17. (tie) London, UK
19. (tie) Dublin, Ireland
19. (tie) Frankfurt, Germany
19. (tie) Shanghai, China
and the most expensive city in the world is ... .
© Wanganqi / Getty Images Tel Aviv is now the most expensive city in the world. A stronger motto, consumer goods, but also more expensive transport ... It was unless it was necessary to propel such Aviv on the first step of the podium of the most expensive cities in the world. The Israeli destination was fifth in 2020, in this annual ranking that has reference value each year. in 2020, never for the last five years the prices have risen so quickly.