VIDEO – While Dubai perhaps holds the distinction as the Middle East’s most ostentatious city with its massive skyscrapers and endless shopping malls, a new survey has found that Tel Aviv is the region’s most expensive.
According to ECA International, Tel Aviv fell from 32nd most expensive place to live in the world to 45th place since last year, but still ranked as the priciest place in the Middle East.
What’s fuelling the city’s high prices? Observers point to its position as a renowned regional hub of high-tech and hedonism. A powerhouse for technology companies like Google, it is also an ever-popular destination for tourists seeking the escapism of its eclectic nightlife scene.