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Very surprising given the competition: Hong Kong, Oslo, Monaco...Israel is never in top 10 of the richest places on earth so the balance cost vs income must be hurting them big time.
Very surprising given the competition: Hong Kong, Oslo, Monaco...Israel is never in top 10 of the richest places on earth so the balance cost vs income must be hurting them big time.
I think the cost of living in Israel is very high in general. The lower income population probably can't afford to live in Tel Aviv unless they have some affordable housing that they have been living in for many years already.
Israel has a very strong currency and Tel Aviv have higher wages than the rest of the nation. In 2016 the average household income after taxes in Tel Aviv was $67,000. https://www.haaretz.com/israel-news/...onth-1.5476423
Wages in Israel has grown by 20% since then, so assuming Tel Aviv had the same growth, then Tel Aviv has a net average household income of $80,000 in 2021. Tel Aviv has an average family size of 2.2, so family sizes are not large like other places in Israel.
I didn't expect wages to be so high in Tel Aviv, but with so high wages it is not a surprise that it is an expensive city.
Israel has a very strong currency and Tel Aviv have higher wages than the rest of the nation. In 2016 the average household income after taxes in Tel Aviv was $67,000. https://www.haaretz.com/israel-news/...onth-1.5476423
Wages in Israel has grown by 20% since then, so assuming Tel Aviv had the same growth, then Tel Aviv has a net average household income of $80,000 in 2021. Tel Aviv has an average family size of 2.2, so family sizes are not large like other places in Israel.
I didn't expect wages to be so high in Tel Aviv, but with so high wages it is not a surprise that it is an expensive city.
Israel has always been expensive. Its PPP per capita is lower than nominal. Few countries are that way and they are all extremely expensive ones like Switzerland and Norway.
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