Friday, March 5, 2010

Israel, Jerusalem Cost of Living January 2010

LOCATION: Israel is in the Middle East, bordering the Mediterranean Sea, between Egypt and Lebanon.

CAPITAL CITY: Jerusalem

LARGEST CITY: Jerusalem

CURRENCY: Israeli New Shekel (ILS)

ECONOMY: Israel has a technologically advanced market economy. Israel has intensively developed its agricultural and industrial sectors over the past 20 years, despite its limited natural resources. Israel is on the most part self-sufficient for agricultural products, but does import substantial quantities of grain. Leading exports include cut diamonds, high-technology equipment, and agricultural products (fruits and vegetables). The conflict with Lebanon in summer 2006 dampened GDP growth, but continuing strong foreign investment, tax revenue, and private consumption levels helped the economy recover quickly. Jerusalem houses the government, which not only generates a large number of jobs, but also offers subsidies and incentives for new business initiatives and start-ups.

Jerusalem has an overall cost of living index which equates it with middle cost of living locations. The overall cost of living index is comprised of the prices for defined quantities of the same goods and services across all 13 Basket Groups. Jerusalem is currently ranked 103 overall, most expensive place in the world for expatriates to live, out of 276 international locations. The cost of living overview for each of the 13 Basket Groups is as follows:

Alcohol & Tobacco costs for alcoholic beverages such as alcohol at bar, beer, locally produced spirit, whiskey, and wine as well as tobacco products such as cigarettes is relatively more expensive compared to other cities with a rank of 65 out of 276.

Clothing costs for clothing and footwear products such as business suits, casual clothing, childrens clothing and footwear, coats and hats, evening wear, shoe repairs, and underwear is relatively less expensive compared to other cities with a rank of 230 out of 276.

Communication costs for various communication costs such as home telephone rental and call charges, internet connection and service provider fees, mobile / cellular phone contract and calls is equally expensive on average compared to other cities with a rank of 131 out of 276.

Education costs such as creche / pre-school fees, high school / college fees, primary school fees, and tertiary study fees is equally expensive on average compared to other cities with a rank of 99 out of 276.

Furniture & Appliance costs for furniture, household equipment and household appliances such as dvd player, fridge freezer, iron, kettle, toaster, microwave, light bulbs, television, vacuum cleaner, and washing machine is relatively more expensive compared to other cities with a rank of 20 out of 276.

Grocery costs for food, non-alcoholic beverages and cleaning material items such as baby consumables, baked goods, baking, canned foods, cheese, cleaning products, dairy, fresh fruits, fresh vegetables, fruit juices, meat, oil & vinegars, pet food, pre-prepared meals, sauces, seafood, snacks, soft drinks, spices & herbs is relatively less expensive compared to other cities with a rank of 202 out of 276.

Healthcare costs for general healthcare, medical and medical insurance such as general practitioner consultation rates, hospital private ward daily rate, non-prescription medicine, and private medical insurance / medical aid contributions is equally expensive on average compared to other cities with a rank of 147 out of 276.

Household costs for housing, water, electricity, household gas, household fuels, local rates and residential taxes such as house / flat mortgage, house / flat rental, household electricity consumption, household gas / fuel consumption, household water consumption, and local property rates / taxes / levies is equally expensive on average compared to other cities with a rank of 128 out of 276.

Miscellaneous costs related to stationary, linen and general goods and services such as domestic help, dry cleaning, linen, office supplies, newspapers and magazines, and postage stamps is relatively more expensive compared to other cities with a rank of 64 out of 276.

Personal Care costs for personal care products and services such as cosmetics, hair care, moisturizer / sun block, nappies, pain relief tablets, toilet paper, toothpaste, and soap / shampoo / conditioner is relatively more expensive compared to other cities with a rank of 86 out of 276.

Recreation and Culture costs such as books, camera film, cinema ticket, DVD and CDs, sports goods, and theatre tickets is equally expensive on average compared to other cities with a rank of 137 out of 276.

Restaurants, Meals Out and Hotel costs such as business dinner, dinner at a restaurant (non fast food), hotel rates, take away drinks and snacks (fast food) is relatively more expensive compared to other cities with a rank of 35 out of 276.

Transport costs for public transport, vehicle costs, vehicle fuel, vehicle insurance and vehicle maintenance such as hire purchase / lease of vehicle, petrol / diesel, public transport service maintenance, tires, vehicle Insurance, and vehicle purchase is relatively more expensive compared to other cities with a rank of 68 out of 276.

Your exact customized cost of living index for Jerusalem is based on which of the above basket groups as well as the comparison location you select in the Calculators.

In terms of the hardship people are likely to experience, assessed in global terms, Jerusalem is ranked as a high degree of hardship location with a hardship index of 30%.

Your exact customized hardship index premium for Jerusalem is based on the comparison location that you select in the Calculators.