The economy of Israel, despite limited natural resources, has seen intensive development of the agricultural and industrial sectors over the past decades which has made Israel largely self-sufficient in food production, apart from grains and beef.
Jerusalem is the capital of Israel and its largest city. Historically, Jerusalem’s economy was supported almost exclusively by religious pilgrims, as it was located far from the major ports of Jaffa and Gaza. Jerusalem’s religious landmarks today remain the top draw for foreign visitors, with the majority of tourists visiting the Western Wall and the Old City. The government, centered in Jerusalem, generates a large number of jobs, and offers subsidies and incentives for new business initiatives and start-ups.
Jerusalem has an overall cost of living index which equates it with high 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.
The latest cost of living rank for each of the 13 Basket Groups is now available.