Citizens of five cities around the world are likely to feel more pressure on their bank accounts, according to a new report.

In the Economic Intelligence Unit's cost-of-living report, the most expensive city to live in 2021 is Tel Aviv.

The Israeli city climbed five places from last year to take first place, largely driven by rising prices for nearly a tenth of the goods in the city.

Paris - the most expensive city for 2020 - was placed in second place, along with Singapore, followed by Zurich and Hong Kong.

The list goes on to New York, Geneva, Copenhagen, Los Angeles, Osaka, Oslo, Seoul, Tokyo, etc.

The cheapest cities to live in are mainly in Africa, the Middle East and parts of Asia. Damascus, Syria, has retained its place as the freest place in the world to live from last year.