Tel Aviv Hotel Rooms Are Among Priciest in World, Study Shows

According to Bloomberg index of world's top 100 financial centers, San Francisco is most expensive city for hotel room, followed by Geneva; Tel Aviv ranks sixth, Jerusalem 14th.

Tel Aviv is a costly place to live, and visitors to the city are likely to find themselves as affected by the soaring prices as residents: an index compiled by Bloomberg of the world’s top 100 financial centers found that hotels in the White City are among most expensive in the world. 

The average price for a hotel room in Israel's White City rose 8.1 percent in the past year to $241, ranking sixth on Bloomberg's scale.

Topping the list is San Francisco, whose technology-industry boom, soaring job market and scarcity of hotel construction have driven up prices by 88.2 percent in the past year, according to Bloomberg.

The California city took the top spot from Geneva, Switzerland, which ranked second this year at $292 per night.

Chicago and Miami tied as the United States' second-most expensive cities for a night's stay, at $240 per night, followed by Los Angeles at $297 per night. New York trailed behind at $202 per night, ranking 16th on the global scale.

Jerusalem was the second-most-expensive city in Israel for hotel rooms, ranking 14th in the world at an average of $210 per night.