It is a global city and is ranked 34th in the Global Financial Centres Index. Tel Aviv has the third- or fourth-largest economy and the largest economy per capita in the Middle East. The city has the 31st highest cost of living in the world. Tel Aviv receives over 2.5 million international visitors annually. A “party capital” in the Middle East, it has a lively nightlife and 24-hour culture. Tel Aviv is home to Tel Aviv University, the largest university in the country with more than 30,000 students.
In 1880s, new neighborhoods were founded outside Jaffa on the current territory of Tel Aviv. The first was Neve Tzedek, founded by Mizrahi Jews due to overcrowding in Jaffa and built on lands owned by Aharon Chelouche. Other neighborhoods were Neve Shalom (1890), Yafa Nof (1896), Achva (1899), Ohel Moshe (1904), Kerem HaTeimanim (1906), and others. Once Tel Aviv received city status in the 1920s, those neighborhoods joined the newly formed municipality.
In 1906, a group of Jews, among them residents of Jaffa, followed the initiative of Akiva Aryeh Weiss and banded together to form the Ahuzat Bayit (lit. “homestead”) society.
The first 60 plots were purchased in Kerem Djebali near Jaffa by Jacobus Kann, a Dutch citizen, who registered them in his name to circumvent the Turkish prohibition on Jewish land acquisition.
on April 11, 1909, 66 families gathered on the sand dunes on the beach outside Yafo to allocate plots of land for the new neighborhood. As the families could not decide how to allocate the land, they held a lottery to ensure a fair division.
The first water well was later dug at this site, located on what is today Rothschild Boulevard, across from Dizengoff House. Within a year, Herzl, Ahad Ha’am, Yehuda Halevi, Lilienblum, and Rothschild streets were built; a water system was installed, and 66 houses (including some on six subdivided plots) were completed.
On 21 May 1910, the name Tel Aviv was adopted. Tel Aviv is named after Theodor Herzl’s 1902 novel, Altneuland (“Old New Land”), whose title was translated to Hebrew as Tel Aviv.
By 1914, Tel Aviv had grown to more than 1 square kilometre (247 acres). However, growth halted in 1917 when the Ottoman authorities expelled the Jewish residents of Jaffa and Tel Aviv. Jews were free to return to their homes in Tel Aviv at the end of the following year when after the Ottomans lost and British took control.
Tel Aviv, established as suburb of Jaffa, received township or local council status in 1921, and city status in 1934.
According to a census conducted in 1922 by the British Mandate authorities, Tel Aviv had a population of 15,185 inhabitants, consisting of 15,065 Jews, 78 Muslims and 42 Christians.
On 1 May 1921, after the Jaffa Riots resulted in many deaths and injuries, many Jews left Jaffa for Tel Aviv, increasing the population to around 34,000 by 1925. In the 1931 census – 46,101.
Tel Aviv is the second most populous city in Israel—after Jerusalem—and the most populous city in the conurbation of Gush Dan, Israel’s largest metropolitan area. Located on the country’s Mediterranean coastline and with a population of 443,939, it is the economic and technological center of the country. Silicon Wadi is another name for Gush Dan, in comparison to Silicon Valley in California, U.S.