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Karachi sixth cheapest city in the world: report
Photo: AFP
Karachi has been named as one of the cheapest cities in the world by the Economist Intelligence Unit.
The Worldwide Cost of Living report released earlier this week ranked Karachi as the sixth cheapest city in the world of a total 133 cities.
The EIU's annual ranking compares the prices of over 150 items in 133 cities around the world.
Bangalore, Chennai and New Delhi are all featured among the top 10 cheapest locations this year. They were joined by Damascus, Caracus, Almaty, Lagos, Algiers and Bucharest.
However, the report noted that although the region in which Pakistan lies remains structurally cheap, instability is becoming an increasingly prominent factor in lowering the relative cost of living of a location. This means that there is a considerable element of risk in some of the world’s cheapest cities.
Karachi, Algiers, Almaty and Lagos have faced well-documented economic, political, security and infrastructural challenges, and there is some correlation between The Economist Intelligence Unit’s cost of living ranking and its sister ranking, the liveability survey, the report stated.
Put simply cheaper cities also tend to be less livable, it added.
World’s most expensive cities
Meanwhile, Singapore has been dubbed the world's most expensive city to live in for the fifth year running.
The city state marched in ahead of New York, London and Los Angeles, which didn't even feature in the top 10 priciest places in EIU’s survey.
Singapore's top ranking is reflective of a regional trend, with the costs of living picking up across parts of Asia as their economies expand.
From Asia, Seoul and Hong Kong also featured in the top 10 most expensive cities.
Europe, too, continues to be expensive — Paris, Zurich, Oslo, Geneva and Copenhagen appeared in the top 10. The only city outside of Asia or Europe to appear in the top 10 was Sydney.
Meanwhile, the weakening of the US dollar in 2017 caused New York and Los Angeles to slip to 13th and 14th positions, respectively.
https://www.geo.tv/latest/186828-karachi-sixth-cheapest-city-in-the-world-report
Bengaluru fifth cheapest city in the world: Report
As per The Economist Intelligence Unit’s report, Bengaluru is the world’s fifth cheapest city while Chennai and New Delhi are at eighth and tenth places, respectively
The report said that Bengaluru, Chennai, Karachi and New Delhi feature among the ten cheapest locations surveyed. Photo: Hemant Mishra/Mint
Bengaluru: Bengaluru is the world’s fifth cheapest city while Chennai and New Delhi, at eighth and tenth places, respectively, are among the top ten cheapest cities to live in, a new report said.
As per The Economist Intelligence Unit’s report “Worldwide cost of living 2018; Which global cities have the highest cost of living”, Bengaluru is one of cheapest in 133 global cities.
“Asia is home to some of the world’s most expensive cities—but to many of the world’s cheapest cities too. Within Asia, the best value for money has traditionally been offered by South Asian cities, particularly those in India and Pakistan,” according to the report.
Click here for enlarge
The report surveys more than 400 individual prices across 160 products, which include food, drink, clothing, household, private school fees and even cost of domestic help and other services.
The report adds that Bangalore (now Bengaluru), Chennai, Karachi and New Delhi feature among the ten cheapest locations surveyed. “India is tipped for rapid economic expansion, but in perhead terms wage and spending growth will remain low. Income inequality means that low wages are the norm, limiting household spending and creating many tiers of pricing as well as strong competition from a range of retail sources,” the report said.
“This, combined with a cheap and plentiful supply of goods into cities from rural producers with short supply chains as well as government subsidies on some products, has kept prices down, especially by Western standards.”
War-torn city of Damascus in Syria was the first in the cheapest cities list followed by Caracas, the South American city in Venezuela.
The report adds that Damascus and Caracas are becoming cheaper because of the impact of political or economic disruption, while the Indian subcontinent remains structurally cheap. “Although the Indian subcontinent remains structurally cheap, instability is becoming an increasingly prominent factor in lowering the relative cost of living of a location. This means that there is a considerable element of risk in some of the world’s cheapest cities,” the report finds.
“Karachi, Algiers, Almaty and Lagos have faced well-documented economic, political, security and infrastructural challenges, and there is some correlation between The Economist Intelligence Unit’s cost of living ranking and its sister ranking, the liveability survey. Put simply, cheaper cities also tend to be less liveable,” it said.
On the most expensive city list, Singapore continued its reign at the top for the fifth consecutive year. Paris, Zurich, Hong Kong and Oslo joined the most expensive cities at the top.
http://www.livemint.com/Politics/c8...-fifth-cheapest-city-in-the-world-report.html
Photo: AFP
Karachi has been named as one of the cheapest cities in the world by the Economist Intelligence Unit.
The Worldwide Cost of Living report released earlier this week ranked Karachi as the sixth cheapest city in the world of a total 133 cities.
The EIU's annual ranking compares the prices of over 150 items in 133 cities around the world.
Bangalore, Chennai and New Delhi are all featured among the top 10 cheapest locations this year. They were joined by Damascus, Caracus, Almaty, Lagos, Algiers and Bucharest.
However, the report noted that although the region in which Pakistan lies remains structurally cheap, instability is becoming an increasingly prominent factor in lowering the relative cost of living of a location. This means that there is a considerable element of risk in some of the world’s cheapest cities.
Karachi, Algiers, Almaty and Lagos have faced well-documented economic, political, security and infrastructural challenges, and there is some correlation between The Economist Intelligence Unit’s cost of living ranking and its sister ranking, the liveability survey, the report stated.
Put simply cheaper cities also tend to be less livable, it added.
World’s most expensive cities
Meanwhile, Singapore has been dubbed the world's most expensive city to live in for the fifth year running.
The city state marched in ahead of New York, London and Los Angeles, which didn't even feature in the top 10 priciest places in EIU’s survey.
Singapore's top ranking is reflective of a regional trend, with the costs of living picking up across parts of Asia as their economies expand.
From Asia, Seoul and Hong Kong also featured in the top 10 most expensive cities.
Europe, too, continues to be expensive — Paris, Zurich, Oslo, Geneva and Copenhagen appeared in the top 10. The only city outside of Asia or Europe to appear in the top 10 was Sydney.
Meanwhile, the weakening of the US dollar in 2017 caused New York and Los Angeles to slip to 13th and 14th positions, respectively.
https://www.geo.tv/latest/186828-karachi-sixth-cheapest-city-in-the-world-report
Bengaluru fifth cheapest city in the world: Report
As per The Economist Intelligence Unit’s report, Bengaluru is the world’s fifth cheapest city while Chennai and New Delhi are at eighth and tenth places, respectively
The report said that Bengaluru, Chennai, Karachi and New Delhi feature among the ten cheapest locations surveyed. Photo: Hemant Mishra/Mint
Bengaluru: Bengaluru is the world’s fifth cheapest city while Chennai and New Delhi, at eighth and tenth places, respectively, are among the top ten cheapest cities to live in, a new report said.
As per The Economist Intelligence Unit’s report “Worldwide cost of living 2018; Which global cities have the highest cost of living”, Bengaluru is one of cheapest in 133 global cities.
“Asia is home to some of the world’s most expensive cities—but to many of the world’s cheapest cities too. Within Asia, the best value for money has traditionally been offered by South Asian cities, particularly those in India and Pakistan,” according to the report.
Click here for enlarge
The report surveys more than 400 individual prices across 160 products, which include food, drink, clothing, household, private school fees and even cost of domestic help and other services.
The report adds that Bangalore (now Bengaluru), Chennai, Karachi and New Delhi feature among the ten cheapest locations surveyed. “India is tipped for rapid economic expansion, but in perhead terms wage and spending growth will remain low. Income inequality means that low wages are the norm, limiting household spending and creating many tiers of pricing as well as strong competition from a range of retail sources,” the report said.
“This, combined with a cheap and plentiful supply of goods into cities from rural producers with short supply chains as well as government subsidies on some products, has kept prices down, especially by Western standards.”
War-torn city of Damascus in Syria was the first in the cheapest cities list followed by Caracas, the South American city in Venezuela.
The report adds that Damascus and Caracas are becoming cheaper because of the impact of political or economic disruption, while the Indian subcontinent remains structurally cheap. “Although the Indian subcontinent remains structurally cheap, instability is becoming an increasingly prominent factor in lowering the relative cost of living of a location. This means that there is a considerable element of risk in some of the world’s cheapest cities,” the report finds.
“Karachi, Algiers, Almaty and Lagos have faced well-documented economic, political, security and infrastructural challenges, and there is some correlation between The Economist Intelligence Unit’s cost of living ranking and its sister ranking, the liveability survey. Put simply, cheaper cities also tend to be less liveable,” it said.
On the most expensive city list, Singapore continued its reign at the top for the fifth consecutive year. Paris, Zurich, Hong Kong and Oslo joined the most expensive cities at the top.
http://www.livemint.com/Politics/c8...-fifth-cheapest-city-in-the-world-report.html
