According the Economist Intelligence Unit’s (EIU) worldwide cost of living index, Karachi, Mumbai, Jeddah and Iranian capital Tehran are among the cheapest cities in the world while Tokyo and Osaka are costliest cities.
New Delhi, Feb 6/Nationalturk: The financial capitals of Pakistan and India– Karachi and Mumbai alongwith Saudi Arabia’s Jeddah and Iranian capital Tehran are among the cheapest cities in the world, according to latest survey.
“Pakistan’s financial capital Karachi is the world’s cheapest city. It is followed by India’s financial capital Mumbai,” disclosed the Economist Intelligence Unit’s (EIU) worldwide cost of living index.
EIU had surveyed 131 cities across the world.
The EIU survey found that Karachi and Mumbai share the ranking based on costs of over 160 items ranging from transport, utilities, food and clothing.
According to the survey, India’s capital Delhi, which was recently in news for a gang rape of a woman in a moving bus, ranked 3rd cheapest city in the world. “Income inequality means that household spending levels are low on a per capita basis, which has kept prices down, especially by Western standards,” the EIU report said.
As per the report, Nepal’s capital Kathmandu is 4th cheapest city in the world. It is followed by Algiers, Bucharest, Colombo, Panama, Jeddah and Tehran.
Tokyo costliest city of the world
The EIU’s Cost of Living index found Tokyo to be the costliest city in the world.
The second costliest city, as per EIU survey is Osaka. It is followed by Sydney, Oslo, Melbourne, Signapore, Zurich, Paris, Venezuelan capital Caracas and Geneva.
The survey said Tokyo displaced Zurich to No 7 as a result of steep real estate costs and rents, as well as high wages fuelling prices.
No North American cities features in the top 20. “The cost of living in New York had risen relative to other places in the US. It shares 27th position as the most expensive US city with Los Angeles,” the EIU report said.
The survey is released twice a year by EIU, which compares hundreds of prices across 160 products and services including items like food, drink, rentals, utility bills, schooling costs and household supplies.
Write your comments and thoughts below
Faiz Ahmad / NationalTurk India News