EIU Global Cost: Karachi ranked as the sixth cheapest city worldwide.
The UK-based Economist Group’s forecasting, consulting, research, and analysis unit, or EIU, releases a “World Cost of Living” report each year.
The research names Tripoli, the capital of Libya, as the second-most affordable city, with Damascus, the capital of Syria, coming in first.
Due to the ongoing armed situations in Syria and Libya, both cities’ economy continued to be in disarray this year. On the list, Tunis, Tunisia, is listed as number four.
Unexpectedly, eight Asian towns have been listed as some of the least expensive in the world.
In the most recent study, Almaty (Kazakhstan), Tehran (Iran), and Tashkent (Uzbekistan) were ranked third, fifth, and seventh, respectively, with Karachi (Pakistan) maintaining its sixth-place position from 2021.
In addition, the Indian cities of Ahmedabad and Chennai are eighth and ninth, respectively, while Bangalore, also in India, and Colombo, in Sri Lanka, are tied with Algiers, Algeria, for tenth position.
The most and least expensive cities in the world to live in are listed annually by EIU. To create the rating, it compares more than 400 individual prices of more than 200 important commodities.
Among the necessities are food, drink, clothing, household goods, personal care items, and rent for a dwelling. Other expenses include transportation, utility bills, education, and recreation.
The other cities are ranked in comparison for the Worldwide Cost of Living report, with New York serving as the survey’s reference city and having an index of 100.
The study also helps human resource and finance managers create compensation packages for expatriates and business travelers and determine cost of living allowances. Supermarkets, mid-range businesses, and specialized shops all engage in it.
