It’s the first time three cities have shared the top spot in the 30-year history of the annual Economist Intelligence Unit survey.
The survey compares the cost of 160 items, such as food, drink, transport, utility bills, and rent, in 133 cities
The Economist Intelligence Unit noted that costs in the cheapest cities were low by Western standards, partly because low wages limiting household spending are the norm there.
It also said a “growing number of locations” were becoming cheaper because of the impact of political or economic disruption, citing crisis-hit Caracas in Venezuela and war-torn Damascus in Syria, which are at the bottom of the list.
THE ANNUAL INDEX WAS DESIGNED TO HELP COMPANIES CALCULATE COST-OF-LIVING EXPENSES FOR EXPATRIATES AND BUSINESS TRAVELLERS.
“The 10 expensive cities in the world”
Singapore (Singapore)
Paris (France)
Hong Kong (China)
Zurich (Switzerland)
Geneva (Switzerland)
Osaka (Japan)
Seoul (South Korea)
Copenhagen (Denmark)
New York (US)
“The 10 cheapest cities in the world”
Caracas (Venezuela)
Damascus (Syria)
Tashkent (Uzbekistan)
Almaty (Kazakhstan)
Bangalore (India)
Karachi (Pakistan)
Lagos (Nigeria)
Buenos Aires (Argentina)
Chennai (India)
New Delhi (India)
“THERE IS A CONSIDERABLE ELEMENT OF RISK IN SOME OF THE WORLD’S CHEAPEST CITIES,”
