ISLAMABAD – Karachi has been ranked as the sixth least expensive city inthe world.
This was revealed in a survey conducted by the Economist Intelligence Unit.The price of living was compared in 133 cities. The increase in prices wascompared to the cost of living in New York, which has been used as abenchmark.
Two Indian cities were also a part of the list of the top 10 cheapestcities. New Delhi was ranked eighth, while Bangalore was ranked fifth, BBCreported link.
Venezuela’s Caracas was ranked as the least expensive city. Syria’sDamascus was the second cheapest, followed by Tashkent, Uzbekistan.
Argentina, Brazil, Turkey and Venezuela saw a sharp fall in their cost ofliving ranking this year too.
The researchers said a “growing number of locations” were becoming cheaperbecause of political or economic factors.
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Paris, Hong Kong and Singapore, on the other hand, were listed as the mostexpensive cities to live in.
Paris has always been among the top ten cities in the list since 2003,report author Roxana Slavcheva told BBC. “Only alcohol, transport andtobacco offer value for money compared with other European cities,” shesaid.
The average cost of a haircut in Paris is $119.04 as compared to $763.97 inZurich and $53.46 in Japan’s Osaka.
European cities were noted to have high costs for household expenditure,personal care, recreation and entertainment categories, Slavcheva said.
