The 4 Indian Cities Where The Cost Of Living Is Dead Cheap
New Delhi: As per a report by Economist Intelligence Unit (EIU), there are four Indian cities where the “cost of living” is cheaper compared to other cities in the globe while, Singapore seems to be the most expensive one for the fourth consecutive year.
Bangalore (3rd place), Chennai (6th), Mumbai (7th) and New Delhi (10th) have been ranked by EIU among the 10 cheapest cities in the world. The cheapest is Almaty in the world followed by Lagos. Karachi was placed 4th, Algiers (5th), Kiev (8th) and Bucharest (9th) rank.
According to the EIU, even though the Indian subcontinent remains cheaper than most other cities in the universe there are factors contributing to the instability of the country which in turn affects the cost of living. This means that there is some significant amount of risk involved in some of the world’s cheapest cities.
The Worldwide Cost of Living 2017 report says that Asia is a home to the world’s most expensive cities and at the same time, a home to some of the world’s most inexpensive cities.
Singapore has been ranked the world’s most expensive city followed by Hong Kong taking the second place and then, Zurich the third place.
Others in the 10 most expensive list include Tokyo at the 4th position, Osaka (5th), Seoul (6th), Geneva (7th), Paris (8th), New York (9th) and Copenhagen at 10th place.
Within Asia, the cities that have low cost of living are from the South Asian regions, particularly those in India and Pakistan, the report said.
Bangalore, Chennai, Karachi, Mumbai and New Delhi make up half of the 10 cheapest locations surveyed.
Official reports say that India is likely to expand fast in future as the Chinese growth declines. However, the cheaper cities tend to become less liveable. Now that the dollar is getting weaker more frequently against the other currencies, New York is the only North American city among the 10 most expensive cities, although Los Angeles remains highly ranked, in 11th place.
400 individual prices across 160 products and services are compared against by the EUI twice annually. These include food, drink, clothing, household supplies and personal care items, home rents, transport, utility bills, private schools, domestic help and recreational costs.
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