As per the findings of the 30th annual survey about the cost of living conducted by The Economist Intelligence Unit, Karachi has been ranked as the 6th cheapest livable city in the world. The results have been compiled after surveying thoroughly and comparing the costs of 160 items in 133 cities.
The top spot on the list, making them the most expensive cities to live in, has been acquired by three cities: Singapore, Paris and Hong Kong. The author of the said report, Roxana Slavcheva, said that the risk factor in the ‘cheapest’ cities is usually high and also they tend to be less liveable.
”There is a considerable element of risk in some of the world’s cheapest cities. Put simply, cheaper cities also tend to be less liveable” – she wrote in her report.
There was a specific trend obvious in this year’s list, that is a drop in the cost of living in places like Brazil, Turkey, Argentina and Venezuela. A number of factors have affected the change – key two reasons being volatile currency fluctuations and inflation during the last year.
Due to the recent crisis in Venezuela and the US’s political monopoly in the region challenging the democratic government’s legitimacy, Caracas has been declared as the cheapest city to live in. Arch-rival India has three cities in the bottom 10 list – Bangalore, Chennai, and New Delhi.
~ VIA || ET
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