Pakistan’s southern port metropolis of Karachi has been ranked among the many prime 10 least costly cities on the planet, in line with The Economist Intelligence Unit’s (EIU) Worldwide Value of Dwelling 2022 report.
It has ranked Damascus (Syria) and Tripoli (Libya) as the most affordable cities whereas Karachi stood on the sixth place on the index.
Iran’s capital Tehran is the third least costly metropolis adopted by Tunis and Taskent at fourth and fifth spots.
Kazakhstan’s Almaty and two Indian cities — Ahmedabad and Chennai — have been ranked seventh, eighth and ninth whereas Algiers is the tenth least costly metropolis on the planet.
Damascus
Damascus is the capital of war-ravaged Syria which is affected by deteriorating financial system.
Tripoli
Tripoli is the capital and largest metropolis of Libya, with a inhabitants of about 1.1 million individuals. It has been ranked second when it comes to dwelling bills.
Tehran
Tehran is the capital of Iran, within the north of the nation. In line with 2016 estimate, his inhabitants is almost 9 million.
Tunis
Tunis is the capital and largest metropolis of Tunisia, a rustic in North Africa. Its inhabitants is lower than one tens of millions and has been ranked fifth least expensive metropolis on the planet.
Karachi
Karachi is probably the most populous metropolis in Pakistan and one of the populous cities on the planet, with a inhabitants of over 20 million. It has been ranked sixth least costly metropolis.
In the meantime, New York tops the rankings for the primary time, tying with frequent chief Singapore, which is again in pole place for the eighth time in ten years. Collectively the 2 have bumped Tel Aviv (Israel; prime final yr) down into third place, EIU mentioned in an announcement.
Hong Kong and Los Angeles has been ranked at fourth spot.
New York
New York is probably the most populous metropolis in america with its inhabitants stands at 8.46 million. Fixed improve in home rents, and dwelling bills has made it the costliest metropolis.
Singapore
Singapore is a city-state with inhabitants of greater than six million. It has the world’s highest transport costs, owing to strict authorities controls on automobile numbers.
Tel Aviv
It’s a metropolis of Israel, which isn’t recognised by Pakistan on account of Palestine situation. The appreciating Israeli forex new shekel towards the U.S. greenback has made native prices dearer.
Hong Kong
Hong Kong has been ranked fourth as the costliest metropolis to reside in on account of rising costs of assorted objects.
EIU mentioned that the associated fee dwelling survey has seen costs shoot up by 8.1% yr on yr on common in 172 main cities worldwide.
The conflict in Ukraine and persevering with supply-chain issues have contributed to cost rises, affecting manufacturing and commerce internationally.
