Nowhere is living cheaper than in these cities. Represented in the ranking are Africa, Asia and also a metropolis from Europe. The top 10 Cheapest cities in the world.
What do I get for my money? The answer to this question decisively determines the real value of personal income. For more than 30 years, the financial analysts of the Economist Intelligence Unit have been recording the cost of living worldwide.
For this purpose, the prices of more than 160 products and services in 133 cities are recorded every six months in March and September. The costs of food, drink, clothing, rent, utilities, mobility and leisure activities are of interest to the calculation. But fees for private schools and domestic help are included in the calculation.
All cities are compared directly to New York City. The metropolis thus defines the measurement basis with the index valued at 100. These are the cheapest cities in the world.
10. New Delhi
The Indian capital is in the same place as the previous ranking. It scores 48 in the index, so it costs less than half of that in New York. The experts explain that one of the reasons for that is the generally low wage level and the wide range of cheap goods in India.
The capital of Romania shares the ninth rank with New Delhi in the list of the 10 Cheapest cities in the world. Among the 133 cities, they rank 124th in the cost of living which is the same as in the previous year.
Bucharest is the only European city in the top 10 cheapest cities in the world.
Chennai is the capital of the Indian state of Tamil Nadu and is the sixth-largest city in the country, with 4.6 million inhabitants. Its name was Madras until 1996.
The population density here is more than twice as high as in New York. The metropolis on the south-east coast of the subcontinent has been boosted by one rank in the cost of living list. The city is in the index at 47 (New York = 100).
Especially low living costs are often an expression of political, economic and social crises. Sometimes, there is considerable risk in some of the world’s cheapest cities and Algiers, the capital of Algeria, also falls into this category.
Algiers shares in the cost of living rank 127th place with Karachi. Pakistan’s largest city was three places lower in the previous ranking. Now Karachi comes to an index value of 46.
Suggested Read: The 10 Highest Mountains In The World
Bangalore has climbed up two places in its cost of living. However, the metropolis known as an IT hub continues to be the cheapest of all cities studied in India.
More than 18 million people live in Lagos. This makes the metropolis not only the largest city in Nigeria. It is also one of the most densely populated metropolitan areas in the world.
A loaf of bread costs here currently 1.16 US dollar. Ten years ago, according to the study, it was $3.41.
With 1.7 million inhabitants, Almaty is the largest city in Kazakhstan. In addition to the capital Astana, it forms the economic and cultural centre of the Central Asian country.
Almaty ranks 131st in the ranking – two ranks higher than last year.
The cost of living in Caracas has gone steeply downhill. The capital of Venezuela slipped by 13 places compared to the previous ranking and is now ranked 132nd with an index of 33. Life in Caracas is exactly one third as expensive as in New York.
Damascus officially is the cheapest city in the World. The front runner Damascus has also experienced a drop in prices. Last year, the Syrian capital ranked 14 places higher in the Economist ranking.
The study estimates the average price of a loaf of bread in Damascus currently 0.60 US dollars. Five years ago, it was $ 3.62. Ten years ago and before the outbreak of civil war, bread cost was the equivalent of $ 2.34.
Suggested Read: What The Well-Known Brands Were Called In The Past
Three Indian cities are on the list of top 10 cheapest cities in the world. Well, the cost of living is compared to New York where the prices for everything are insanely high.