It’s tied in first place with Bangalore, India this year, but Karachiites can feel blessed that they’re living in the best place in Pakistan, which, despite being a buzzing hub of culture, business and diversity, is also one of the most affordable cities on the planet where you’ll get the best value for your money.
A report by the Economist Intelligence Unit published recently, listed cities in 133 countries across the world according to affordability. The list compares the cost of a basket of 160 plus goods, including food, clothing, toiletries, transport, domestic help and utility bills.
With Zambia’s capital, Lusaka, emerging as the now cheapest city in the world, it’s worth noting that India and Pakistan together account for five out of ten least expensive cities on the globe.
Researchers say that 2015 has been the most volatile year as far as changing economic factors, the strength of the US dollar and currencies in comparison, falling oil and commodity prices, and geopolitical instability is concerned.
On the other end of the spectrum, Singapore has been rated as the most expensive city in the world, with Zurich, Hong Kong, Geneva and Paris following its lead. London and New York aren’t far behind, taking sixth and seventh places respectively.