Karachi has been ranked as the sixth most affordable city of the world in ‘Worldwide Cost of Living (WCOL) index 2022’ report issued by the economic intelligence unit (EIU).
The EIU, which tracks the everyday expense of 172 countries, has claimed in the report that inflation has soared at an average of 8.1% in the world’s biggest cities during the past year – highest in the last 20 years.
The WCOL has ranked Damascus (Syria) as the most affordable city of the world followed by Tripoli (Libya), Tehran (Iran), Tunis (Tunisia), Tashkent (Uzbekistan) and Karachi (Pakistan).
According to the research, the list of least expensive nations accurately reflected the countries’ fragile economies and currencies.
The research ranks Singapore as the most expensive country in the world, tied with New York (USA) for the eighth time in ten years. Tel Aviv (Israel), Hong Kong, Los Angeles, and Zurich (Switzerland) round out the top ten.
The ranking of the top ten cheapest cities in the world, according to the most recent data, is dominated by Asian cities.
The poll claimed to have tracked the pricing of 200 products between August 16 and September 16. Due to the Russia-Ukraine war, the survey this year did not include the capital of Ukraine, Kiev.
