Karachi and Islamabad are among the world’s top 10 cheapest cities in the world, according to The Economist Intelligence Unit’s Worldwide Cost of Living 2019 report.
The megalopolis called home by over 16 million people has improved its ranking and moved to third from sixth in the list of cheapest cities in the world consistently over the past decade, even ranking as the cheapest city a few times.
The report pointed out that although the best value for money ─ at least by Western standards ─ is traditionally offered by South Asian cities and certain Middle Eastern cities, cheap does not always mean cheerful. “Put simply, cheaper cities also tend to be less liveable,” the report noted.
For instance, the cheapest city this year, Caracas in Venezuela, “saw a significant worsening of economic conditions in 2018, with hyperinflation and a breakdown in public services fuelling growing social unrest”, the report stated.
In the list of cheapest cities Tunisia on top and Tashkent on second.
The most expensive cities list Hong Kong on top, Tokyo second, Singapore third, Seoul fourth, Zurich fifth and Shanghai on sixth.