Karachi ranks sixth in ‘cost of living’ survey, one of the cheapest in the world

The metropolis and largest and most populated city of Pakistan, Karachi has ranked sixth in the annual “Worldwide cost of living report” by the Economist Intelligence Unit.

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The Worldwide Cost of Living report released earlier this week ranked Karachi sixth cheapest city in the world out of a total 133 cities.

The EIU’s annual ranking compares the prices of over 150 items in 133 cities around the world.

Bangalore, Chennai and New Delhi are all featured among the top 10 cheapest locations this year. They were joined by Damascus, Caracus, Almaty, Lagos, Algiers and Bucharest.

However, the report added the cities which charted high on the index ranked cheap due to structural differences, lack of basic amenities and poor living conditions contribute to the city being ranked higher up in the chart.

Karachi, Algiers, Almaty and Lagos have faced well-documented economic, political, security and infrastructural challenges, and there is some correlation between The Economist Intelligence Unit’s cost of living ranking and its sister ranking, the livability survey, the report stated.

In a nutshell, cheaper cities are comparatively less habitable.

Meanwhile, Singapore has been declared the world’s most expensive city to live in for the fifth year.

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