What comes to your mind when you hear about the cheapest cities in the world? With inflation hitting the world every now and then, people are finding it difficult to maintain their standard of living and yet lead a satisfactory life. The cost of living is something which troubles the common man in this super expensive era.
But The Economist Intelligence Unit (EIU) survey has found out some of the cheapest cities in the world and India’s three cities are on the list. Interestingly, two out of the four metropolitan cities of India are found making it to this list.
Cheapest cities in the world according to this survey:
City: Damascus, Country: Syria
The Syrian capital, also known as the City of Jasmine, has been ranked at the first position for the cheapest cities in the world. It is a major cultural center of the Arab world.
City: Caracas, Country: Venezuela
Officially known as the Bolivarian Republic of Venezuela, the largest agglomeration of this country is the city of Caracas. It is considered to be one of the most culturally, economically and industrially active cities in the whole of South America.
City: Almaty, Country: Kazakhstan
The largest city of Kazakhstan makes it to the third position in this list. This city has commercial importance in the country and is also the most populous city.
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City: Lagos, Country: Nigeria
One of the fastest growing cities in the world, Lagos is the most populous city in Nigeria in the African continent. It also houses one of the largest and busiest ports of the continent.
City: Bengaluru, Country: India
The third most populous city of India, Bengaluru makes it to the fifth rank. Though the city seems to be very expensive, it made to this list.
City: Karachi, Country: Pakistan
The transport hub of Pakistan, Karachi is the sixth most populous city in the world. It is Pakistan’s premier industrial and financial centre.
City: Algiers, Country: Algeria
The capital and the largest city of Algeria, Algiers is the 7th cheapest city in the world.
City: Chennai, Country: India
Located off the Bay of Bengal and the capital of Tamil Nadu, this is the 2nd Indian city which made to this list.
City: Bucharest, Country: Romania
The capital and largest city of Romania is the 8th cheapest city in the world. It is one of the most economical cities of Romania.
City: New Delhi, Country: India
The seat of all three branches of the Government of India and also the capital also makes to this list with Bengaluru and Chennai.
For some extra information, Singapore came out to be the most expensive city in the world. One of the cities of the war struck country of Syria grabs the first place in the list. Doesn’t it get more obvious for its rank?
The survey also highlighted that the best value for money is found in South Asian countries. Though the Indian economy is exploding in terms of wage and spending growth, India ranks very low. This is primarily because of the extensive level of income disparity existing at all levels of hierarchy.
This survey also remarked on the potent risk in the cheapest cities in the world. The structural instability of these countries adds to the major risk in the cost of living in these countries which are not really a good sign. Can you interpret the veiled risk in finding three of our metropolitan cities in the list?