2020 Worldwide Cost of Living report ranks the most expensive and the cheapest cities in the world. Data from 133 cities were used to rank the cities in the world in terms of the cost of living. South Asia hosts a group of cheapest cities in the world.
Karachi stood at 129th position amongst a total of 133 countries. Damascus, Tashkent, Buenos Aires, Caracas, Lusaka, Chennai, Bangalore, and New Delhi are also in the list of the World’s cheapest cities.
Other than one Pakistani city on the list, there are three Indian cities that dominate the cheapest cities ranking.
When we come to the ranking of the most expensive cities in the world, Singapore is right at the top followed by Hong Kong, Osaka, New York, Paris, Zurich, Tel Aviv, Los Angeles, Tokyo, and Geneva.
A newcomer at the spot is Osaka that climbed up 4 places in comparison to last year. Osaka is Japan’s financial hub and the center for emerging startups.
It is pertinent to mention here that the COVID-19 pandemic will cost the global economy around $2 trillion in 2020. So even though governments want to boost their economy, they have concerns regarding higher inflation rates spreading across the world.