According to the Economist Intelligence Unit, Karachi is the city which is ranked the 6th cheapest city in the world.
Economist Intelligence Unit has produced a global Cost of Living report 2019 recently which includes data from 133 countries, the data focuses on the prices of consumer goods and services. Damascus the capital city of Syria secures the first rank in the list and becomes the world’s cheapest city to live in.
On the contrary, Paris, Singapore, New York, Los Angeles, and Hong Kong the world’s most expensive cities to live in for almost everyone including visitors, expatriates, and permanent residents.
The report indicates that in Paris a loaf of bread costs much more than in other cities of the world, $5.66 per Kg which only costs $1.46 in Karachi.
If we talk about clothing, shops in Paris would only allow you to buy a Men’s regular two-piece business suit for $2000.65 on average. The cost of suiting in Paris is 4 to 11 times higher than in Chennai and Karachi respectively which only costs $173.91 and $5.15.51 at a regular tailoring shop.
The report also highlighted the Asian countries that are most expensive in buying grocery items, and the costs in Europe are much higher in the household, entertainment, personal care, and recreation categories. Zurich and Geneva are the cities that are most expensive in these categories. Cost of living in Karachi is considered the cheapest in entire Pakistan as well, Lahore is a bit expensive than Karachi and Rawalpindi/Islamabad are even expensive than Lahore.