We all love to live in beautiful cities, spending our days visiting the sites, roaming around the street. The cost of living is almost 60% of our earnings and maybe more based on our standard of living.
Ever wondered what is the cost of living in these cities and how is the most expensive city decided? Can you guess the most cheapest city in the world to live in?
Who compiles these data?
The Economist Intelligence Unit compiled the data of the Worldwide Cost of Living. Worldwide Cost of Living Index 2021 has released the list.
What is the procedure of data collection?
EIU ranked 133 cities in 93 countries surveying 50,000 individuals. This year's data was collected in August and September and the survey is done bi-annually. They surveyed 400 individual prices across 160 products and services to include— food, toiletries and clothing, domestic help, transportation, utility bills—in each city.
What are the driving forces for a city to be ranked the cheapest?
Low wages and income inequality limits household spending and creating many tiers of pricing as well as strong competition from a range of retail sources. This, combined with a cheap and plentiful supply of goods into cities from rural producers with short supply chains as well as government subsidies on some products, has kept prices down in these cities.
War has also been a factor in some of the cities.
Let's take a look at the World's 10 most cheapest places to live.
1. Damascus -Syria
Damascus is the capital of Syria, the oldest capital in the world and, according to some, the fourth holiest city in Islam. The city has been under war since 10 long years and is also one of the most unsafe cities in the world today. The beautiful city housing ancient history has beautiful ruins but is suffering a worst humanitarian crisis.
2. Tripoli-Libya
Tripoli continues to be hit by violence . The persistent insecurity throughout the country, including sustained armed conflict, a high risk of terrorist attacks, an unpredictable political situation and a high crime rate makes it highly unsafe.
3. Tashkent- Uzbekistan
Known for its many museums and its mix of modern and Soviet-era architecture, the beautiful city is making its mark on the travel industry with with many parks and fountains, beautiful statues, nice cafes, and great restaurants. Tashkent is the main economic and cultural centre of Central Asia.
4. Tunis- Tunisia
Tunis is a stylish city with bike tours, cool cafes and an annual arts festival. The Unesco-protected medina (old town) of Tunis making it one of the first Arab-Muslim towns in the Maghreb. You can explore the mosques and mausoleums, embrace the chaos of the souks and take a dip into the lavish buildings of Sidi Brahim.
5. Almaty- Kazakhstan
Known as the city of apples, the city is filled with leafy green trees, clean sidewalks sprinkled with hip cafes and trendy restaurants. Jagged snow-covered mountain peaks makes a beautiful backdrop of the city. Filled with ski resorts, historical destinations, grand canyon, museums, divine lakes the city should be in every traveller's bucketlist.
6. Karachi- Pakistan
Karachi , the noisy, bustling, ever-growing troubled metropolis of Pakistan, lies on the eastern coast of the Arabian Sea, just northwest of the Indus river delta. The city offers a remarkable variety of attractions and activities – from sunny, sandy beaches and scurf-infested old colonial buildings, still preserved and in some cases inhabited, to traditional bazaars and modern shopping malls.
7. Ahmedabad- India
Known as the Manchester of the East because of the many textile mills located here, Ahmedabad is most famous for being home to the Sabarmati Ashram associated with Mahatma Gandhi. The major attraction is the exquisite architecture that blends the Hindu and Islamic styles. In recent years, the city has become a hotspot for medical tourism with medical facilities available at low cost. Ahmedabad is a paradise for vegetarian food lovers.
8. Algiers- Algeria
Algiers is the capital city of Algeria, on the country’s Mediterranean coast. It’s known for the whitewashed buildings of the Kasbah, a medina with steep winding streets, Ottoman palaces and a ruined citadel. It is the political, economic, and cultural centre of the country. Algiers is not considered a popular tourist destination due to unrest in the country.
9. Buenos Aires- Argentina
Buenos Aires is one of Latin America’s most important ports and most populous cities, as well as the national centre of commerce, industry, politics, culture, and technology. The combination of rich architectural and cultural heritage, modern creative energy, electric nightlife, unique traditions, a vibrant arts scene, extensive parks, and warm, friendly hosts makes it one of the world's most exciting capitals.
10. Lusaka- Zambia
Lusaka has enjoyed something of a resurgence in recent years, with bustling city markets, a number of upmarket restaurants and bars, and good links around the country. It is a city that plays host to both the countries commercial and governmental hubs and the country’s four major highways leading out towards its borders stem from here.
As per reports, the costliest cities of the world are dominated by European and Developed Asian Cities while North American and Chinese cities were found to be moderately priced.
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