You would probably not believe your ears but India’s tech capital Bengaluru has been declared the third cheapest city in the world, says a report compiled by the Economist Intelligence Unit, an arm of The Economist Group.
The list includes three other Indian cities, with Chennai occupying the sixth place, Mumbai seventh and New Delhi tenth position. The four Indian cities are among the 10 cheapest cities on the planet to live.
Almaty, Kazakhstan's largest metropolis, has been ranked as the cheapest city in the world followed by Lagos. Karachi was placed 4th, Algiers 5th, Kiev 6th and Bucharest 9th rank.
On the other hand, Singapore retained its title as the world’s most expensive city for the fourth consecutive year, followed by Hong Kong and Zurich.
Other cities in the most expensive list include Tokyo at the 4th position, Osaka (5th), Seoul (6th), Geneva (7th), Paris (8th), New York (9th) and Copenhagen at 10th place.
“Although the Indian subcontinent remains structurally cheap, instability is becoming an increasingly prominent factor in lowering the relative cost of living of a location. This means that there is a considerable element of risk in some of the world s cheapest cities,” said EIU.
The EIU’s Worldwide Cost of Living 2017 report – a ranking of the world’s major cities – said Asia is home to some of the world’s most expensive cities and also to many of the world’s cheapest cities.
The Worldwide Cost of Living is a bi-annual (twice yearly) EIU survey that compares more than 400 individual prices across 160 products and services. These include food, drink, clothing, household supplies and personal care items, home rents, transport, utility bills, private schools, domestic help and recreational costs.