According to a comprehensive survey conducted by Mercer, an esteemed international company, Islamabad, the capital city of Pakistan, and Karachi, a bustling port city in the south, have the Cheapest Cities in the world. These two cities have obtained the distinguished honor of being ranked at the very bottom of the list in terms of cost of living.
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Here are the Details of Cheapest Cities in World
Hong Kong has once again claimed the top position in our City Ranking for Cost of Living. Singapore has made a significant leap, advancing six places since last year, and now secures the second spot, surpassing Zurich, which now ranks third. According to the company’s blog, the least expensive cities in the ranking are Havana, which experienced an 83-place drop, partially attributed to significant currency devaluations in the middle of last year, as well as Karachi and Islamabad, two cities located in Pakistan.
Read More: Most Expensive Cities for Expats in 2023
The economic landscape of 2022 has been significantly impacted by key factors that are expected to continue shaping the global economy in 2023. More than a year has elapsed since the escalation of the Russia-Ukraine crisis and the emergence of highly contagious COVID-19 variants. However, the reverberations of these events are still being felt as economies worldwide continue to absorb the resulting shocks and adjust to the new normal.
In the current year, the list of the most costly cities for international assignees to reside in reveals a noteworthy shift. Unlike the previous year, where four Asian cities featured in the top 10, this year only two cities from the continent made the cut. However, it is worth noting that these two Asian cities claim the highest positions on the ranking, with Hong Kong securing the first spot and Singapore following closely at second place. On the other end of the spectrum, the two least expensive cities globally are also located in Asia, namely Karachi at position 226 and Islamabad at position 227.
Within the global top ten, five European cities have secured their positions, with an impressive four of them located in Switzerland. The remaining European city on the list is Copenhagen. Joining the ranks of the most expensive cities in the region are London, Vienna, Amsterdam, Prague (which has climbed 27 spots in the global ranking since the previous year), and Helsinki.