Karachi placed fourth among world’s 10 cheapest cities
KARACHI: Karachi has been named among the world’s ten cheapest cities to live in, according to a survey conducted by the Economist Intelligence Unit (EIU).
The Worldwide Cost of Living 2017 survey puts Karachi the fourth cheapest city to live in.
Alamaty of Kazakhstan, tops the list of the cheapest cities in the world.
Measured against an index of 100, with New York City being the standard, Singapore is the most expensive city of the world for the fourth consecutive year. It is followed by Hong Kong, Zurich and Tokyo.
Among the cheapest cities, Lagos has been second and Bengaluru third in the Index.
The Worldwide Cost of Living survey takes into account factors such as costs of housing, food, recreation, public transport, schools and other daily facilities draw conclusions.
Conducted every two years by the Economist Intelligence Unit, it compares more than 400 individual prices across 160 products and services.
While South Asian cities are relatively cheaper than a lot of East Asian and Western counterparts, the level of law and order and infrastructure in the former is comparatively lower.