Karachi named sixth cheapest city of world

DUBAI: The Economist Intelligence Unit (EIU) has named Karachi as 6th cheapest city of the world, ARY News reported on Wednesday.

The Worldwide Cost of Living 2019 report of the EIU has ranked 133 countries according to the prices of consumer goods and services.

Syria’s capital Damascus has topped the list of the cheapest countries of the world.

Meanwhile, Paris, Singapore, New York, Los Angeles and Hong Kong are the world’s most expensive cities for travellers to visit and expatriates to live in, according to a new survey of more than 100 cities around the world.

According to the report, it costs a lot more to buy a loaf of bread in Paris than in many other cities, with the same item setting back a consumer $5.66 (D20) per kilo, compared to just $1.46 in Karachi, one of the cheapest cities to live in.

For men’s two piece business suit, the average buyer can expect to spend a whopping $2,000.65 (Dh7,300), which is way above anyone would pay at a tailoring shop or boutique in Chennai and Karachi, at just $173.91 and $515.51, respectively.

The report also noted that cities in Asia tend to be the most expensive places for general grocery shopping, while those in Europe tend to have the highest costs in the household, personal care, recreation and entertainment categories – with Zurich and Geneva the most expensive in these categories.