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Karachi is the cheapest city in world (Pakistan Observer)

by August 15, 2015 Industry

Karachi, the commercial hub of Pakistan, has been declared as the cheapest city of the world according to a world-wide survey conducted by the Economist Intelligence Unit (EIU). The advantage of being the cheapest city around the world can be exploited for promoting tourism in Pakistan, as the affordable pricing is always considered as the biggest attraction for the tourists.

It is also important to note that while Karachi is the cheapest city in terms of cost of living, Islamabad is considered as the most beautiful capital out of ten beautiful capital cities in the world, EIU has released its latest Worldwide Cost of Living Survey that provides insights into which countries have the cheapest cost of living in the world. The survey is designed to help calculate costof-living allowances and build compensation packages for expatriates and business travelers.

On the other side of the picture among the 133 cities surveyed worldwide, Singapore took away the crown as the world’s most city costly of this year. This is the second consecutive year that Singapore has been named the most expensive place to live in. According to EIU’s analysis, Singapore, as well as Seoul in South Korea, is the most expensive place in the world to buy clothes, with the malls on its shopping district, Orchard Road, selling items with price tags that are over 50 per cent higher than New York. Singapore is also not the friendliest place for people who love to drive their own car.

According to survey 10 Most expensive cities in the world are including Singapore, Paris, Oslo, Zurich, Sydney, Melbourne, Geneva, Copenhagen, Hong Kong, and Seoul. While the 10 Cheapest cities in the world are including Karachi, Bangalore, Caracas, Mumbai, Chennai New Delhi, Tehran, Damascus, Kathmandu and Algiers.