Karachi 6th cheapest city worldwide

Karachi has been named as one of the cheapest cities in the world by the Economist Intelligence Unit (EIU).
The Worldwide Cost of Living report released earlier this week ranked Karachi as the sixth cheapest city in the world of a total 133 cities. The EIU’s annual ranking compares the prices of over 150 items in 133 cities around the world. Bangalore, Chennai and New Delhi are all featured among the top 10 cheapest locations this year. They were joined by Damascus, Caracus, Almaty, Lagos, Algiers and Bucharest. However, the report noted that although the region in which Pakistan lies 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 con-siderable element of risk in some of the world’s cheapest cities. Kara-chi, Algiers, Almaty and Lagos have faced well-documented eco-nomic, political, security and infrastructural challenges, and there is some correlation between The Economist Intelligence Unit’s cost of living ranking and its sister ranking, the liveability survey, the report stated. Put simply cheaper cities also tend to be less livable, it added.

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