A lot depends on where one lives, the city of one’s choice to dwell. It not only decides what comes into the pocket but what remains in it after all the spending and shopping is done. The cities offer many opportunities to earn and spend which draws the many millions on its clarion call. Here are the top ten cities in the world rated as the cheapest cities, with low cost of living as per The Economist Intelligence Unit 2013 report. Two of India’s mega cities are in the top three spots.
TehranRank 122
In the World Cost of Living Survey 2013 conducted by the Economist Intelligence Unit (EIU) 131 cities were surveyed, in which Tehran, the capital of Iran is rated as the tenth cheapest city. The report said, “While Asia is home to over half of the world’s 20 most expensive cities, the region is also home to six of the ten cheapest cities.” Tehran is one of the Asian cities on the list.
JeddahRank 123
Situated on the coast of the Red Sea, Jeddah is the major urban center of Saudi Arabia. Jeddah is the ninth cheapest city among the 131 cities surveyed in 2013.
Panama CityRank 124
The capital of Panama, Panama City is on the eighth spot. It is also the largest city of Panama. Panama City is one of the cities in the survey which offer a low cost of living in a more stable environment. It is the hub for finance and economy in Panama. The economy is majorly service based and counts heavily on commerce, banking and tourism. It also depends heavily on the trade and shipping activities connected with the Panama Canal and port facilities for its economy.
ColomboRank 125
Another one of the Asian cities, Colombo is the capital of Sri Lanka and also the industrial, commercial, and cultural center for the country. Colombo abodes large number of Sri Lanka’s corporate head offices. Some of the industries situated in the city include textiles, cement, chemicals, jewellery, leather goods and furniture. The World Trade Centre is located in the centre of the city. The report said, “One of the features of the cost-of-living ranking over the last few years has been the rise of many Asian cities offsetting traditionally more costly European locations.”
BucharestRank: 126
Ranked at sixth place, Bucharest is one of the cheapest cities to dwell, also one with stable environment. The Capital of Romania, Bucharest, is the center for cultural, financial, and industrial activities in the country. Being one of the European cities it is the first on the cheapest city to live list. Bucharest has fallen 12 spots in this year’s survey. However, economically it is the most prosperous city in Romania. It is the main hub for industrial centers and transportation in Eastern Europe.
AlgiersRank 126
Algiers’s rank ties with Bucharest. However, it is placed at the fifth spot on the list. It is the only African city among the 10 cities with low cost of living. The survey was based on the costs of over 160 items that ranged from, food, drink, clothing, household supplies, home rents, transport, utility bills, private schools, domestic help and recreational costs. It showed that the rate of inflation has prompted the increase in living cost over the years.
KathmanduRank 128
Kathmandu, the capital of Nepal, is on the fourth spot. The report said, “Five of the bottom ten cities hail from the Indian subcontinent.” Nepal is situated in the borders of North Indian landscape, surrounded by many of the Indian states and the culture of Nepal is more of less similar to Indian culture. Kathmandu engages in an ancient trade that flourished along the Silk Route which linked India and Tibet, for its economy.
New DelhiRank 129
India’s capital, New Delhi ranks as the third cheapest city as per the survey. The report said, “Although India is something of a tiger economy tipped for future growth, much of this is driven by its large population and the untapped potential within the economy.” The city is considered as India’s microcosm and is world’s leading cities with high potential in arts, education, entertainment, commerce, fashion, media, healthcare, research and development, tourism and transport sectors.
MumbaiRank 130
Mumbai is the financial and commercial capital of India. The city being very cost efficient has kept the second spot for another year in a row on the survey index. The report said, “Mumbai and Karachi are the joint cheapest locations in the survey, with indices of just 44 when compared with New York.” Mumbai was ranked as an ‘Alpha world city’ by the Globalozation and World Cities Study Group (GaWC) in 2008. It was also ranked high among the cities in India for fastest business startups in 2009.
KarachiRank 130
Karachi ties with Mumbai at the 130thrank. Karachi has been place at the first spot on the list in the survey. It is the main sea port and the financial centre for Pakistan. It is also the largest city in Pakistan and the capital of the Sindh province. The report said, “Income inequality means that household spending levels are low on a per capita basis, which has kept prices down, especially by Western standards,” which completely depends on the standards and preference of living in any given city.
The 5 most expensive cities are Tokyo, Osaka in Japan, Sydney, Oslo in Norway and Melbourne. The cities that are expensive do seem challenging to make it with the high price indices, but it has its own perks with better quality and standards of living. Ironically the cities that have been surveyed as the cheapest cities do have a high percentage of people complaining and expecting for the high prices on commodities to go down. The best judge would be the people who inhabit a particular city, and put themselves through each day and enjoy while at it.
