Ahmedabad, in the Indian state of Gujarat, has been named one of the top ten cheapest cities to live in the world, according to a new survey conducted by the Economist Intelligence Unit (EIU). The city is ranked seventh, trailing only the Syrian capital of Damascus.
It is the only city in India on the list. Libya’s capital, Tripoli, came in second, followed by Uzbekistan’s Tashkent, Tunisia’s Tunis, and Kazakhstan’s Almaty in third, fourth, and fifth place, respectively.
List of 10 Cheapest Cities in The World:
In the table below, one can check the cheapest cities listed alongside the countries they are in. It has been found by EIU that the cost of living in these cities is the least compared to other cities of the world. Take a look:
Karachi came in sixth place, while Ahmedabad came in seventh. Algiers, Algeria, Buenos Aires, Argentina, and Lusaka, Zambia were ranked eighth, ninth, and tenth, respectively. Around a quarter of the new cities, which were not ranked last year, are now among the top 50 cheapest cities to live in, including Tunis, which is ranked fourth, and Ahmedabad, which is ranked seventh.
How is the Cost of Living Index Calculated?
Every year, the Economist Intelligence Unit, EIU, conducts a survey. It was held this year in September and October of 2021. This Worldwide Cost of Living index investigates the cost of living in 173 cities and compares it to “significant global events.”
European and developed Asian cities are the most expensive in the world, while North American and Chinese cities are moderately priced.
Which Indian City is the Cheapest to Live in?
According to a survey, Ahmedabad in Gujarat is the cheapest city in India to live in. This is the only city mentioned in this index report. Aside from this, no other city in India was ranked in either the Most Expensive or the Cheapest lists.
Pakistan’s capital, Karachi, was also ranked sixth on the list of the world’s cheapest countries.
However, no Indian cities were found on the list of most expensive cities for gasoline, which was topped by Hong Kong, which has a petrol price of around $2.5 (Rs 187), almost double that of India. The price of petrol in New Delhi is Rs 103, which is Rs 84 less than the price in Hong Kong.
The top five cities are Amsterdam, Netherlands, with $2.18 (Rs 163), Olso, Norway, with 2.06 (Rs 154), Tev Aviv, Israel, which is also the most expensive city with $2.0 (Rs 150), and Hamburg, Germany, with $1.99 (Rs 149).
According to the Economist Intelligence Unit, pandemic-induced lockdowns had a significant impact on the movement of city rankings. Tel Aviv, Israel’s capital, came in first on the list of most expensive cities to live in, followed by Paris, France’s capital, and Singapore.
EIU specialises in providing detailed insight and analysis into economic and political developments on a global and national scale, identifying opportunities, trends, and threats in an increasingly complex global environment.
According to Bloomberg, Upasana Dutt, the head of international cost of living at EIU, predicts that the cost of living in many cities will rise even more in the coming year as earnings in many areas rise.