10 Cheapest Cities in the World

Panama City
Rank 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.

Colombo
Rank 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.”

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