4 Indian Cities Among World's Cheapest Cities To Live In

Karachi— Pakistan

Why is it Cheap?

Global rank in terms of affordability: 132

Average price of 1 litre petrol: $1.12

Average price of 1 kg bread: $1.04

Pakistan's financial capital, Karachi has emerged as the world's cheapest cities to live in with a value for money. The cost of living in Karachi is apparently one-third of Singapore, which is the most expensive city in the world according to the index. However, the survey also notes that a city like Karachi faces economic, political and security challenges.

Caracas—Venezuela

Why is it Cheap?

Global rank: 130

Average price of 1 litre petrol: $0. 27

Average price of 1 kg bread: $3.36

Caracas descended from top ten to bottom five as the survey used an alternative exchange rate. Also the markets in the city have seen currency instability, with falling oil prices also adding a deflationary element to pricing. The EIU Survey states that, “in Venezuela the adoption of multiple exchange rates has made pricing Caracas almost impossible”.

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