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Delhi, Mumbai among Least Expensive Cities in the World
The ten most expensive cities were Zurich at position one, followed by Tokyo. Geneva and Osaka Kobe followed next. Oslo and Paris ranked fifth and sixth respectively. Sydney and Melbourne were on the seventh and eighth position respectively while Singapore was on the ninth. Frankfort took the tenth position.
The survey recorded that an index swing of 34 percentage points pushed the Swiss city up 4 places compared to last year to overtake Tokyo which remains in second place. Geneva, the other Swiss city surveyed with a 30 percentage point rise in the cost of living to move up six places into joint third alongside Osaka. Japan and Switzerland both have seen strong currency movements over the last few years which have made them relatively more expensive. Especially Switzerland in the last year has seen this change where investors looking for a haven currency outside the stressed Eurozone have invested heavily in the Swiss Franc, prompting an unprecedented move by the Swiss government to peg the Swiss Franc to the Euro to keep the currency competitive.
The ten least expensive cities consisted of Muscat, Dhaka, Algiers, Kathmandu, Panama City, Jeddah, New Delhi, Tehran, Mumbai and Karachi.
