World's Least and Most Expensive Cities for Expats 2014
Karachi: Karachi is Pakistan’s financial and industrial capital for housing all the big corporations in automobile, shipping, textiles and publishing industries. It’s world’s third most populous city.
The EIU report declares it the second least expensive city in the world after Mumbai. At the same time the EIU report waves a warning sign, “Outside India bargain hunters may be put off by the security risk in many of the countries in which the world’s cheapest cities are found. Pakistan, Nepal, Syria and Algeria all feature in the bottom ten, but have had well documented security issues or domestic unrest.”
New Delhi: The capital city of India is the second wealthiest city of the country after Mumbai. However, according to the EIU report, it is the third least expensive city in the world. “Although India has been tipped for future growth, much of this is driven by its large population and the untapped potential within the economy. Income inequality means that low wages proliferate, driving down household spending and creating many tiers of pricing that keep per capita spending low”, says the EIU report as the reason for presence of Indian cities in the ‘cheapest’ list. Like Mumbai, cheap wages, government subsidies and easy availability of goods are cited as reason for Delhi’s ‘inexpensiveness’.
Read More:
Blackmoney: India Posts IRS officers in 7 Nations Except Cyprus
