NEW DELHI, BANGLORE AND CHENNAI STANDS AMONG THE CHEAPEST CITIES IN THE WORLD

According to an Economist Intelligence Unit (EIU) survey, Three cities namely New Delhi, Bangalore and Chennai are among the cheapest cities in the world. As per the Worldwide Cost of Living 2018 survey, South Asian cities, particularly those in India and Pakistan offers the best value for money. Bangalore, Chennai, Karachi and New Delhi featured among the 10 cheapest locations surveyed. According to a report noted “India is tipped for rapid economic expansion, but in per-head terms, wage and spending growth will remain low. Income inequality means that low wages are the norm, limiting household spending and creating many tiers of pricing as well as strong competition from a range of retail sources.”

The ten cities considered the cheapest by the EIU survey are :

1. Damascus – Syria.
2. Caracus – Venezuela.
3. Almaty – Kazakhistan.
4. Lagos - Nigeria
5. Banglore – India.
6. Karachi - Pakistan
7. Algiers - Algeria
8. Chennai - India
9. Bucharest - Romania
10. New Delhi – India.

“Although the Indian subcontinent remains structurally cheap, instability is becoming an increasingly prominent factor in lowering the relative cost of living of a location. This means that there is a considerable element of risk in some of the world’s cheapest cities,” it added.