2020 Worldwide Cost of Living report ranks the most expensive and also the cheapest cities within the world. Data from 133 cities were accustomed to rank the cities within the world in terms of the value of living. South Asia hosts a group of cheapest cities within the world.
Karachi stood at 129th position amongst a total of 133 countries. Damascus, Tashkent, Buenos Aires, Caracas, Lusaka, Chennai, Bangalore, and New Delhi also are within the list of the World’s cheapest cities.
Other than one Pakistani city on the list, there are three Indian cities that dominate the most affordable cities ranking.
When we come to the ranking of the foremost expensive cities within the world, Singapore is stood at the top followed by Hong Kong, Osaka, New York, Paris, Zurich, Tel Aviv, LA, Tokyo, and Geneva.
A newcomer at the spot is Osaka that climbed up 4 places as compared to last year. Osaka is Japan’s financial hub and therefore the center for emerging startups.
It is pertinent to say here that the COVID-19 pandemic will cost the worldwide economy around $2 trillion in 2020. So even though governments want to spice up their economy, They need concerns regarding higher inflation rates spreading across the globe.
The report is predicated on a survey of over 400 prices across 160 products and services like food, clothing, utilities, recreational, and private care items within the cities. All cities are ranked on the idea of their cost-of-living. Last year, Karachi Ranked 127th on the board out of 133 countries.