Tuesday, July 16, 2024

Islamabad, Karachi Named World’s Cheapest Cities

According to a survey conducted by Mercer, Islamabad (the capital city of Pakistan) and Karachi (a port city in the south) have been ranked as the least expensive cities in the world. The survey assessed the cost of living in different cities worldwide.

The survey also revealed that Hong Kong topped the list of the most expensive cities, followed by Singapore and Zurich. The least expensive cities included Havana and the two cities in Pakistan, Karachi and Islamabad.

The survey noted that the global economy in 2022 and 2023 has been influenced by factors such as the Russia-Ukraine crisis and the ongoing impact of COVID-19. These events have had a lasting effect on many economies.

In terms of international assignees, only two out of the top ten most expensive cities are located in Asia, compared to four in the previous year. Hong Kong and Singapore ranked at the top, while the two least expensive cities were Karachi and Islamabad.

The top ten most expensive cities globally included five European cities, with four of them being in Switzerland. Copenhagen was the fifth city on the list. Other expensive cities in the region included London, Vienna, Amsterdam, Prague (which moved up 27 spots in the global ranking since last year), and Helsinki.

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