Saturday, July 13, 2024

Karachi Ranked Sixth Most Affordable City of the World: Report

Karachi has been ranked as the sixth most affordable city in the world in ‘Worldwide Cost of Living (WCOL) index 2022.

The list of the most expensive and cheapest cities in 2022 has been released by the Economist Intelligence Unit (EIU).

The WCOL has ranked Damascus (Syria) as the most affordable city of the world followed by Tripoli (Libya), Tehran (Iran), Tunis (Tunisia), Tashkent (Uzbekistan), and Karachi (Pakistan).

According to the list, the cost of living has increased by 8.1% due to the impact of Russia’s invasion of Ukraine and the coronavirus outbreak.

The price of gasoline, which has increased by an average of 22% year over year, has seen the fastest rise in the WCOL index.

According to the report, the impact of inflation on Asian cities has not been the same as seen in other regions.

The cost of living in Asian cities has increased by an average of 4.5 percent, the report added.

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