India has four of the cheapest cities in the world

Marcus Newton
March 22, 2017

NY was the sole North American representative among the ten most expensive.

SINGAPORE retains its title as the world's most expensive city for a fourth consecutive year, according to the latest cost-of-living survey from the Economist Intelligence Unit, our sister company.

The biannual survey compared the prices of over 160 items in 140 cities around the world with the collated prices converted into the U.S. dollar using a prevailing exchange rate.

At the bottom of the list, Almaty in Kazakhstan, ranked at 133, was the cheapest city to live in.

Singapore and Hong Kong are among the world's most expensive cities, along with a slew of other cities in Asian countries.

Other names in the list of 10 most expensive cities include Tokyo (Japan, 4th), Seoul (South Korea, 6th), Geneva (Switzerland, 7th), Paris (France, 8th), NY (9th) and Copenhagen (Denmark, 10th).

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NY was the only North American city to make it into the world's most expensive cities coming in ninth whilst Los Angeles ranked in 11th, down from 8th a year ago.

"The renminbi has been devalued two or three times. and that's made Chinese cities relatively cheaper and their spending power much lower", Copestake said. The Big Apple, which rose to seventh place past year, has fallen to ninth owing to a slight weakening of the USA dollar, which has also affected the position of other United States cities. Although the relative cost of living has fallen slightly in the Swiss cities of Zurich and Geneva, both remain cemented among the ten most expensive, in third place and joint seventh place respectively.

United Kingdom cities are the cheapest they have been for 20 years to foreign visitors after a sharp decline in the value of the pound following the Brexit referendum, according to a global survey. San Francisco and Lexington, Kentucky were the only American cities out of the 16 surveyed to move up the rankings.

Yet, Almaty's citizens may not feel that the city is getting cheaper.

Expensive goods and services, as well as high real estate prices, were contributing factors to falling tourist numbers, the survey found. Mumbai and Chennai were jointly ranked at 127 and Bengaluru at 131.

With Japanese cities returning to the fold, Asia now accounts for half of the ten most expensive cities ranked.

Other reports by MaliBehiribAe

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