The Economist Intelligence Unit (EIU) has named Karachi as 6th cheapest city of the world, on Wednesday.
The Worldwide Cost of Living 2019 report of the Economist Intelligence Unit EIU has ranked 133 countries according to the prices of consumer goods and services.
Syria’s capital Damascus has topped the list of the cheapest countries of the world.
EIU ranked, Paris, Singapore, New York, Los Angeles and Hong Kong are the world’s most expensive cities for travelers to visit and expatriates to live in, according to a new survey of more than 100 cities around the world.
EIU report said, it costs a lot more to buy a loaf of bread in Paris than in many other cities, with the same item setting back a consumer $5.66 (D20) per kilo, compared to just $1.46 in Karachi, one of the cheapest cities to live in.
For men’s two-piece business suit, the average buyer can expect to spend a whopping $2,000.65 (Dh7,300), which is way above anyone would pay at a tailoring shop or boutique in Chennai and Karachi, at just $173.91 and $515.51, respectively.
The report also noted that cities in Asia tend to be the most expensive places for general grocery shopping, while those in Europe tend to have the highest costs in the household, personal care, recreation and entertainment categories – with Zurich and Geneva the most expensive in these categories.