What are the least expensive cities in the world? Costs of living are slowly but steadily increasing worldwide, but there are still major differences from one corner of the world to the other. Previously we have covered a list of the Most Expensive Countries in the World. Even though cost of living is supposed to reflect the local purchasing power, it is undeniable that some cities are still considerably more affordable than others.
Following, we would like to present you with a list we have compiled of the top 5 least expensive cities in the world, based on the latest Worldwide Cost of Living Index released by the Economist. During their survey, experts at the Economist evaluated 131 cities across the globe, according to a series of price indicators, from cost of groceries and real estate to cinema tickets and a cup of coffee. This list is especially important for some senior citizens who haven’t saved enough money for their retirement and who are still healthy. By temporarily moving to one of these least expensive cities in the world they can not only save a lot of money but also improve the quality of their living. One can hire a cook or a maid for $30-40 per month in India. How many other retirees have access to these comforts?
Anyway, you probably have an idea which big cities will show up in our list so let’s get to it. Here are the most affordable places in the world:
No. 5: Kathmandu, Nepal
Monthly rent for an 85 square meter apartment in the center of Kathmandu averages around $300. Utilities, including heating, gas, and electricity bills, for 2 persons would add an additional $30 per month. Looking to eat out? A dinner for two in a local pub shouldn’t cost more than $11.
No. 4: Damascus, Syria
One liter or 1 quarter of a gallon of gas in Damascus is a mere $0.33 cents, one of the cheapest prices in the world. Other prices in Damascus also tend to be on the lower side. For example, one cinema ticket is around $2 while dinner for two in a local pub shouldn’t set you back more than $12. We should note that Damascus isn’t a safe place at the moment because of the civil war.
No. 3: New Delhi, India
A daily menu could set back approximately $6 in New Delhi, if you choose to eat in the business district that is. However, a combo meal at a fast food restaurant is half that. Monthly rents are a bit pricier than in the rest of India, but still well below other major cities in the world – a little over $500 for an 85 square meters apartment in the city center.
No. 2: Karachi, Pakistan
One month’s rent for an 85 square meter apartment in Karachi, Pakistan can set you back $450. And that’s in the more expensive area of the city. If you’re looking to buy a car, Karachi might be a great choice, as a new Volkswagen Golf is a little over $10,000, nearly 7 times less than what you would pay in Singapore, the most expensive city in the world.
Least Expensive City In the World: Mumbai, India
Mumbai might be India’s burgeoning metropolis, but when it comes to cost of living it is far behind other major capitals in the world. Not that this is a bad thing. For example, one kilogram of bread in Mumbai can be bought with a little under $1, while in Singapore, which emerged as 2014’s most expensive city in the world, one would pay $3.36. One liter of standard gas is $1.21 in Mumbai, less than half one would pay in other metropolises around the globe.