The Economist Intelligence Unit publishes the cost of living survey bi-annually (twice a year) which compares the cost of a basket of 150 products across 133 cities. These products include food, drink, clothing, household supplies and personal care items, home rents, transport, utility bills, private schools, domestic help and recreational costs. According to EIU list, four Indian cities have been ranked in the most affordable cities on Earth for 2017.
Singapore is the most expensive city to live in, and surprisingly most of the top expensive cities belong to Asia. Among the 10 most affordable cities on Earth, Bengaluru ranking at 3rd position, Chennai 6th, Mumbai 7th and New Delhi on 10th position are the four Indian cities. Almaty of Kazakhstan being the most affordable city on the phase of Earth.
This survey seems to be quite generalized though, because the surveyors surely don’t have the Indian bargaining skills or the list would be all about the Indian subcontinent. Jokes apart, the survey is conducted keeping in mind the Metro or Tier I size cities and the general retail price (and “not bargaining skills”, please!). And still we Indians grim about the price hikes, so here’s a reason to cheer, come on cheer up! Yippee!
So,interestingly South Asian countries seems to be the most value for money places for living. Another noteworthy change is that London has become the cheapest city among all the global centres including New York, Paris and Tokyo. The tumbling down of London’s economic status can be said to be one of the side effect of Brexit.