Lahore: The Economist Intelligence Unit (EIU) recently ranked Karachi as the 6th most affordable city in the world to live in, according to a news source. It released this ranking in its report titled ‘Worldwide Cost of Living for 2019’.
EIU is a Britain-based firm which conducts activities such as forecasting, advisory, research and analysis across the world. It releases a ‘Worldwide Cost of Living’ report on an annual basis using a basket of 160 essential commodities to compare their prices and compile rankings. These commodities include costs such as food, clothing, rent, utility bills, clothing, personal care items, transport, education, and recreational costs.
This list is used to compile rankings for both the most expensive and the most affordable cities in the world. This report has been created with the goal to serve as a tool for human resources and finance managers to measure cost of living allowances and compile compensation packages for business travellers and expatriates accordingly.
In 2019, the top most affordable cities to live in were:
