War-torn Damascus in Syria, picturesque Caracas, the capital of Venezuela, Almaty, former capital of Kazakhstan, and Nigerian metropolis Lagos are the only cities that are cheaper than Bengaluru, according to the Economist Intelligence Unit’s Worldwide Cost of Living Survey 2018. Bengaluru holds the 129th spot in a list of 133 countries, ranked according to their cost of living. Singapore, the world’s most expensive city, leads the list, which was released earlier this month. The survey is based on a comparison of more than 400 individual prices across 150 products and services. Two other Indian cities — Chennai (126) and New Delhi (124) — are among the 10 cheapest, while Mumbai is not too far behind at 121.
While Damascus and Caracas are the cheapest because of the political scenario, cities in Asia, including Bengaluru, are structurally cheap, the report notes. Asia is home to some of the most expensive and cheapest cities, the survey found, with the continent continuing to provide the best value for money.
While noting that India is tipped for rapid economic expansion, the report, however, said in per head terms, wage and spending growth will remain low.
War-torn Damascus in Syria, picturesque Caracas, the capital of Venezuela, Almaty, former capital of Kazakhstan, and Nigerian metropolis Lagos are the only cities that are cheaper than Bengaluru, according to the Economist Intelligence Unit’s Worldwide Cost of Living Survey 2018. Bengaluru holds the 129th spot in a list of 133 countries, ranked according to their cost of living. Singapore, the world’s most expensive city, leads the list, which was released earlier this month. The survey is based on a comparison of more than 400 individual prices across 150 products and services. Two other Indian cities — Chennai (126) and New Delhi (124) — are among the 10 cheapest, while Mumbai is not too far behind at 121.
While Damascus and Caracas are the cheapest because of the political scenario, cities in Asia, including Bengaluru, are structurally cheap, the report notes. Asia is home to some of the most expensive and cheapest cities, the survey found, with the continent continuing to provide the best value for money.
While noting that India is tipped for rapid economic expansion, the report, however, said in per head terms, wage and spending growth will remain low.
