Economist Intelligence Unit’s survey stated that top Indian cities Mumbai and Delhi are in the bottom level of world’s most expensive cities. The most expensive cities of India thus have found place among cheapest cities of the world.
Economist Intelligence Unit has recently conducted a survey among top 131 cities of the world. The survey was centered on the average cost of living in these cities. The cost of living in these cities was decided on the prices of over 160 commodities and basic service-charges. The list included the transport-fares, expenses on food and clothing, besides many others. As per their survey Mumbai topped the list along with Karachi.
The financial capitals of India and Pakistan; Mumbai and Karachi, topped the list of cheapest cities of the world. Indian Capital city New Delhi stood third behind these two. While Mumbai shared the top spot with the Pakistan Capital, Indian capital stood only behind to them for some fraction of ratings.
Algerian Capital Algiers and the Nepalese Center Kathmandu are the other two cities which were included in the least five of world’s cheapest cities.
However speaking about the survey, EIU said that the survey was based on the average household spending on per capita basis. Comparatively it is very low in Asian countries. This is mainly because the survey calculated the average household spending in Western financial standards whose value is higher to value of many Asian currencies.
According to EIU’s latest Survey (2013), Tokyo is world’s most expensive city. Japanese city Osaka is the second- most-expensive city of the world while Sydney and Melbourne (two Australian cities) Oslo (the capital of Norway) are the other top cities included in the top five most-expensive cities of the world.
According to Jon Copestake, Economist Intelligence Unit’s editor, Australian cities topped the list mainly because of the inflation. Adding to it the currency- swings, which existed in the country, also had a toll on these cities, Mr. Copestake added.
