The world’s cheapest cities to live in have been revealed by Mercer’s 27th annual Cost of Living Survey that analysed data from 209 cities across five continents to compile its latest research.
In the list of world’s cheapest cities in 2021, Pakistan’s federal capital, Islamabad, and largest metropolis, Karachi, have been ranked.
Mercer, an American asset management firm, analyzed data from 209 cities across five continents to compile the list of the most expensive and most affordable cities in the world. There, they declared the Karachi as the ninth cheapest city in the world, while Islamabad ranked the eleventh cheapest city in the 2021 rankings.
It analyzed the comparative cost of over 200 items, including accommodation, transportation, food, and household essentials, to rank each city.
According to the annual Cost of Living survey by global consultancy Mercer, Hong Kong slipped from top position last year while Beirut jumped 42 places into third place as a result of “a severe and extensive economic depression due to the escalation of several crises – the country’s largest financial crisis, Covid-19 and the Port of Beirut explosion in 2020”, said Mercer.
“Cost of living has always been a factor for international mobility planning but the pandemic has added a whole new layer of complexity, as well as long-term implications related to the health and safety of employees, remote working and flexibility policies, among other considerations,” said Ilya Bonic, career president and head of Mercer strategy.
More than half of this year’s 10 most expensive cities are in Asia. Tokyo and Zurich each dropped one spot to fourth and fifth, respectively, while Shanghai was ranked sixth, up one place from last year.
This year’s ranking shows how Covid-19 has shaken up the index as countries continue to struggle with the economic fallout from the pandemic.
Moreover, Dubai was ranked 42nd, down from 23rd place last year, while Abu Dhabi fell from 39th place to 56th during the reporting period.
Top 10 most cheapest cities in 2021
- Bishkek (Kyrgyzstan)
- Lusaka (Zambia)
- Tbilisi (Georgia)
- Tunis (Tunisia)
- Brasilia (Brazil)
- Windhoek (Namibia)
- Tashkent (Uzbekistan)
- Gaborone (Botswana)
- Karachi (Pakistan)
- Banjul (Gambia)
Top 10 most expensive cities in 2021
- Hong Kong