Top Ten Most Cheapest Cities to Live in the World

If you come to know what your dollar can do in cheapest cities of the world, you may plan to live a luxurious life there with your handsome money. The Economist Intelligence Unit, analyses world economies, has published its Worldwide Cost of Living Index 2014 Report. This index is used for ranking top ten least expensive cities in the world. The index is based on the cost of living in New York City, which is fixed at a base of 100 and all other cities are ranked based on the prices of basic commodities such as food, drink, clothing, housing and transport. This index is an important tool to determine cost of living allowances for expatriate employees. According to their research, most Asian countries dominate as the cheapest cities where you can get good meal and beautiful dress by just spending one dollar. Interestingly, such countries are also home to some of the most expensive cities in the world. Majority of world’s cheapest places to live are widely known for high income inequality, large population and political instability.

World’s 10 least expensive cities to live in 2014

Considering the Cost of Living Index 2014 we found that most cheapest places of the world are metropolitan cities having large population and inequality of living standard. Based on Economists Intelligence unit report, list of top 10 countries having the cheapest cost of living in the world is as follows;

1. Mumbai

India’s city of dreams landed up at the bottom of the worldwide cost of living index 2014 report and ranked as world’s most affordable city. India’s most populated place is the hub of commercial and cultural activities has best value for money spent. All basic necessities of life are available at most affordable prices.

2. Karachi

The Largest and most populous metropolitan area had been ranked the 2nd cheapest city in the world for living. It has lowest inflation rate than rest of the country and single bread earner can easily meet the end needs of whole family. One can get a cup of tea in 15 cents and good quality meal in 40 cents that seems like a dream.

3. New Delhi

New Delhi, the Capital of India , got 43 score and ranked at 129 in the list of worldwide cost-of-living index . The largest and populous city is the 2nd wealthiest place of India and is listed in top 10 least expensive cities of the world.

4. Damascus

The historical city has jumped from 11th place to 4th place in the list of cheapest cities in the world. A negative impact on its currency due to current conflict within the country affected its ranking.

5. Kathmandu

The capital of Nepal, number one tourist destination of Asia, has been ranked fifth on the list of least expensive cities to live in, with score of 44 in EIU’s WCOL report.

6. Algiers

The capital of Algeria landed at 6th position in the list of world’s cheapest cities by scoring 53. It has lowest cost of living than rest of country.

7. Bucharest

The hub of industrial centre has got 7th place in the list of top ten most cheapest cities in the world. The most prosperous area of Romania is most affordable place to visit.

8. Panama City

The Capital of panama is the hub for international banking and commerce. The political and administrative center is very popular in the world of tourism. It has scored 58 on the EIU’s Index, based on which list of cheapest cities in the world is prepared.

9. Jeddah

The second-largest city of Saudi Arabia,is the principal gateway to holiest place in Islam. It got 9th place in top ten list of most affordable cities in the world.

10. Riyadh

Riyadh is the capital and largest city of the Saudi Arabia. In the EIU’s survey, it scored 57 and ranked as 10th cheapest city to live in.
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