Locations in the Middle East, Africa and Asia ranked as the cheapest cities in the Economist Intelligence Unit's (EIU) latest World Cost of Living index. The city at the bottom of the heap, by far the cheapest, has seen its country's economy ravaged by war. It ranked lowest in seven of 10 pricing categories and was among the lowest in the other three. The city just above it faces severe political and economic challenges. It is particularly cheap for food, clothing and transport. The EIU bases its index, published in June and December, on semiannual surveys that compare more than 400 individual prices across some 200 products and services in 173 cities. The prices are then compiled into an index, benchmarked against prices in New York City, which receives a score of 100. EIU researchers collected data for the latest survey between Aug. 16 and Sept. 12. The above slideshow highlights the most affordable big cities worldwide, according to The Economist Intelligence Unit. Related: |
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Michael S. Fischer
Michael S. Fischer is a longtime contributing writer for ThinkAdvisor. He previously reported on trade and intellectual property topics for the Economist Intelligence Unit and covered the hedge fund industry for MARHedge and Reuters News Service.
