Lusaka, Zambian capital has been ranked as the cheapest cities in the world to live in by the Economist Intelligence Unit (EIU) while Singapore was named the world’s most expensive city.
Lusaka was followed on the EIU list by Bangalore and Mumbai in India.
Singapore was ranked ahead of Zurich, Hong Kong, Geneva and Paris as the most expensive.
London was sixth and New York seventh on the list which compares the cost of a basket of goods across 133 cities.
The EIU said India and Pakistan accounted for five of the 10 least expensive cities in the world.
The EIU charts the expense of cities by comparing them to the cost of living in New York.
Researchers said they saw considerable movement in the rankings as cities coped with economic factors ranging from the strength of the US dollar and currency devaluations to falling oil and commodity prices and geopolitical uncertainty.
“In nearly 17 years of working on this survey I can’t recall a year as volatile as 2015,” said Jon Copestake, an editor of the survey,
“Falling commodity prices have created deflationary pressures in some countries, but in others currency weakness caused by these falls has led to spiralling inflation.”
(c)travelandtourworld.com
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