According to a survey conducted by international firm Mercer, Pakistan’s capital city of Islamabad and the southern port city of Karachi have been ranked as the least expensive cities in the world.
Mercer’s Cost of Living City Ranking revealed that Hong Kong topped the list as the most expensive city, followed by Singapore and Zurich. On the other end of the spectrum, the least expensive locations included Havana, which dropped significantly in the rankings due to currency devaluations, as well as Karachi and Islamabad in Pakistan.
The survey highlighted that the world’s economy in 2022, marked by events such as the Russia-Ukraine crisis and the spread of COVID-19 variants, continues to impact global economies in 2023.
Interestingly, this year’s rankings showed a decrease in the number of expensive cities in Asia compared to the previous year. However, Hong Kong and Singapore still maintained their positions as the top two most expensive cities for international assignees. Islamabad and Karachi, on the other hand, were recognized as the two least expensive cities in the world.
The global top ten list included five European cities, with four of them located in Switzerland. Copenhagen also made it to the list. Other expensive cities in the region included London, Vienna, Amsterdam, Prague (which climbed 27 spots in the global rankings since last year), and Helsinki.
The Mercer survey provides valuable insights for individuals and businesses when considering the cost of living and global relocation. Islamabad and Karachi’s rankings as the least expensive cities in the world may attract attention from budget-conscious travelers and expatriates seeking affordable living options.
