Karachi, a lively city in Pakistan, has been ranked as the fourth most affordable city globally, offering a budget-friendly lifestyle amidst its diverse cultural environment.
This ranking comes from a survey covering 173 cities, revealing economic challenges worldwide due to the Covid-19 pandemic, regional conflicts, and natural disasters.
The Economist Intelligence Unit’s report shows a 7.4% increase in the average cost of living this year, with grocery prices rising significantly. Singapore and Zurich top the list as the most expensive cities, while New York and Geneva follow closely.
In contrast, Karachi is recognized as the fourth cheapest city to live in, with Damascus remaining the least expensive globally. Other affordable cities include Tehran, Tripoli, and Tashkent.
Karachi’s affordability is influenced by factors such as favorable exchange rates, cost-effective housing, and accessible transportation. The report highlights that groceries, utilities, and clothing in Karachi are notably affordable, allowing residents to manage their budgets effectively.
