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The Economist Intelligence Unit (EIU) has released the results of its Worldwide Cost of Living 2018 survey. It gives its annual ratings on cities based on the prices of over 150 items like bread, wine, cheese and petrol in 133 cities around the world. The list is designed to help the hiring teams of companies to calculate fair salaries while relocating their employees overseas.
Three Indian cities made it among the cheapest cities in the world while Singapore was listed as the most expensive city to live in for the fifth consecutive year.
Bengaluru, Chennai and New Delhi
In the list of the top ten cheapest countries in the world, Bengaluru is the 5th cheapest while Chennai and New Delhi are the 8th and 10th cheapest respectively.
The top ten cheapest countries are:
| Rank | City | Country |
|---|---|---|
| 133 | Damascus | Syria |
| 132 | Caracus | Venezuela |
| 131 | Almathy | Kazakhstan |
| 130 | Lagos | Nigeria |
| 129 | Bengaluru | India |
| 128 | Karachi | Pakistan |
| 127 | Algiers | Algeria |
| 126 | Chennai | India |
| 125 | Bucharest | Romania |
| 124 | New Delhi | India |
The most expensive countries in the world
| Rank | City | Country |
|---|---|---|
| 1 | Singapore | Singapore |
| 2 | Paris | France |
| 3 | Zurich | Switzerland |
| 4 | Hong Kong | Hong Kong |
| 5 | Oslo | Norway |
| 6 | Geneva | Switzerland |
| 7 | Seoul | South Korea |
| 8 | Copenhagen | Denmark |
| 9 | Tel Aviv | Israel |
| 10 | Sydney | Australia |
American cities New York and Los Angeles made it to the 13th and 14th position respectively.
Asia has the most expensive as well as the cheapest cities in the world
"Asia is home to some of the world's most expensive cities-but to many of the world's cheapest cities too. Within Asia, the best value for money has traditionally been offered by South Asian cities, particularly those in India and Pakistan," said the report.
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