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10 of The Cheapest Cities In The World To Live

Interest August 10, 2017 By Vincent

Living cheap 'ain't easy (just ask any New Yorker) but there are some places in the world where that is harder than others and somewhere it is much, much easier. However, thanks to the Economist Intelligence Unit’s Worldwide Cost of Living Survey, which surveys over 150 different goods in 133 cities around the world, we now know which cities are the cheapest and which are the most expensive.

Here we look at the 10 cheapest major cities in the world.

10. New Delhi - India

The capital of India, New Delhi has an incredibly low cost of living despite being one of India's richest cities. A smart city with growing tech sectors and a formal use of English by most companies and Government offices, cost of living remains low due to the relative poverty of the nation as a whole with much of India being cheap to live.

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New Delhi is especially cheap regarding food but can be more costly than other cities concerning health care.

9. Bucharest - Romania

The cultural, financial and industrial center of Romania, Bucharest is the most prosperous city in the country with big convention facilities, educational institutes, cultural venues, traditional shopping arcades, and recreational areas.

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Undergoing a retail boom, many international supermarkets have moved in since the turn of the millennium and as such competition is fierce making food and other goods very cheap as well as a growing construction and housing sector also making accommodation relatively affordable.

8. Kiev - Ukraine

Ukraine's capital is a burgeoning tech hub in Europe with many startups and entrepreneurs flooding into the city in recent years and, despite political unrest elsewhere in the country, remains a pretty stable and economically strong city.

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With advanced and high-tech infrastructure,  Kiev is a middle-income city, with prices currently comparable to many mid-size American cities (i.e., considerably lower than Western Europe).

7. Mumbai - India

Another Indian city to make the list, Mumbai is India's largest city (by population) and is the financial and commercial capital of the country as it generates 6.16% of the total GDP. 

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With all this business and industry, many start-ups have moved in making Mumbai the third most expensive office market in the world, but food and transport remain comparatively cheap.

=5. Chennai - India

One of the biggest cultural, economic and educational centers in South India, it has a big mixture of traditional and modern values that makes it very attractive to expatriates and is nicknamed "The Detroit of India", with more than one-third of India's automobile industry being based in the city.

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Cheap medicine and housing make it an attractive prospect as well.

=5. Algiers - Algeria

The capital of Algeria is noted for its shining white buildings and is an important economic, commercial and financial center, with in particular a stock exchange with a capitalization of 60 million euros.

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It has the highest cost of living of any city in North Africa and yet remains high on this list due to the inexpensiveness of the continent as a whole and lack of other major cities in the region.

4. Karachi - Pakistan

Following a controversial crackdown operation against criminals initiated in 2013 by the Pakistan Rangers, crime rates have dramatically fallen in the city, triggering sharp increases in real-estate prices. In addition to increased land values, upmarket restaurants and cafés are described by Reuters as "overflowing."

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Despite this, other aspects remain very cheap including taxation which it mostly collects from the cities ports on imported goods.

3. Bangalore - India

India's vast size means that it has a great and varied makeup of people, cities, and economies all within its one country and so a third city to make the list should be no surprise.

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Ranked as third- to the fifth-most productive metro area of India, it is considered the Indian equivalent to Silicon Valley.

2. Lagos - Nigeria

The largest city in Africa, Lagos is a major financial center with one of the busiest ports in the continent.  In some parts of Lagos, residents have one of the highest standards of living in Nigeria and in Africa.At the same time, a sizable proportion of the residents lives in slums without access to piped water and sanitation.

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As such, prices of goods and services represent this gulf in living standards and make it a cheap city to live due to the relative poverty.

1. Almaty - Kazakhstan

Considered a global city, Almaty sits in the mountainous South of Kazakhstan. Almaty generates approximately 20 percent of Kazakhstan's GDP (or $36 billion in 2010) through professional services, media, and finance.

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With a growing economy and transport to both Europe and Asia, Almaty is trying to re-establish itself in a post-Soviet Union world.

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