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Thursday
April 2018
9:19 PM IST
News Headlines
Nawaz Sharif, daughter leave for London        Former US first lady Barbara Bush dead at 92        Manmohan Singh on Kathua, Unnao rape cases: ‘PM Narendra Modi should follow own advice to me, speak more often’        Kathua rape ‘barbaric’, says President Kovind        KKR breach Rajasthan fortress at Jaipur, beat RR by 7 wickets        Virat Kohli downbeat despite smashing IPL run record        BJP ministers in J&K government asked to resign, to be replaced with new faces        Banks are unable to meet the demand for cash, says ATM industry        India, Sweden to enhance cooperation in defence, cyber security        Castro set to step aside as Cuban president, his reforms incomplete        Mumbai outplay Bangalore in IPL tie        Kolkata Police summons cricketer Mohammed Shami in domestic abuse case        10-man Bengaluru FC thrash Mohun Bagan to set up Super Cup final with East Bengal        Countrywide protests demanding justice in Kathua and Unnao rape cases        Former FBI director James Comey makes shocking claims about Trump        Prince Harry, Meghan Markle to work as Commonwealth youth ambassadors        Manchester City crowned Premier League champions as?Manchester United drop points        IPL-2018: KKR canter to 71-run win over Delhi        Watch Video: Mumbai Indians vs Delhi Daredevils / Pre-match analysis        Putin: attack on Syria act of aggression        
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Business News
Delhi, Bangalore, Chennai among cheapest cities globally: EIU
 
(New Delhi, Mar 15, 2018): Three Indian cities -- New Delhi, Bangalore and Chennai -- are among the cheapest cities in the world, according to an Economist Intelligence Unit (EIU) survey, that named Singapore as the most expensive city.

As per the Worldwide Cost of Living 2018 survey, South Asian cities, particularly those in India and Pakistan offers the best value for money. Bangalore, Chennai, Karachi and New Delhi featured among the 10 cheapest locations surveyed.

"India is tipped for rapid economic expansion, but in per-head terms, wage and spending growth will remain low. Income inequality means that low wages are the norm, limiting household spending and creating many tiers of pricing as well as strong competition from a range of retail sources," the report noted.

Moreover, cheap and plentiful supply of goods into cities from rural producers with short supply chains as well as government subsidies on some products, has kept prices down, especially by Western standards, the report noted.

Syria's capital, Damascus is the cheapest city in the world. Joining Damascus at the bottom is Venezuela's capital, Caracas and Kazakhstan's business centre, Almaty, in the second and third position respectively.

Others in the 10 cheapest cities list include Lagos at the 4th place, Bangalore (5th), Karachi (6th), Algiers (7th), Chennai (8th), Bucharest (9th) and New Delhi (10th).

"Although the Indian subcontinent remains structurally cheap, instability is becoming an increasingly prominent factor in lowering the relative cost of living of a location. This means that there is a considerable element of risk in some of the world's cheapest cities," it added.

Singapore retained its title as the world's most expensive city for the fifth consecutive year. Singapore was ranked ahead of Paris placed second on the list, Zurich (3rd) and Hong Kong (4th).

As per the report, Oslo is the 5th most expensive city in the world, followed by Geneva (6th), Seoul (7th), Copenhagen (8th), Tel Aviv (9th) and Sydney (10th).

The Worldwide Cost of Living is a biannual Economist Intelligence Unit survey that compares more than 400 individual prices across 160 products and services. These include food, drink, clothing, household supplies and personal care items, home rents, transport, utility bills, private schools, domestic help and recreational costs.(PTI)


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KERALA NEWS
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INTERNATIONAL NEWS
Nawaz Sharif, daughter leave for London
 (Islamabad, Apr 18, 2018):Former Pakistan Prime Minister Nawaz Sharif and his daughter Maryam
Former US first lady Barbara Bush dead at 92
India, Sweden to enhance cooperation in defence, cyber security
Castro set to step aside as Cuban president, his reforms incomplete
NATIONAL NEWS
Manmohan Singh on Kathua, Unnao rape cases: ‘PM Narendra Modi should follow own advice to me, speak more often’
 (New Delhi, Apr 18, 2018):Hitting out at Prime Minister Narendra Modi for his long silence ov
Kathua rape ‘barbaric’, says President Kovind
BJP ministers in J&K government asked to resign, to be replaced with new faces
Pakistan violates ceasefire in J-K's Rajouri
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