Mumbai worlds cheapest city to live in: Survey

Written by Press Trust of India | London | Updated: Mar 5 2014, 10:45am hrs
In a finding that may baffle many Indians, Mumbai has emerged as the world's cheapest city to live in, with New Delhi at third place.

According to the Economist Intelligence Unit's (EIU) 2014 Worldwide Cost of Living survey released here, Singapore is on the other end of the spectrum as the world's most expensive city.

"...Asian cities continue to make up many of the world's cheapest, especially in the Indian subcontinent," said Jon Copestake, editor of the

EIU report.

The reason for Indian cities scoring high on the lower end is attributed to inequality, which keeps wages and prices low while spending is also stifled by government subsidies.

Karachi in Pakistan is ranked as the second least costly city, with Damascus (Syria) and Kathmandu (Nepal) completing the five least expensive places to live in around the world.