The Economist Intelligence Unit(EIU) recently came out with the Worldwide Cost of Living Survey 2019 Report.
The report provides a list of the most expensive cities in the world and the cheapest places to live in.The Survey compares more than 400 individual prices across 160 products and services in cities around the world.
According to the list,Paris,Singapore and Hong Kong share first place and are the most expensive cities to live in the world.
Caracas in Venezuela was ranked the cheapest city in the world.This position was previously occupied by Damascus in Syria.The survey attributed to the deteriorating economic conditions in Venezuela and hyperinflation as the root cause of its position down the list.
Meanwhile in India,Delhi,Chennai and Bengaluru are also among the cheapest places to live in.The survey further said that most South Asian cities were among the 30 cheapest in the world.
The Economist Intelligence Unit (EIU) is a British business within the Economist Group providing forecasting and advisory services through research and analysis,such as monthly country reports,five-year country economic forecasts, country risk service reports, and industry reports.