Paris has come top of a ranking of the world's most expensive cities, alongside Hong Kong and Singapore. It's the first time three cities have shared the top spot in the 30-year history of the annual Economist Intelligence Unit survey. Paris had been among the top 10 most expensive cities since 2003 and was "extremely expensive" to live in WHILE Lagos in Nigeria is currently number 6 Cheapest cities in the world to live. Israel's second-most populous city, Tel Aviv, entered the Top 10 for the first time — the only Middle Eastern high-ranked representative in the survey. The survey compares the cost of 160 items, such as food, drink, transport, utility bills, and rent, in 133 cities. It then tracks whether prices have gone up or down by comparing them with the cost of living in New York, which is used as a benchmark.
The annual index was designed to help companies calculate cost-of-living expenses for expatriates and business travelers. Currency depreciation and high inflation saw several cities in emerging market economies fall sharply in the rankings
1. Singapore (Singapore)
1. Paris (France)
1. Hong Kong (China)
4. Zurich (Switzerland)
5. Geneva (Switzerland)
5. Osaka (Japan)
7. Seoul (South Korea)
7. Copenhagen (Denmark)
7. New York (US)
10. Tel Aviv (Israel)
10. Los Angeles (US)
The 10 cheapest cities in the world
1. Caracas (Venezuela)
2. Damascus (Syria)
3. Tashkent (Uzbekistan)
4. Almaty (Kazakhstan)
5. Bangalore (India)
6. Karachi (Pakistan)
6. Lagos (Nigeria)
7. Buenos Aires (Argentina)
7. Chennai (India)
8. New Delhi (India)
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View previous comments…Endy Edeson
mc wolex; it is not a mistake. It means the countries tie in the number. That is how it is listed in the official ranking
Endy Edeson
I beg to differ. The city of Zurich, a global center for banking and finance, lies at the north end of Lake Zurich in northern Switzerland. Titus Stanley
Oluwatoyin Obanla
😂😂😂😂😂😂😂😂😂😂😂😂😂😂😂cheap city cheap people. Our Lagos is cheap mehn!
Endy Edeson
Obanla; It is relatively cheap. For Nigerians , Lagos is an expensive city ☺
Robinson Emeke Ikebueze
No one should celebrate because someone somewhere outside Nigeria said that Lagos is one of the cheapest cities to live in.
The Oyibo people are simply telling us and one another that our currency, the naira, is very weak compared to the US dollar. They did those ratings based on the value of the US dollar compared to the values of the local currencies spent in the cities that were rated. The Oyibo people are simply telling one another, "guys, take a few dollars to Lagos and you will have whatever you want because the local currency spent in Lagos is very weak compared to the US dollar!"
The rating is a mockery on Lagos and by extension, on Nigeria. And it makes no sense to Nigerians who live in Lagos and other parts of Nigeria.
The Oyibo people are simply telling us and one another that our currency, the naira, is very weak compared to the US dollar. They did those ratings based on the value of the US dollar compared to the values of the local currencies spent in the cities that were rated. The Oyibo people are simply telling one another, "guys, take a few dollars to Lagos and you will have whatever you want because the local currency spent in Lagos is very weak compared to the US dollar!"
The rating is a mockery on Lagos and by extension, on Nigeria. And it makes no sense to Nigerians who live in Lagos and other parts of Nigeria.
