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Wednesday 24 July, 2024
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Islamabad and Karachi Ranked as Cheapest Cities in the World for Foreigners

BY Shahzad Saeed Jun 07, 2023. 10:13 pm UPDATED: Jun 07, 2023. 10:13 pm

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The most affordable cities for expatriates in 2023, according to Mercer, a US-based asset management firm, are Islamabad and Karachi. Karachi came in second and Islamabad came in first.

A combination of goods and services that are frequently used by expatriates form the basis of the cost of living index. The index takes into account costs for housing, travel, meals, clothing, entertainment, and other expenses.

The top 10 least expensive cities for expatriates in 2023 are listed below, according to Mercer’s ranking:

RankingCityCountry
1.IslamabadPakistan
2.KarachiPakistan
3.HavanaCuba
4.BishkekKyrgyzstan
5.DushanbeTajikistan
6.WindhoekNamibia
7.AnkaraTurkey
8.DurbanSouth Africa
9.TunisTunisia
10.TashkentUzbekistan

 

Consequently, the following ten cities will be the most pricey for expatriates in 2023:

RankingCityCountry
1.Hong KongHong Kong (China)
2.SingaporeSingapore
3.ZurichSwitzerland
4.GenevaSwitzerland
5.BaselSwitzerland
6.New York CityUnited States of America (USA)
7.BernSwitzerland
8.Tel AvivIsrael
9.CopenhagenDenmark
10.NassauBahamas

To assist multinational corporations and governments in determining the appropriate compensation for their employees working abroad, Mercer conducts cost of living data research twice a year. In order to determine the cost of living benefits for globally mobile employees, the survey examines more than 200 goods and services, as well as monetary fluctuations, inflation, and lodging costs.

Read more: Pakistan Economic Survey 2022-23 Will Launch Tomorrow – Ishaq Dar will Preside Over the Event

 

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