Karachi among cheapest cities in the world: Survey

Pakistani city of Karachi, which is also the country’s financial centre has been ranked among the cheapest city in the world, landing up at the bottom of the index for the “2011 Cost of Living survey,” released on 12^th July by M/s Mercer, a London-based global consulting firm.

Karachi, a sprawling city on the Indian Ocean with a population of about 18 million people, reigns as Pakistan's economic center and primary seaport. The international business hub, which hosts domestic companies as well as multinationals such as IBM, Chevron, Unilever, GlaxoSmithKline, ICI, Abbott Laboratories, etc. also happens to have the world's lowest cost of living for expatriates, according to this new survey by Mercer.

For its 2011 cost of living report, Mercer surveyed 214 locations around the world in which multinational companies and international organizations have a presence or are looking to set up operations. The ranking was based on a basket of more than 200 goods, including housing, transportation, food, clothing, household goods, and entertainment.

According to Mercer, expatriates in Karachi pay an average $353 per month to rent a luxury, two-bedroom apartment, one of the lowest rates among surveyed cities. In the second- and third-cheapest cities—Managua, Nicaragua, and Islamabad, Pakistan—the average rent is $800.

Main source http://www.mercer.com
Photo caption: A beautiful view of Chorangi Flyover, Karachi