Karachi among world’s least expensive cities in new report

Web Desk 09:30 PM | 2 Dec, 2022
Karachi among world’s least expensive cities in new report
Source: File Photo

Pakistan’s southern port city of Karachi has been ranked among the top 10 least expensive cities in the world, according to The Economist Intelligence Unit's (EIU) Worldwide Cost of Living 2022 report.

It has ranked Damascus (Syria) and Tripoli (Libya) as the cheapest cities while Karachi stood at the sixth place on the index.

Iran’s capital Tehran is the third least expensive city followed by Tunis and Taskent at fourth and fifth spots.

Kazakhstan’s Almaty and two Indian cities -- Ahmedabad and Chennai -- have been ranked seventh, eighth and ninth while Algiers is the tenth least expensive city in the world.


Damascus is the capital of war-ravaged Syria which is suffering from deteriorating economy.


Tripoli is the capital and largest city of Libya, with a population of about 1.1 million people. It has been ranked second in terms of living expenses.


Tehran is the capital of Iran, in the north of the country. According to 2016 estimate, his population is nearly nine million.


Tunis is the capital and largest city of Tunisia, a country in North Africa. Its population is less than one millions and has been ranked fifth cheapest city in the world.


Karachi is the most populous city in Pakistan and one of the most populous cities in the world, with a population of over 20 million. It has been ranked sixth least expensive city.

Meanwhile, New York tops the rankings for the first time, tying with frequent leader Singapore, which is back in pole position for the eighth time in ten years. Together the two have bumped Tel Aviv (Israel; top last year) down into third place, EIU said in a statement.

Hong Kong and Los Angeles has been ranked at fourth spot.

New York

New York is the most populous city in the United States with its population stands at 8.46 million. Constant increase in house rents, and living expenses has made it the most expensive city.


Singapore is a city-state with population of more than six million. It has the world's highest transport prices, owing to strict government controls on car numbers.

Tel Aviv

It is a city of Israel, which is not recognised by Pakistan due to Palestine issue. The appreciating Israeli currency new shekel against the U.S. dollar has made local costs more expensive.

Hong Kong

Hong Kong has been ranked fourth as the most expensive city to live in due to rising prices of various items.

EIU said that the cost living survey has seen prices shoot up by 8.1% year on year on average in 172 major cities worldwide.

The war in Ukraine and continuing supply-chain problems have contributed to price rises, affecting production and trade across the world.

Web Desk
Web Desk

Daily Pakistan Global Web Desk


KARACHI - Following are the foreign currency exchange rates for US Dollar, Saudi Riyal, UK Pound Sterling, U.A.E. Dirham, European Euro, and other foreign currencies in Pakistan open market on February 03, 2023 (Friday).

Source: Forex Association of Pakistan. (last update 09:00 AM)

Currency Symbol Buying Selling
US Dollar ‎USD 272.25 273.25
Euro EUR 297.32 297.65
UK Pound Sterling GBP 333.31 333.61
U.A.E Dirham AED 73.03 73.33
Saudi Riyal SAR 71.49 71.80
Australian Dollar AUD 188.9 191.3
Bahrain Dinar BHD 712.73 720.73
Canadian Dollar CAD 200.95 203.15
China Yuan CNY 39.67 40.07
Danish Krone DKK 39.11 39.51
Hong Kong Dollar HKD 34.19 34.54
Indian Rupee INR 3.28 3.39
Japanese Yen JPY 2.5 2.54
Kuwaiti Dinar KWD 877.76 886.76
Malaysian Ringgit MYR 62.83 63.43
New Zealand Dollar NZD 173.25 175.25
Norwegians Krone NOK 26.76 27.09
Omani Riyal OMR 696.08 704.08
Qatari Riyal ‎QAR 73.62 74.32
Singapore Dollar SGD 204 206
Swedish Korona SEK 25.61 25.91
Swiss Franc CHF 291.69 294.19
Thai Bhat THB 8.15 8.3

KARACHI – The price of a single tola of 24-karat gold in Pakistan is Rs 212,900 on Friday. The price of 10 grams of 24k gold was recorded at Rs182,530.

Likewise, 10 grams of 22k gold were being traded for Rs167,318 while a single tola of 22-karat gold was being sold at Rs 195,157.

Note: The gold rate in Pakistan is fluctuating according to the international market so the price is never been fixed. The below rates are provided by local gold markets and Sarafa Markets of different cities.

City Gold Silver
Lahore PKR 212,900 PKR 2,420
Karachi PKR 212,900 PKR 2,420
Islamabad PKR 212,900 PKR 2,420
Peshawar PKR 212,900 PKR 2,420
Quetta PKR 212,900 PKR 2,420
Sialkot PKR 212,900 PKR 2,420
Attock PKR 212,900 PKR 2,420
Gujranwala PKR 212,900 PKR 2,420
Jehlum PKR 212,900 PKR 2,420
Multan PKR 212,900 PKR 2,420
Bahawalpur PKR 212,900 PKR 2,420
Gujrat PKR 212,900 PKR 2,420
Nawabshah PKR 212,900 PKR 2,420
Chakwal PKR 212,900 PKR 2,420
Hyderabad PKR 212,900 PKR 2,420
Nowshehra PKR 212,900 PKR 2,420
Sargodha PKR 212,900 PKR 2,420
Faisalabad PKR 212,900 PKR 2,420
Mirpur PKR 212,900 PKR 2,420


Follow us on Facebook

Follow us on Twitter

Sign up for Newsletter