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Mumbai is world’s seventh cheapest city

Asia remains an overall “bargain” and is home to five of the cheapest 10 cities in the world, according to a survey carried out by the Economist Intelligence Unit (EIU), business information wing of the Economist Group.

DNA Web Team

Updated : Nov 19, 2013, 11:17 PM IST

PUTRAJAYA: Asia remains an overall “bargain” and is home to five of the cheapest 10 cities in the world, according to a survey carried out by the Economist Intelligence Unit (EIU), business information wing of the Economist Group.

While New Delhi has been ranked 122nd, Mumbai is ranked 124th among over 130 most expensive destinations in the world for 2006.

Other Asian cities include Dhaka, ranked 121st; Karachi at 125th; and Manila at 126th. The cost of living in the three cities is below half of that of New York, the survey said.

As for the world’s most expensive city, Oslo topped the list, overtaking Tokyo. It was the other way round last year.

Kuala Lumpur has been ranked 97th in the survey, at par with Tianjin in China, but a notch below Riyadh in Saudi Arabia and Bratislava in Slovakia, both of which are placed 95th.

But Kuala Lumpur was costlier than Baku in Azerbaijan and Bangkok in Thailand, both of which took the 99th place.

Compared with other cities in Southeast Asia, Kuala Lumpur was much cheaper than Singapore, which ranked 15th in the survey.

The rankings were based on the calculation of cost of living index, which changed over time on exchange rate and price movements. Worldwide Cost of Living, the bi-annual EIU survey, compared prices of products in over 130 cities around the world.

-- Bernama

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