According to a recent survey conducted by a renowned global consultancy firm, Karachi and Islamabad have secured positions among the top ten cities in the world, being identified as the most affordable destinations for expatriates in 2023. The survey also revealed that Hong Kong and Singapore are among the most expensive cities, while Zurich holds its place among the top three costly cities worldwide.
The survey unveiled Hong Kong, Singapore, and Zurich as the three most expensive cities in the world for foreign workers in 2023. These cities boast high living costs and premium expenses that contribute to their ranking. Additionally, Switzerland has three other cities, namely Geneva, Basel, and Bern, featured in the top ten list of expensive cities.
On the other hand, the survey also highlighted the top ten cheapest cities globally. Islamabad, the capital of Pakistan, secured the first position, recognized as the most budget-friendly city for expatriates. Following closely, Karachi, a major metropolitan hub in Pakistan, claimed the second spot. Other cities listed among the most affordable include Havana, Bishkek, Dushanbe, Windhoek, Ankara, Durban, Tunis, and Tashkent.
The survey meticulously analyzed over 400 cities worldwide, comparing the prices of more than 200 goods and services. This comprehensive approach ensured a fair evaluation of each city’s cost of living and affordability for expatriates.
Interestingly, New York City in the United States ranked sixth among the most expensive cities globally, making it the costliest city in America. Tel Aviv, Copenhagen, and Nassau were also identified as expensive cities, emphasizing the varying cost of living around the world.
Implications for Expatriates:
The rankings of cities based on their affordability provide valuable insights for expatriates, assisting them in making informed decisions regarding their relocation. Individuals seeking affordable living options can consider Islamabad and Karachi, which offer a lower cost of living compared to other major cities.
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