As the cost of living in Dhaka continues to soar, the thought of going abroad and settling down in a less expensive city may have come to your mind once or twice. Now leaving your homeland is undoubtedly a difficult decision, but there’s no harm in entertaining the idea a bit. But how do you determine a city’s affordability in comparison to others? Simple! You determine it by comparing a city’s Cost of Living (CoL) against a standard, which, as most organizations consider, is New York City. For example, New York’s CoL is 100, and if Dhaka’s CoL is 60, it means Dhaka is 40% less expensive than New York. So the question now is, which cities are more affordable than Dhaka? The answer to that question is right below in our list of most affordable cities in the world!
8. New Delhi – India (CoL 43)
India has had a few cities in the list of the most affordable cities in the world for a number of years now, and the most recent list isn’t any different either. The first entry from India is none-other than that of the capital city of New Delhi. While a country’s capital tends to be more expensive than many of its other cities, that’s not the case here. The living cost in New Delhi is about 57% less expensive than in New York. A meal at an inexpensive restaurant can cost less than $3.50 and a kilo of rice less than $1. The rent isn’t too extreme either. According to numbeo.com, the average rent for a three-bedroom apartment in the city center is about $565 on average.
7. Chennai – India (CoL 41)
Number 7 in the list of the most affordable cities in the world is also from India, but this one’s from the country’s southern region. Chennai is one of the biggest economic, cultural, and educational centers of the country. The city has also seen a growing number of IT firms and financial institutes. Yet, the city is quite affordable; 59% more so than New York in fact. A meal in Chennai costs even less than in Delhi. In Chennai, a meal can cost you just $1.50. Similarly, the average rent of a three-bedroom apartment in the city center is less than that of Delhi; about $450.
6. Buenos Aires – Argentina (CoL 41)
If you are a football fan, you either love Argentina or respect (begrudgingly) them for their game. For an Argentine football fan, living at the heart of the country can seem like a dream. So here’s good news for those fans out there; the living cost of Buenos Aires is less than that of Dhaka! A cappuccino there costs about $1.50 and the average rent of a three-bedroom apartment in the city center is about $510. What about the ticket price of a football match? Prices begin at just $19!
5. Lagos – Nigeria (CoL 40)
Dubbed as one of the ‘fastest-growing’ cities in the world, Lagos of Nigeria is a prime location among property hunters. The city’s rapid development has propelled it to the ranks of a megacity recently. And as more commercial and economic growth ensues, the cost of living in Lagos is sure to increase. For now, though, a meal costs around just $1.80. Apartment prices are also quite low in comparison to other major cities. The average price per square meter apartment in the city center is around $970.
4. Karachi – Pakistan (CoL 40)
While Karachi is yet to reach the same stature as Lagos, the city is still a premier industrial and financial center. Karachi has been a major hub since the British era. The city seems to have everything that you’d want, from family-friendly neighborhoods to international standard sports academies. You can even scuba dive in Karachi! So, how much does it cost to live in this city? Average rent is $131. A liter of milk? $0.70. The average rent of a three-bedroom apartment in the city center is about $290.
3. Bangalore – India (CoL 39)
Bangalore is the third and final entry from India in our list of most affordable cities in the world. With over 10 million citizens from multiple ethnicities and religions, it is a cultural petri dish. Here, a full meal can cost just 2 Dollars! A dozen eggs will cost around 90 cents. As for the average price per square meter of property in Bangalore city center, it will cost you about $1,750.
2. Almaty – Kazakhstan (CoL 39)
Known for its natural beauty and space facilities, Kazakhstan also has one of the most affordable cities in the world. How affordable? Well, for starters, Almaty is about 61% less expensive than New York and you can buy a good pair of Nike’s for less than $80! That’s how affordable Almaty is. The city isn’t heavily populated like most other entries in our list. And the average rent of a three-bedroom apartment in the city center is about $630. As a result, Almaty can be a wonderful destination to live on the cheap.
1. Tashkent – Uzbekistan (CoL 35)
From one ‘Stan’ to another, Tashkent is the capital of Uzbekistan and home to roughly 2.48 million people. Approximately, a three-course meal at a good restaurant in Tashkent costs around $15, which is about 41% less than its Almaty counterpart. A cappuccino costs $1.20, while a liter of gasoline costs just 50 cents. The average rent of a three-bedroom apartment in the city center is about $485.
There you have it, the least expensive cities in the world to live in according to the Worldwide Cost of Living 2019 by The Economist Intelligence Unit. There are two more cities that have an even lower cost of living than our list covers, but the reasons behind them are quite unfortunate. But the 8 places we mentioned here can be great choices for living affordability.
Which of these cities intrigue you the most? Let us know in the comments section below!