You might think London, New York or Tokyo would be top of the list for cost of living in cities around the world, but recent findings from the Economist Intelligence Unit (EIU) have revealed otherwise.
For the third year in a row, Singapore was ranked highest (pictured above are its futuristic Supertrees at Gardens by the Bay). Meanwhile, Tokyo, came 11th, New York seventh and London sixth out of a list of 133 cities.
The cheapest cities in the world were Lusaka, Karachi, Chennai, Algiers and Almaty.
The report was based on the prices of 400 services and products such as home rents, clothing, food and transport across each destination. It also took into consideration fluctuations in currency exchange rates to most accurately reflect the relative cost of living for residents in each city.
Jon Copestake, an editor of the survey, told the BBC: “In nearly 17 years of working on this survey I can’t recall a year as volatile as 2015. Falling commodity prices have created deflationary pressures in some countries, but in others currency weakness caused by these falls has led to spiralling inflation.”
The EIU said of Zambia’s capital Lusaka: “Despite rampant inflation, a devaluation of the Kwacha caused by falling copper prices has pushed the city’s cost of living down to just 41 per cent of New York’s.”
It added: “It is Russia, scheduled host of the 2018 FIFA World Cup, that has seen the biggest decrease over the last year, with St Petersburg and Moscow tumbling 51 [to 118th] and 63 [to 113th] places down the ranking respectively, reflecting a 40 per cent decline in living costs over the previous year.”