The Syrian capital city of Damascus is the cheapest city to live in the world, according to the Economist Intelligence Unit’s (EIU) Worldwide Cost of Living (WCOL) survey. It is followed by another Middle-Eastern city, Iran’s capital, Tehran, taking the second spot.
The WCOL is a bi-annual survey that “compares more than 400 individual prices across more than 200 products and services in 173 cities,” according to the EIU. The latest survey, which was held between August 14 and September 11 2023, reveals some key facts about the cost of living, affordability and living conditions in cities across the world.
On the other end of the spectrum, the WCOL survey also named Singapore and Zurich as the world’s most expensive cities in terms of cost of living. They are followed by New York, Geneva and Hong Kong in the top five.
What contributes to Damascus’s ranking
Damascus, though crowned the cheapest city in the world to live in, has seen a rise of 321 per cent year-over-year in its WCOL price basket in local currency terms.
According to the EIU report, cities globally have witnessed a price rise.
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The report states, “Prices rose by an average of 7.4 per cent in local-currency terms over the past year in the world’s major cities. This is slightly slower than the 8.1 per cent price growth recorded last year, as supply-chain disruptions have eased and interest rates have risen, but remains significantly above the trend in 2017-21.”
Tehran has also faced a high inflation rate of nearly 49 per cent, while prices of daily commodities have risen by 5 per cent in one year in Tripoli, Libya, which takes the third spot among the cheapest cities. However, these places are noted for their inexpensive groceries as well as household and personal-care products.
It must also be noted that the survey took place before the Israel-Hamas war, which has impacted the prices in these cities.
Which are the world’s cheapest cities?
Besides Damascus, Tehran and Tripoli, the EIU list of the world’s cheapest cities include Pakistan’s Karachi at #4 and Tashkent in Uzbekistan at #5.
The top 10 cheapest cities in the world are as follows:
Rank 1 — Damascus, Syria
Rank 2 — Tehran, Iran
Rank 3 — Tripoli, Libya
Rank 4 — Karachi, Pakistan
Rank 5 — Tashkent, Uzbekistan
Rank 6 — Tunis, Tunisia
Rank 7 — Lusaka, Zambia
Rank 8 — Ahmedabad, India
Rank 9 — Lagos, Nigeria
Rank 10 (tied) — Chennai, India
Rank 10 (tied) — Buenos Aires, Argentina
Click here for the full report
Things to do and places to visit in Damascus
Steeped in history and culture, Damascus offers an old-world charm of the region. The Umayyad Mosque — also called The Great Mosque of Damascus — Al Azm Palace and the Mausoleum of Saladin are some of the noted monuments and places of interest in the Syrian city.
For foodies, Ward Al Sham, Em Sherif, Naranj and Haretna are among the choicest dining destinations in Damascus.
Al Iwan, Damascus Airport Hotel, Semiramis Hotel and Al Majed Hotel are some of the best accommodations in the city.
(Hero and feature Image credit: © Vyacheslav Argenberg, CC BY 4.0, via Wikimedia Commons)
Related: These Are the 10 Best Cities in Asia for 2023
Frequently Asked Questions (FAQs)
-What criteria determine a city’s affordability?
The Economist Intelligence Unit’s report considered 400 individual prices across more than 200 products and services, including petrol and housing, in 173 cities to determine their affordability.
-What are the cities with the minimum housing costs?
Cities like Damascus, Tulsa, Tashkent and Karachi have the least housing costs.
-What are the best cities to retire?
Chandigarh, Mysore, Tampa, New York and Orlando are some of the best cities to live in after retirement.
-What are the cheapest cities to establish business?
Prague, Budapest, Columbia, Wichita, Belfast and Tel Aviv are some of the cheapest cities to start a business in.
-What are the most affordable cities for education?
Berlin, Helsinki, Warsaw, Kuala Lumpur, Delhi, Hsinchu and Taipei are some of the most affordable cities for education.
-What are the cheapest cities with the best quality of life?
Cities like Copenhagen, Warsaw, Helsinki, Udaipur, Mysore and Frankfurt are among the cheapest cities with the best quality of life.
Written By
Trinetra Paul
Trinetra is an ardent foodie and bibliophile who writes about films, travel, food and lifestyle. As a writer and literature student, slam poetry and storytelling are her go to jam. When not working, Trinetra is busy looking for her next place to visit or binge-watching Instagram videos for travel inspiration.
