The EIU's annual Worldwide Cost of Living report highlights the top 10 most expensive and cheapest cities around the globe ranking over 130 cities across the globe.
World Ranking: These are the cheapest African cities to live in
Lagos and Algiers listed among the cheapest cities in the world, according to a new report by The Economist Intelligence Unit (EIU).
The report surveys a range of stores and converted prices of goods into a central currency (US dollars) using the prevailing exchange rate and weighted in order to achieve comparative indices.
According to the report, the cheapest cities in the world are those that they have faced political and economic and security disruption.
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“This means that there is a considerable element of risk in some of the world’s cheapest cities,” the report states.
“Put simply, cheaper cities also tend to be less liveable.”
Out of the 133 cities ranked, Lagos is rank at 130 while Algiers rank 127 while Pretoria and Johannesburg is rank at 110 and 105 respectively.
Cairo (Egypt) is 121 on the list of biggest movers in the world ranking.
Other cheapest cities around the world include Damascus (Syria), Caracas (Venezuela), Almaty (Kazakhstan) Bangalore (India), Karachi (Pakistan), Chennai (India) Bucharest (Romania), New Delhi (India)
On the most expensive cities are Singapore, France and Switzerland.
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