Lagos Ranks Among World’s Cheapest Cities

Base on research, Economist Intelligence Unit's semiannual study pronounced Nigeria's business city, Lagos is one of the 10 least expensive urban areas on the planet.

Brief News assembled that Lagos was positioned 127 in the review that looks at the expense of in excess of 150 things, for example, autos, nourishment, lease, transport and attire in 133 urban communities.

The outcomes are a long ways from two years when Lagos was named by the domain specialist, Savills as the most costly African city to remain and work in.

The study is gone for helping organizations ascertain remuneration bundles and stipends for ostracize staff and business explorers.

It likewise tracks whether costs have gone up or somewhere around contrasting them and the average cost for basic items in New York, which is utilized as a benchmark.

World’s 10 cheapest cities

1. Caracas (Venezuela)
2. Damascus (Syria)
3. Tashkent (Uzbekistan)
4. Almaty (Kazakhstan)
5. Bangalore (India)
6. Karachi (Pakistan)
6. Lagos (Nigeria)
7. Buenos Aires (Argentina)
7. Chennai (India)
8. New Delhi (India)

However, Paris and Hong Kong were tied with Singapore as the world’s most expensive cities to live in.

It was the first time in more than 30 years that three cities shared the top spot, a sign that pricey global cities are growing more alike, said the report’s author, Roxana Slavcheva.

“Converging costs in traditionally more expensive cities … is a testament to globalization and the similarity of tastes and shopping patterns,” she said in a statement.

“Even in locations where shopping for groceries may be relatively cheaper, utilities or transportation prices drive up the overall cost of living,” she said.

The top ten list was dominated by Asian and European cities, with Osaka and Seoul in joint fifth and joint seventh places respectively. Zurich (4th), Geneva (joint 5th) and Copenhagen (joint 7th) also in the elite club.