These Are The World’s Most Affordable Cities

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If you’re looking to stretch your dollar on a global scale, you should definitely consider a move to the Far East.

In the Economist’s latest World Cost Of Living Index, Asian countries make up more than half of the world’s 20 least expensive cities –– and six are in the top 10.

The bi-annual index ranks countries based on the prices of 160 commodities*, including food, drink, clothing,  housing, transport, utility bills, and private schools. 

These types of lists are typically used by companies to determine how much to adjust employee salaries based on where they are stationed, but we think it’s a pretty fascinating snapshot of global life in and of itself. 

For one thing, half the top 10 cheapest places to live are widely known for under-performing economies, high income inequality and political unrest. 

*The index is based on the cost of living in New York City, which is fixed at a base of 100.

10. Tehran, Iran

World Cost of Living Index: 58

1 kg loaf of bread:

• Today: $ 1.55
• Five years ago: $ 0.24

A bottle of wine:

• Today: N/A
• Five years ago: N/A

A pack of cigarettes:

• Today: $ 2.53
• Five years ago: $ 1.88

1 liter of unleaded gas: 

• Today: $ 0.53
• Five years ago: $ 0.11

9. Jeddah, Saudi Arabia

World Cost of Living Index: 57

1 kg loaf of bread:

• Today: $ 1.33
• Five years ago: $ 1.10

A bottle of wine:

• Today: N/A
• Five years ago: N/A

A pack of cigarettes:

• Today: $ 2.40
• Five years ago: $ 1.60

1 liter of unleaded gas:  

• Today: $ 0.13
• Five years ago: $ 0.16

8. Panama City, Panama

World Cost of Living Index: 56

1 kg loaf of bread:

• Today: $ 3.34
• Five years ago: $ 1.95

A bottle of wine:

• Today: $ 6.92
• Five years ago: $ 11.00

A pack of cigarettes:

• Today: $ 4.08
• Five years ago: $ 1.43

1 liter of unleaded gas:  

• Today: $ 1.15
• Five years ago: $ 0.83

See the rest of the story at Business Insider

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