10 (joint). Caracas, Venezuela — The EIU said that "in Venezuela the adoption of multiple exchange rates has made pricing Caracas nearly impossible." It added that "the economic difficulties in Venezuela are highlighted by the impact of these multiple exchange rates. If the cost of living was calculated using the official rate, Caracas would be more than four times more expensive than New York. Conversely, if black market rates applied then it would be almost ten times cheaper than New York."
10 (joint). Damascus, Syria —The war-torn city understandably ranks very low due to geopolitical instability. Large parts of the country have been left in ruins by nearly five years of civil war.
8. New Delhi, India —It may be the most expensive city to live in India but it actually ranks in the top 10 cheapest places to live in the world due to the cost of food and utilities relative to salaries.
7 (joint). Karachi, Pakistan — Food, transportation, and entertainment is relatively cheap in Karachi. Housing is also very cheap, partly because of high crime rates.
7 (joint). Chennai, India —The city has a burgeoning metropolitan area but around 30% of the city's population live in slums.
7 (joint). Algiers, Algeria — The capital city of Algeria is famous for its white buildings but its dense population and slums keep prices down. Food, transport, and housing are all super cheap.
7 (joint). Almaty, Kazakhstan — Houses are hard to come by in Almaty but there are plenty of flats which keeps accommodation supply buoyant. And because utilities are usually controlled by a central network, it means you won't have any choice when your heating is turned off, which keeps costs low.
3. Mumbai, India — It is the most populated city in India with 18.4 million inhabitants and houses the most billionaires and millionaires in the country. However, local food, transportation, and housing costs are relatively cheap.
2. Bangalore, India — The city is known as the IT capital of India and is fast becoming more cosmopolitan. However, relative to wages, living arrangements are extremely affordable.
1. Lusaka, Zambia — It's the capital and largest city in the country and also the centre for both commerce and the government. It's cheap for locals to live but if you are an expat, accommodation, transport, and schooling costs could be very high.
