Back to the complete issue
Wednesday, 20 March 2019

Cairo ranked among the world’s least expensive cities

Cairo is one of the least expensive cities in the world, according to the Economist’s Intelligence Unit’s 2019 Worldwide Cost of Living Survey (paywall). The findings are based on the comparative cost of 160 products and services in each location, including housing, transportation, utilities, clothing, private schooling, and domestic help, among others. The nation’s capital was ranked 125 out of 133 global cities ranked on this year’s report, making the cost of living in Cairo more expensive than Karachi in Pakistan, India’s New Delhi, Chennai, and Bangalore, and Almaty in Kazakhstan. Caracas, Venezuela’s capital city, was named the world’s least expensive city to live in — a title previously held by Damascus in Syria.

Geographic trends: The world’s most expensive cities are mostly centered in Europe and Asia, with Singapore, Hong Kong, and Paris tying for the number one spot. Other cities sitting around the top of the ranking include non-EU western European cities, including Switzerland’s Zurich and Geneva, and Denmark’s Copenhagen. On the flipside, many Asian countries also rank among the cheapest cities in the world, alongside a few in South America and Africa.

A low cost of living does not a happy city make: “As Damascus and Caracas show, a growing number of locations are becoming cheaper because of the impact of political or economic disruption. Although South Asia remains structurally cheap, political instability is becoming an increasingly prominent factor in lowering the relative cost of living. This means that there is a considerable element of risk in some of the world’s cheapest cities.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.