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FINANCIAL NEWS
Survey ranks Muscat, Jeddah amongst world’s cheapest cities
06 Feb 2013
(MENAFN) A new survey by the Economist Intelligence Unite ranked Muscat and Jeddah amongst the top ten cheapest cities in the world, Arabian Business reported.
The analyst’s worldwide cost of living index was conducted in 131 countries globally, and involved costs of more than 160 items ranging from food and clothing to domestic help, transport and utilities.
The survey ranked Jeddah in the 127 position while Muscat was ranked 120, saying that Middle Eastern cities dominated the bottom of the list due to “the use of price controls and the pegging of currencies to the US dollar”.
Tokyo reclaimed the title as the world’s most expensive city followed by Osaka, Sydney and Oslo. Also featured in the 2013 top ten were Singapore, Zurich and Paris.
Languishing at the bottom of the list was Tehran, just behind Jeddah and Panama City. Other top cheapest cities included Dhaka, Kathmandu and Karachi.
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