Islamabad 51
  • Home
  • Latest
  • City
  • National
  • International
  • Education
  • Sports
  • Tech
  • Showbiz
  • Privacy Policy
  • Contact Us
  • About Us
No Result
View All Result
  • Home
  • Latest
  • City
  • National
  • International
  • Education
  • Sports
  • Tech
  • Showbiz
  • Privacy Policy
  • Contact Us
  • About Us
No Result
View All Result
Islamabad 51
No Result
View All Result
Home National

Karachi, Islamabad Among World’s Cheapest Cities for Expatriates in 2023

Editor Isb by Editor Isb
May 14, 2025
in National, Latest
0
Karachi, Islamabad Among World’s Cheapest Cities for Expatriates in 2023
Share on FacebookShare on Twitter

Karachi and Islamabad, the two major cities in Pakistan, have been recognized as some of the most affordable places in the world for expatriates to reside in, according to a recent Cost of Living survey conducted by global consultancy Mercer.

These rankings highlight the relatively low cost of living for foreign workers in these Pakistani cities. However, for local residents, the situation is different, as inflation has been steadily increasing since the beginning of the year due to the government’s implementation of challenging fiscal measures required by the International Monetary Fund (IMF). These measures were necessary to access delayed funding from the IMF.

More Insights: Explore Related Stories

Karachi opens registration office on weekends for new number plates

Over 41,500 pilgrims return via PIA; Hajj 2026 registration open till July 11

Textile mills to pay cotton cess in four installments under new pact

WHO to support 1.3 million in flood-prone districts before monsoon

Budget-Friendly Options for Expatriates Identified

Apart from Karachi and Islamabad, several other cities were identified as budget-friendly options for expatriates. These cities include Havana in Cuba, Bishkek in Kyrgyzstan, Dushanbe in Tajikistan, Windhoek in Namibia, Ankara in Turkey, Durban in South Africa, Tunis in Tunisia, and Tashkent, the capital city of Uzbekistan.

Mercer Survey and its Role in Determining Compensation Packages

The Mercer survey plays a crucial role in determining compensation packages for employees on international assignments, considering factors such as currency fluctuations, cost inflation for goods and services, and accommodation expenses. To rank the cities, Mercer’s survey evaluated over 200 components, including housing, transportation, utilities, food, domestic supplies, and entertainment, across more than 400 cities worldwide.

Hong Kong, Singapore, and Zurich Top the List of Most Expensive Cities

On the other end of the spectrum, the survey revealed that Hong Kong, Singapore, and Zurich claimed the top three spots as the most expensive cities globally. Switzerland had a notable presence in the top 10, with Geneva, Basel, and Bern securing the fourth, fifth, and seventh positions, respectively. New York City was deemed the most expensive city in the United States, ranking sixth globally. Tel Aviv in Israel emerged as the eighth costliest city for international workers, making it the most expensive city in the Middle East. Copenhagen and Nassau in the Bahamas completed the top 10, securing the ninth and tenth places, respectively.

Concerns Over Global Economic Outlook and Impact on Pay and Savings

Mercer expressed concerns about the global economic outlook, stating, “Due to the recent introduction of aggressive national monetary policies and the tightening of global financial conditions, many economies are likely to see slower income growth this year, along with rising unemployment.” It added, “Debt levels among many countries remain high, and core inflation has not yet peaked in many markets. Inflation and exchange rate fluctuations are directly impacting the pay and savings of employees who are internationally mobile.”

Impact of Various Factors on Expatriate Salaries and Savings

Among the African cities, Bangui, Djibouti, and Luanda scored high in the global cost of living rankings. The report attributed the impact on expatriate salaries and savings to various factors, including the escalation of the Russia-Ukraine crisis, the emergence of more contagious COVID-19 variants, exchange rate fluctuations, and widespread inflation. Globally, inflation is expected to decrease to 7% this year.

Inflation Outlook in the Middle East and Central Asia

In the Middle East, inflation is anticipated to reach 4.9% in 2024, a decline from the high of 8.7% witnessed in 2022, according to the International Monetary Fund’s Regional Economic Outlook on the Middle East and Central Asia. The Organisation for Economic Co-operation and Development (OECD) adjusted its outlook for headline inflation to 5.9% in 2023, reducing it by 0.

(Islamabad51-Newsdesk)

Previous Post

CDA Chairman’s Order to Address Compensation Payment to Ineligible Victims

Next Post

CDA Makes Rainwater Harvesting Wells Compulsory in Housing Units

Editor Isb

Editor Isb

Related Posts

New Ajrak Design Number Plates for Vehicles

Karachi opens registration office on weekends for new number plates

by News Desk
July 10, 2025
0

KARACHI – In a move aimed at providing ease to vehicle owners, Sindh Minister for Excise, Taxation, and Narcotics Control,...

PIA Flight

Over 41,500 pilgrims return via PIA; Hajj 2026 registration open till July 11

by Editor Isb
July 10, 2025
0

KARACHI: Pakistan International Airlines (PIA) has successfully completed its post-Hajj flight operation, bringing back over 41,500 pilgrims to the country....

cotton

Textile mills to pay cotton cess in four installments under new pact

by Editor Isb
July 10, 2025
0

ISLAMABAD: The government and the All Pakistan Textile Mills Association (APTMA) have reached an agreement on the collection of cotton...

Next Post
cda rain

CDA Makes Rainwater Harvesting Wells Compulsory in Housing Units

pakistan currency notes

Sindh Government Orders Disbursement of Salaries Ahead of Eid ul Adha

PM Shehbaz Unveils Investments in Agriculture & IT Innovation in Upcoming Budget

PM Shehbaz Unveils Investments in Agriculture & IT Innovation in Upcoming Budget

Finance Bill 2023-24: No Customs Duty on Solar Panel Raw Materials

Finance Bill 2023-24: No Customs Duty on Solar Panel Raw Materials

Follow Us

Recommended

Cannes’ Best Actress Merve Dizdar Faces Backlash Upon Return to Turkey

Cannes’ Best Actress Merve Dizdar Faces Backlash Upon Return to Turkey

2 years ago
election-commission-pakistan-ecp

ECP Bends to Pressure, Extends Nomination Deadline by Two Days

2 years ago
PTI Legal Team’s Violent Clash with Jail Staff Sparks Legal Action

PTI Legal Team’s Violent Clash with Jail Staff Sparks Legal Action

2 years ago
Commerce Minister Backs ICCI’s Expo, IT Park, Industrial Estate Plans for Islamabad

Commerce Minister Backs ICCI’s Expo, IT Park, Industrial Estate Plans for Islamabad

1 year ago

Categories

  • City
  • Education
  • International
  • Latest
  • National
  • Showbiz
  • Sports
  • Tech
  • Uncategorized

Pages

  • About Us
  • Contact Us
  • Disclaimer
  • Home 1
  • Privacy Policy
  • Terms of Service

Follow us on Google News for Latest Updates

Recent News

  • Karachi opens registration office on weekends for new number plates
  • Over 41,500 pilgrims return via PIA; Hajj 2026 registration open till July 11
  • Textile mills to pay cotton cess in four installments under new pact

Category

  • City
  • Education
  • International
  • Latest
  • National
  • Showbiz
  • Sports
  • Tech
  • Uncategorized
No Result
View All Result
  • Home
  • Latest
  • City
  • National
  • International
  • Education
  • Sports
  • Tech
  • Showbiz
  • Privacy Policy
  • Contact Us
  • About Us

© 2023 Islamabad51