Colombo ranked amongst 10 cheapest cities in the world

 

Colombo (Sri Lanka) has been ranked amongst the 10 cheapest cities in the world in this year’s Worldwide Cost of Living survey (WCOL), run by the Economist Intelligence Unit (EIU).

The city was ranked at 161, tying with Bangalore (India) and Algiers (Algeria), while Damascus (Syria), Tripoli (Libya) and Tehran (Iran) were ranked the lowest at 172, 171 and 170, respectively, reflecting their weak economies and currencies.

The EIU noted, however, that this year’s WCOL survey was severely affected by the soaring inflation rates, with Caracas, Venezuela having recorded the highest inflation rates.