Kuwait is the most affordable city to live in globally according to a recent survey by Workyard Research.
On average, a person in Kuwait has a cost of living worth $752.70 every month. This amount is significantly lower compared to the city’s monthly per capita income of $6,199.
Thanks to this combination, citizens and expatriates alike can save substantially after they have covered their basic expenses.
On the contrary, New York City in the United States is the most expensive city worldwide. Despite increases in wages, the high cost of living makes it challenging for people to reside there, financially speaking.
In New York, individuals earn an average of $4,205. For sustenance, they would need approximately $1,448 monthly.
Read: Development spending in Kuwait amounted to 665.1 mn dinars in FY22-23
Middle Eastern cities rank high
Middle Eastern metropolises occupy the top spots in the list, with Abu Dhabi being the second-best city to live in when it comes to affordability.
The UAE’s capital combines high incomes with an inexpensive cost of living. According to the report, its average monthly per capita income hovers around $7,154, while living expenses average $873.10.
Riyadh, the capital city of Saudi Arabia, ranks third. It has an average monthly income of $6,245. The cost of living there amounts to an estimated $814.90.
Dubai and Sharjah, both in the United Arab Emirates, take the fourth and fifth spots, respectively. Their respective monthly incomes are $7,118 and $5,229, while their living costs are $1,007 and $741.30.
Meanwhile, Resonance Consultancy ranked Kuwait as the fourth best city in region to live in. Dubai and Abu Dhabi retained the first and second positions, respectively, for the fifth year in a row. Included on the list of the top ten cities at the regional level are Doha, Manama, Muscat, Riyadh, Oman and Jeddah.
Ranking metrics
Workyard researchers gathered data from various government sources, analyzing 20 cities around the world.
They assessed each city by comparing their monthly income with their average monthly living costs for the year. The living expenses cover rent, food, and utilities, among others.
Other top cities on Workyard’s most affordable list include Melbourne, Oslo, London, and San Francisco.
For more economy-related news, click here.
