In this piece, we will take a look at the five cities with the lowest cost of living in 2023. For more cities, head on over to 33 Cities With Lowest Cost of Living in 2023.
5. Municipality of Medellín, Colombia
Insider Monkey’s Cost of Living Score: 39.45
Municipality of Medellín houses more than two million people making it the second largest city in Colombia. It is also one of the older cities on our list since it was set up in the early seventeenth century. Medellín is an economic hub in Colombia and has a presence of large and important industries such as insurance, asset management, cement production, banking, and food processing. The city also accounts for large portions of Colombia’s exports, yet there are high levels of income inequality in the region.
4. Mumbai, India
Insider Monkey’s Cost of Living Score: 39.35
Mumbai is one of the largest megacities in the world, with more than ten million people living in its boundaries. The city is also an economic hub within India, one of the largest economies in the world. Several Fortune 500 companies are located in Mumbai, and India’s two primary stock exchanges, the Bombay Stock Exchange and the National Stock Exchange are also based in the city. Its business prosperity has also led Mumbai to house some of the highest numbers of billionaires in the world.
3. Bengaluru, India
Insider Monkey’s Cost of Living Score: 36.35
Bengaluru is the capital city of the Indian state of Karnataka. It is also the largest city in the state and houses more than eight million people. Bengaluru is also one of the oldest cities in India, having been set up more than a thousand years ago. Additionally, the city is central to Indian information technology service exports, as it accounts for more than one third of the total exports. The presence of the IT industry has also led some to dub Bengaluru as India’s very own Silicon Valley.
2. Delhi, India
Insider Monkey’s Cost of Living Score: 35.00
Delhi, not to be confused with New Delhi, is a federally governed territory and city in India. Delhi’s association with New Delhi makes it one of the most popular cities in the world. Delhi is one of the most historic cities in the world, having been the capital of two empires in Indian history. Delhi’s economy is made up of information technology, retail, tourism, manufacturing, and other industries.
1. Pune, India
Insider Monkey’s Cost of Living Score: 35.00
Pune is a Southwestern Indian city. It is another economic hub in the state of Maharashtra, eclipsed only by Mumbai and Thane. Pune is best known for being the starting point of the Indian information technology giant Infosys.
Disclosure: None. You can also take a look at 10 Most Profitable Small Businesses in 2023 and 12 Most Advanced Countries in Biotechnology.
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