Deutsche Bank Lists Cairo as 4th Cheapest City to Live in

According to the 8th Deutsche Bank annual survey of global prices and living standards, Cairo is the fourth cheapest city in terms of cost of living compared to 56 other cities.

Data published on the bank's official website indicated that only three Indian cities preceded Cairo as the most cheapest cities, including Bangalore, Delhi, and Mumbai. On the contrary, the Swiss city of Zurich was ranked the most expensive city, followed by Hong Kong and Shanghai.

In 2019, the cost of the 2 liter Coca-Cola package in Cairo is $ 0.76 from $ 0.68 last year and $ 1.33 in 2014. Cairo is the second-lowest city for the price of Coca-Cola this year following Istanbul's $ 0.74. On the other hand, Oslo was the most expensive at $ 4.73.

Cairo stood seventh among the most expensive cities for the price of a pair of sports shoes (Nike, Adidas or Equivalent Brands) at $ 112.1, while Zurich was the most expensive at $ 150.9, and Bangalore was the cheapest at $ 58.3.

The Egyptian capital was ranked 40th among 56 cities for the price of a Levis Jeans (Levis 501 or similar) at $ 55.8, while Zurich was the most expensive at $ 119.6 and Nigeria's Lagos was the cheapest at $ 24.3.

In the survey, Hong Kong's gasoline price was the most expensive, recording $ 2.04 per liter. Egypt reported the cheapest price globally at $ 0.39, surpassing Riyadh's $ 0.40.

Cairo was ranked 15th in terms of the price of 1 Summer Dress in a High Street Store (Zara, H&M or similar retailers) priced at $ 48, while the most expensive was Riyadh at $ 68, and the cheapest was Lagos at $ 27.

Moreover, the average price of a movie ticket in Cairo is $ 4, making it the fourth cheapest city in terms of price, while Istanbul reported $ 3.6 and Zurich $ 19.1.

Cairo came in the 42nd spot in terms of a pack of Marlboro cigarettes at $ 3.3, while Australia's Melbourne was the most expensive at $ 23.1. Lagos, Nigeria's largest city, was the cheapest at $ 1.4.

On the monthly subscription to Internet services (8 MB), Cairo is the fourth lowest city at $ 12, while Moscow reported $ 7 and Dubai $ 82.

Furthermore, The Egyptian capital is the fourth-cheapest city in terms of haircuts for men at $ 4.4, while the cheapest is Bangladesh's Dhaka at $ 3.8, and Copenhagen is the most expensive at $ 47.6.

Milan has been listed as the most expensive in terms of hotel prices at $ 961, while Kuala Lumpur was the lowest at $ 164. Cairo's 5 stars hotels are the fifth most expensive, where the cost of the night reaches up to $ 658.

Egypt ranked ninth out of 40 countries in terms of the cost of buying the iPhone XS at $ 1537, while Nigeria was the cheapest at $ 1178 and Brazil registered the most expensive price at $ 2050.

Among 42 currencies included in the exchange rate report, The Egyptian pound was the only currency to rise against the US dollar. The pound rose by 3 percent to record 16.78 after recording 17.86 last June.

Over the last 12 months, the Turkish Lira fell by 31 percent and the Argentine Peso by 55 percent, making them the biggest losers this year.

Moreover, the dollar has out-performed 27 currencies, which fell more than 20 percent in the past five years.

The Norwegian and Swedish Krone fell by 31 percent each, Brazilian Real also witnessed a 43 percent drop. The Russian Ruble fell by 44 percent, Nigerian Naira by 55 percent, Egyptian Pound by 59 percent, and the Turkish Lira by 64 percent, while the Argentine Peso arrived at the top of the list losing nearly 82 percent of its value.

The sterling observed a significant 23 percent drop, the euro also depreciated 20 percent, and the Swiss Franc registered a 14 percent decline against the greenback.