Kuwait has achieved the remarkable distinction of topping the global rankings in terms of the most affordable cost of living compared to the average monthly income, as indicated by the “Workyard Research” company.
The study underscores that Kuwait boasts an average per capita income of $6,199, with a corresponding living cost of $752.70. This exceptional positioning solidifies it as the foremost city globally for offering residents a highly favorable and budget-friendly environment, enabling them to retain a substantial portion of their earnings after fulfilling essential expenses, reports Al-Anba daily.
Conversely, in a similar context, New York emerges as a paradoxical case with relatively lower living conditions despite its high incomes, mainly due to the elevated cost of living.
“Workyard Research” based its findings on meticulous analysis of data from 20 cities, aiming to identify locations where individuals can secure substantial earnings without a commensurate expenditure on living costs.
The company further clarified that the data originated from authoritative government employment sources. It compared the average monthly income for each city with the corresponding living expenses for the year 2023. The resultant rankings highlight cities that offer enticing prospects for those seeking a lifestyle characterized by both high income and low expenses.
Three cities in the United Arab Emirates, namely Abu Dhabi, Dubai, and Sharjah, have also retained their positions in the list of the top 10 most affordable global cities, with Kuwait securing the coveted first place.
Abu Dhabi clinches the second spot, boasting a high income and a low cost of living at $7,154 per month in contrast to expenditures of approximately $873.10. Meanwhile, Riyadh secures the third place, featuring an average monthly income of $6,245, juxtaposed with living costs amounting to $814.90.
Beyond the Middle East, the Australian city of Melbourne stands out as an attractive location to reside in, offering an average monthly income of $7,312 alongside living expenses totaling about $1,079.20.
In the global list, London and San Francisco occupy the eighth and ninth positions, with monthly incomes of $8,411 and $9,249 respectively, while sustaining living costs of $1,260.80 and $1,440.10 per month. Notably, Zurich and the Norwegian city of Oslo also hover near the top ten.
Remarkably, “Workyard Research” highlights an unexpected challenge faced by New York. Despite an average monthly income of approximately $4,205, New Yorkers encounter the formidable task of managing living costs amounting to $1,448.
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