Mumbai remains world's cheapest city at $30k per person annually

A new report has named Mumbai as world's cheapest city.

The Indian city retains its position as the cheapest world city, at 29,742 dollars per person per year, down -21 per cent in US dollar terms since 2008, the Guardian reported.

The report by estate agent Savills named Rio as the second cheapest world city at 32,179 dollars, followed by Shanghai at 43,171 dollars, while Sydney was at 63,630 dollars.