Money can’t buy happiness, but it can buy a lot of stuff in Ukraine. According to the Economist Intelligence Unit’s ranking of the cost of living in 133 major cities, Kyiv — with a population of 3 million people — is the eighth cheapest major city in the world.
The ranking is based on the cost of living through tracking prices of food and other items.
In order to evaluate the cost of living in each of the cities, Economist researchers collect the prices for over 160 items in various stores in each city: supermarkets, mid-priced stores and higher-priced speciality outlets. An average is then evaluated, and converted (using the current exchange rate) into a common currency – U.S. dollars.