List Of Cheapest Countries In The World Is Out –– India’s Rank Will Make You Happy
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From grandparents to friends, every day, we hear people complaining about the rising living costs in India. From the expensive organic food to the peak hour cab fares, everything seems to be getting heavier on the buck. Add to that multiple taxes that are being levied on us and wham, that’s a bullet to our savings! But, as they say, the grass is always greener on the other side, and you only realize that when you cross the fence and see it for yourself. Well, that’s the case with India, too. Although the cost of living seems to be escalating at the speed of light in India, it’s one of the cheapest countries in the world. We kid you not (1).
The survey considers the price of around 50 items, including a vast range of accommodation, food, and beverages from supermarkets and restaurants, clothing, cab fares, recreational activities, utility bills, telecommunication bills, and other daily necessities. A quick analysis of the survey suggests that South Asia, home to rich and vibrant culture and the food is the most affordable region. And to our surprise (or not) some of the cheapest countries in the world include the Philippines, South Africa, Romania, Colombia, Serbia, etc. If any of those countries appeal to you, read the list to plan your retirement in one of these countries, or maybe just a vacation to these countries. Wait till you find out which one is the cheapest country in the world.
5. Zambia
This African country is the perfect destination to relocate to if you’re considering the option. Zambia offers a combination of low costs and high incomes that’s enough to keep you feeling rich. The groceries are where all of our money goes, right? In Zambia, groceries are 59.1 percent cheaper.
4. Tunisia
Tunisia is a beautiful coastal country in North Africa, bordered by the Mediterranean Sea, Libya, and Algeria. The country offers a low cost of living that’s characterized by a local purchasing power that’s 60.4 percent lower than New York City. If you live in a one-bedroom house in Tunisia, all you have to pay is $280 a month!
3. Pakistan
With a population of nearly 200 million people, Pakistan is quite easy on the pockets. A combined cost of rents, food, and other goods for a month come up to about $530 a month! That’s roughly about 38,000 INR. Now, that’s cheap, right? Especially, if you move to Lahore, the local purchasing power is 54.4 percent lower than New York City. The rent is cheaper by 94 percent in Pakistan.
2. Saudi Arabia
Considering that this is the country with strong oil and petroleum industry, this could come as a surprise. But, the parameters that measure the affordability factor zero in on the overall purchasing power of the residents. In Saudi Arabia, the groceries are 56.4 percent cheaper. At an astonishing figure of 85.9 percent, rent is surprisingly very cheap too in Saudi Arabia. If you like going on desert safaris and living a life the habibi way, maybe this is the place you should be.
1. India
Yes, according to the latest survey by GOBankingRates, we live in the cheapest country in the world (2). Maybe, it’s time we quit complaining about mehengaayi and start counting our blessings. India is the first country to feature in the study, with a cost of living index of mere 24.14. The total purchasing power of India is 20.9 percent lower than the other countries. Low purchasing power buys fewer goods, while a high purchasing power buys more goods. Furthermore, in India, the rent is 95.2 percent cheaper, and the groceries are 74.4 percent cheaper (3). In 2016, South Africa was on the first spot as the most affordable country in the world, but now, the country with 1.25 billion people has taken over. Well, well, now that’s good news to us fellow residents, right (is it)? Bolo Bharat Mata Ki?
Ranked on the basis of the groceries index, rent index, local purchasing power index, and consumer price index, these countries boast of affordable and reasonable living costs. While they may seem expensive to the native residents, on a global scale, these countries are dubbed as relatively low-priced and inexpensive.
Humbled by the list, if you’re feeling a little snobbish and if you have too much money lying around in your bank accounts, you can visit these expensive countries in the world:
5. Ghana
4. Switzerland
3. Hong King
2. Bahamas
1. Bermuda
A little cautionary note— traveling to these countries could be worth its weight in gold. If you’re fed up with the expensive dinners, ridiculously exorbitant educational costs, and overpriced real estate costs, then you can do more than just chalking out an all-inclusive budget. Use the aforementioned list as your GPS whenever you plan on traveling or moving out of your country. So, if you’re really troubled with increasing rents and costly dinners, moving elsewhere should be the solution for you. What’s your pick?
