Top 10 Most Affordable Places to Live in the World

0
2391

You

Vivid Sydney South Africa is the most affordable place in the world to live because of its richest resources of gold, platinum, and chromium. The ability of a person to work enhances when he is living in a foreign country for the months at a time. He would also be able to enjoy the new environment. The ideal way to live in a foreign country is designing, writing, programming, teaching English or working in industry. Here you can find a list of Top 10 Most Affordable Places to Live in the World.

Many of the people want to live in these faraway lands after their retirement.  By studying the most expensive or most livable cities, the information about the places to live in, housing costs, etc. can be obtained. Some places in the world are cheap to live, and these environmental conditions are nice, while some other places are inexpensive. To find the best quality of life in the world, the best places to live, the best climate and the healthiest environment to live. Every year the international ranking of the places to live in the world is prepared. Do you know about Most expensive cities for living?

10 – Macedonia

Affordable PlacesMacedonia is one of the most affordable country to live having lowest rents residences. It is an European country which is located just the north of Greece and has a population of 2.1 million. Textiles, food and oil processing industries are the major industries of this country.

9 – Czech Republic

9 Czech RepublicCzech Republic European country situated at country borders of Germany, Austria and Poland. The population of this country is 10.6 million. According to the estimation of the world bank, this country has higher GDP of 19,5000 dollars per criteria. Suggesting that the locals can afford more things their income.

8 – Paraguay

8 ParaguayParaguay is located in South America having a population of 6.8 million. The leading industries in this country are sugar, cement, and textiles. In the capital of this country that is Asuncion, a single person may have just the expenses of 360 dollars per month. And the rent of single bedroom apartment is 250 dollars.

7 – Oman

7 OmanThis country has borders with Saudi Arabia and the Arabian Sea. Being situated in the Middle East, this country is rich in oil and gas resources. Making a nation of this country wealthy. This country has highest local purchasing power in top 10 affordable countries.

6 – Zambia

6 ZambiaThis country is situated in Africa and is the 6th open state of the world to live or retire, because of its high local purchasing power. For people who want to live in a most affordable country must live in Zambia because Zambia would provide both lower costs and local incomes high enough to help to cover the expenses.

5 – Kazakhstan

5 KazakhstanThis country borders Russia and China, having a population of 18.2 million people. Resources of oil, coal and iron core enable the economy and nation of this country wealthy. Further, it is an affordable country to live because the cost of groceries and consumer goods are very small.

4 – Saudi Arabia

4 Saudi ArabiaIn this country the prices of consumer’s goods are small, but the prices of groceries are comparatively high. The crude oil industry, petroleum refining, and petrochemical industries are the primary cause of the wealth of this country. According to World Bank, this country has higher GDP of 24,161 dollars per criteria.

3 – Kosovo

3 KosovoThis the country of Eastern Europe that borders Serbia, Albania, and Macedonia. The major industries of this country are mineral mining and construction materials. The population of this country is 1.9 million. In the capital of this country Pristina, a single person has expenses of 324 dollars per month and the rent of single bedroom apartment is 275 dollars per month.

2 – India

2 indiaIndia is the second populous country of the world having a population of 1.25 billion people. This country relies mainly on the industries of textiles, chemicals, and food processing industries. It has a high local purchasing power, and the cost of consumer’s goods, and groceries are low, with typical expenses of a single person 285 dollars per month.

1 – South Africa

1 South AfricaIt is the most affordable country to live or retire. Platinum, gold, and chromium metals are the resources that make this country productive. In Cape Town, the capital of this country a single person may have expenses of 400 dollars per month.

Bases of Ranking of Most Affordable Countries

This ranking of top 10 most affordable places to live in the world is based on four key accessible metrics providing by online prices data. These four factors are

Local Purchasing Power: This measures the purchasing power of salary of the country about New York. A lower purchasing power can buy fewer goods while a high purchasing power can buy more things.

Rent Index: It compares the typical rent prices of country with New York

Groceries Index: It compare the prices of groceries about New York.

Consumer price Index: It gives the comparison of the prices of utilities and transport facilities about New York’s prices.

The following table gives the comparison of these four key factors for top 10 most affordable countries to live in a world in descending order about New York.

List of Top 10 Most Affordable Places to Live in World

Sr. No. Country Name Purchasing power of Country Relative to New York Rent Index Relative to New York Groceries Index Relative to New York Consumer Price Index

Relative to New York

10 Macedonia 49.7% lower 94% lower 73.5 % lower 68.0% lower
9 Czech Republic 8.4 % lower 87.8% lower 63.0% lower 57.7% lower
8 Paraguay 49% lower 91.7% lower 75.3% lower 69.7% lower
7 Oman 57.5% higher 71.7 % lower 48.9% lower 44.4% lower
6 Zambia 50 % higher 68.1% lower 59.1% lower 44.6% lower
5 Kazakhstan 38.2% lower 88.9% lower 78.4% lower 66.7% lower
4 Saudi Arabia 33.6% higher 85.9% lower 56.4% lower 49.9% lower
3 Kosovo 33.8% lower 91.5% lower 75.8% lower 72.6% lower
2 India 20.9% lower 96.2% lower 74.4% lower 74.4% lower
1 South Africa 26.9% higher 87.5% lower 71% lower 65.8% lower

 

Conclusions

From the above article, it can be concluded that South Africa is the best affordable place to live regarding purchasing power, rent index, groceries index and consumer price index.

Save

Comments

comments