Pakistan Ranked as Cheapest Country to Live In, According to World of Statistics – South Asia Time

Pakistan Ranked as Cheapest Country to Live In, According to World of Statistics

 May 26, 2023  

Islamabad— Despite facing economic challenges, political unrest, and high inflation rates, Pakistan has been recognized as the “cheapest country globally to live in,” as per the latest ranking by the World of Statistics. The ranking takes into account the cost of living plus rent index, highlighting the affordability of various nations.

Pakistan secured the top position on the list, followed by Egypt in second place and India in third place. Nepal also made its mark by securing the seventh position in the ranking. The cost of living and related indices are measured in terms of US dollars required to sustain a comfortable lifestyle in a particular country.

Pakistan’s ranking, with an index score of 18, reflects its remarkably low cost of living compared to other nations. The Rent Index score stands at 3.4, further emphasizing the affordability of accommodation in the country. Additionally, Pakistan’s Groceries Index score is 15.4, the Restaurant Price Index is 13.7, and the Local Purchasing Power Index score is 24.4.

Following closely behind Pakistan, other countries recognized for their cost-effectiveness include Egypt, India, and Colombia. These findings have significant implications for individuals seeking affordable living options, particularly in a time when economic challenges, political unrest, and inflation are prevalent.

Conversely, the ranking also sheds light on the most expensive countries to reside in. Bermuda tops the list, known for its high cost of living, followed by Switzerland, Cayman Islands, and Bahamas, known for their affluent lifestyles.

Pakistan’s recognition as the cheapest country to live in has captured the attention of global economists and individuals contemplating relocation. It raises questions about the country’s economic dynamics and affordability, stimulating further analysis and discussion.

These rankings are determined by comparing the cost of various necessities, such as housing, groceries, taxes, and healthcare, in different countries. The costs are then compared to a baseline city, such as New York City, to enable nation-to-nation comparisons. The compiled data showcases the significant variations in the cost of living worldwide.

For a more detailed breakdown of the top 10 cheapest countries to live in, the following information is provided:

Top 10 Cheapest Countries to Live In (in monthly US$) – Living Cost

  1. Afghanistan – $354
  2. Pakistan – $370
  3. India – $423
  4. Tunisia – $424
  5. Sri Lanka – $428
  6. Kyrgyzstan – $430
  7. Algeria – $431
  8. Syria – $435
  9. Nepal – $439
  10. Turkey – $447

Top 10 Cheapest Countries to Live In (New York City, USA = 100) – Numbeo

  1. Pakistan – 13.87
  2. India – 15.84
  3. Afghanistan – 16.54
  4. Nepal – 17.01
  5. Algeria – 17.34
  6. Syria – 17.83
  7. Tunisia – 18.15
  8. Egypt – 18.43
  9. Kosovo (territory) – 19.00
  10. Uzbekistan – 19.02

Top 10 Cheapest Countries to Live In (Global average = 100) – Global Economy

  1. Egypt – 27.37
  2. Ukraine – 37.76
  3. Sudan – 38.29
  4. Kyrgyzstan – 40.38
  5. Azerbaijan – 40.56
  6. Burma – 41.08
  7. Sierra Leone – 41.32
  8. Nepal – 41.85 9