Recently, Pakistan has been ranked as ‘the cheapest country in the world to live in’ with a cost of living index (CLI). As per the report on the cost of living index compiled by GoBankingRates Company, Pakistan is termed the cheapest country to live in.
Reason behind the Pakistan ranked as cheapest country ?
Pakistan ranked as cheapest country on the basis of “cost of living” index. Which is 18.58 for Pakistan, followed by Afghanistan 24.51, India 25.14 and Syria 25.31. This index based on cost of living index provided by International company “GoBankingRatesCompany”. Company uses four metrics to calculate which countries are the most affordable.
Those metrics include rent index, local purchasing power index, consumer price index, groceries index. Then the information collected is compared to the cost of living in New York City, which is one of the most expensive cities in the world.
Most Expensive countries of the world ?
According to GoBankingRatesCompany the most expensive countries to live in are the Cayman Islands 141.64, Bermuda 138.22, Switzerland 122.67, and Norway 104.49. All four of these countries have a higher cost of living than New York City.
Cost of Living means ?
The cost of living means “the money needed to sustain a certain comfort level in a location and covers basics like housing, groceries, taxes, and healthcare”.
Many countries have a very high cost of living, specially in locations around large cities as in the United States, cities like New York and San Francisco have a very high cost of living. On the other side, some countries have a very low cost of living, so many people are planning to move to these countries.
Most Cheapest Country of World ? | Pakistan | New York | Most Expensive Country of the World ? | Cost of Living Index | GoBankingRatesCompany | Index |
