New Ranking Shows Pakistan is the Cheapest Country to Live In

The world’s largest database about cities and countries worldwide, Numbeo, has ranked Pakistan as the most economical country to live in.

In its Cost of Living Index for Country 2019, the website ranked Pakistan as the last in the list of a total of 119 countries.

According to the website, Pakistan has the lowest cost of living while Switzerland has the highest. The cost of living index of Pakistan in 2019 is recorded as 20.4 with a rent index of 4.5. The cost of living plus rent index is 12.76 while the groceries index is 18.25.

Pakistan’s local purchasing power index stands at 38.61.

Switzerland, the most expensive country to live as per the index, has a rent index of 50.25 and the purchasing power index of 129.7. Iceland is the second most expensive country with a cost of living index of 101.86 and the purchasing power index of 129.7.

The US has been ranked as the 20th country on the list with a cost of living index of 69.91. The United Kingdom is the 24th most expensive country with a cost of living index of 65.28.

World’s Most Expensive Countries

Here are the five most expensive and five cheapest countries for living according to Numbeo.

Rank Country Cost of Living Index Cost of Living Plus Rent Index Local Purchasing Power Index
1 Switzerland 121.16 87.11 129.70
2 Iceland 101.86 76.13 91.80
3 Norway 100.99 70.40 103.61
4 Bahamas 92.40 64.11 57.01
5 Luxembourg 86.09 71.47 106.26

World’s Cheapest Countries

Here are the countries with the lowest cost of living index:

Rank Country Cost of Living Index Cost of Living Plus Rent Index Local Purchasing Power Index
115 Kosovo 26.18 17.48 61.82
116 Venezuela 25.73 16.20 3.71
117 India 24.17 15.37 66.91
118 Tunisia 23.69 14.69 37.99
119 Pakistan 20.40 12.76 38.61

Notably, Numbeo computes these indices in relevance with the New York City. The cost of living index is a relative indicator of consumer good prices. The relative data is then extrapolated country-wise.

Via: Numbeo