Pakistan Ranks as Cheapest Country to Live in the World, Despite Inflation
- 26, May , 2023
Newstoday: Despite a troubled economy, political upheaval, and increasing inflation, Pakistan has been named #1 as the "cheapest country in the world to live in," according to the World of Statistics report. Egypt is second, and India is third. Previously, Pakistan was ranked worst out of 140 nations in the Numbeo cost of living index for 2023. Pakistan's index score of 18 highlights the country's incredibly cheap cost of living compared to other countries. The Rent Index score is 3.4, indicating the country's housing affordability. Furthermore, Pakistan's Groceries Index is 15.4, Restaurant Price Index is 13.7, and Local Purchasing Power Index is 24.4. After Pakistan, Egypt, India, and Colombia are the next most cheap nations to live in.
This finding shows the potential benefits for people looking for low-cost living choices, especially when economic hardships, political upheaval, and inflation are prevalent. In contrast, the index identifies the most costly nations to live in. Bermuda, recognised for its high cost of living, is at the top of the list, followed by Switzerland, the Cayman Islands, and the Bahamas, all of which are known for their opulent lifestyles. Acknowledging Pakistan as the cheapest place to live in raises concerns about the country's economic dynamics and affordability, capturing the attention of global economists and those considering a move.