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10 most cheapest countries of the world

Rounding out the top 10 of the cheapest countries to live in or retire are as follow;

  1. Macedonia

Local buying power is 49.7% lower

Rent is 94% cheaper

Groceries are 73.3% cheaper

Local goods and services are 68.6% cheaper

Macedonia is one of the lowermost rents of the 50 cheapest countries. Groceries and consumer goods are also cheap, which keep costs reasonable, even with an ordinary local buying power.

  1. Czech Republic

Local buying power is 8.4% lower

Rent is 87.8% cheaper

Groceries are 63% cheaper

Local goods and services are 57.7% cheaper

The Czech Republic lands at No. 9 with a steadiness between lower costs and a higher local buying power. Having a higher GDP per capita (around $19,500), according to the World Bank, this means that residents can buy more with their incomes.

  1. Paraguay

Local buying power is 49% lower

Rent is 91.7% cheaper

Groceries are 75.3% cheaper

Local goods and services are 69.7% cheaper

The country invests with low budgets across the board on rent, grocery and consumer goods. In the nation’s capital, Asunción, the monthly expense for a single person is only around $360 per month, and the rent for a single-bedroom flat rates $250, approximately.

  1. Oman

Local buying power is 57.5% higher

Rent is 71.7% cheaper

Groceries are 48.9% cheaper

Local goods and services are 44.4% cheaper

Oman is rich in oil and gas resources just like its Middle Eastern neighbours; this makes it a prosperous nation that has the highest local buying  power in the top 10 list.

  1. Zambia

Local buying power is 50% higher

Rent is 68.1% cheaper

Groceries are 59.1% cheaper

Local goods and services are 44.6% cheaper

This African nation landed at No. 6 amid the economical countries with its high local buying powers. For those considering moving to a cheaper country, well, Zambia would be the best choice to make, offering both lower costs and local incomes high enough to help cover necessary expenses.

  1. Kazakhstan

Local buying power is 38.2% lower

Rent is 88.9% cheaper

Groceries are 74.8% cheaper

Local goods and services are 68.7% cheaper

Kazakhstan’s cheap living is the most seeming in its costs for groceries and consumer goods; this makes it lower than most of the 10 cheapest nations.

  1. Saudi Arabia

Local buying power is 33.6% higher

Rent is 85.9% cheaper

Groceries are 56.4% cheaper

Local goods and services are 49.4% cheaper

Middle Eastern countries are fairly wealthy, due to its strong oil industries, petroleum refining and petrochemicals. According to the World Bank, Saudi Arabia has a higher GDP per capita of $24,161/-. This directs Saudi Arabia to becoming a local buying power that even outruns New York City.

  1. Kosovo

Local buying power is 33.8% lower

Rent is 91.5% lower

Groceries are 75.8% cheaper

Local goods and services are 72.6% cheaper

Kosovo has the best scores on consumer goods and groceries when it comes to costs, where the expenses for a single person are just $324 per month.

  1. India

Local buying power is 20.9% lower

Rent is 95.2% cheaper

Groceries are 74.4% cheaper

Local goods and services are 74.9% cheaper

Living in India can be cheap and economical; having the second-lowest rent index of the 10 cheapest countries, it has some of the lowest prices for consumer goods and groceries.

  1. South Africa

Local buying power is 26.9% higher

Rent is 87.5% cheaper

Groceries are 71% cheaper

Local goods and services are 65.8% cheaper

Hence, South Africa is the cheapest country to live or retire. It is also the world’s largest manufacturer of platinum, gold and chromium, which goes far to enrich the country and its economy. This eventually, resulted in a local buying power that significantly got higher than New Yorkers face.

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