Cheapest Countries To Live In 2021

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The cost of living is the money needed to sustain a certain comfort level in a location. The cost of living covers basics like housing, groceries, taxes, and healthcare. Some countries have a very high cost of living, particularly in areas surrounding large cities. For example, in the United States, cities like New York and San Francisco have a very high cost of living. On the flip side, some nations have a very low cost of living, so many people are packing their belongings to move to these countries.

Several different organizations have used statistics to determine the cheapest countries to live in. One of these companies is GoBankingRates. This company uses four metrics to determine which countries are the most affordable. The metrics used include:

  • Rent index
  • Local purchasing power index
  • Consumer price index
  • Groceries index

The information compiled is compared to the cost of living in New York City, one of the most expensive cities in the world. According to this data, Pakistan is the cheapest country to live in, with a cost of living index of 18.58. This is followed by Afghanistan (24.51), India (25.14), and Syria (25.31).

On the opposite end, 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.

Cheapest Countries To Live In 2021

Country Cost of Living Index Population 2021
Pakistan18.58225,199,937
Afghanistan24.5139,835,428
India25.141,393,409,038
Syria25.3118,275,702
Tunisia25.4311,935,766
Uzbekistan25.7933,935,763
Venezuela27.2228,704,954
Georgia27.783,979,765
Kyrgyzstan28.136,628,356
Egypt29.09104,258,327
Azerbaijan29.8110,223,342
Kazakhstan30.0618,994,962
Colombia30.2551,265,844
Algeria30.5444,616,624
Nepal30.6929,674,920
Ukraine30.9443,466,819
Uganda31.7247,123,531
Nigeria31.75211,400,708
Macedonia32.272,082,658
Bangladesh32.62166,303,498
Moldova32.634,024,019
Armenia32.72,968,127
Sri Lanka32.9521,497,310
Belarus33.029,442,862
Paraguay33.327,219,638
Rwanda34.0113,276,513
Bolivia34.0711,832,940
Mexico34.29130,262,216
Mongolia34.433,329,289
Morocco34.5937,344,795
Tanzania35.0761,498,437
Zambia35.4918,920,651
Turkey35.6685,042,738
Romania36.0719,127,774
Bosnia And Herzegovina36.193,263,466
Serbia36.38,697,550
Albania36.632,872,933
Indonesia36.86276,361,783
Philippines36.97111,046,913
Bulgaria37.376,896,663
Vietnam38.1798,168,833
Russia38.59145,912,025
Argentina38.7245,605,826
Peru38.8233,359,418
Kenya39.2654,985,698
Botswana39.372,397,241
Montenegro39.37628,053
Poland39.3837,797,005
Malaysia39.4632,776,194
Suriname39.58591,800
Iraq39.8441,179,350
China40.541,444,216,107
Iran41.3985,028,759
Hungary41.79,634,164
Cuba41.7311,317,505
Ecuador41.9917,888,475
Honduras42.3410,062,991
Brazil42.64213,993,437
Guatemala43.0418,249,860
Ghana43.1131,732,129
South Africa43.7460,041,994
Namibia44.12,587,344
Brunei44.33441,532
Mozambique44.6532,163,047
Slovakia44.655,460,721
Lithuania45.412,689,862
Czech Republic45.710,724,555
Nicaragua45.876,702,385
Dominican Republic46.1710,953,703
El Salvador47.696,518,499
Cambodia47.8216,946,438
Myanmar48.0654,806,012
Oman48.555,223,375
Saudi Arabia48.7135,340,683
Belize49.06404,914
Chile49.1519,212,361
Latvia49.551,866,942
Fiji49.67902,906
Thailand49.8669,950,850
Croatia50.054,081,651
Kuwait50.334,328,550
Portugal50.7710,167,925
Estonia50.991,325,185
Mauritius51.61,273,433
Panama52.984,381,579
Palestine52.995,222,748
Slovenia54.172,078,724
Trinidad And Tobago54.171,403,375
Zimbabwe54.7215,092,171
Spain54.7446,745,216
Uruguay54.913,485,151
Costa Rica55.095,139,052
Jordan55.3610,269,021
Ethiopia55.52117,876,227
Jamaica56.442,973,463
Greece56.7210,370,744
Bahrain58.361,748,296
Cyprus58.391,215,584
Taiwan58.7723,855,010
Lebanon59.746,769,146
Libya61.256,958,532
Qatar62.222,930,528
United Arab Emirates63.589,991,089
United Kingdom65.3368,207,116
Malta65.43442,784
Germany66.5783,900,473
Puerto Rico66.812,828,255
Canada68.1638,067,903
Italy69.0260,367,477
Sweden70.1110,160,169
United States70.95332,915,073
Austria72.159,043,070
Finland72.185,548,360
Seychelles72.7598,908
New Zealand73.014,860,643
Belgium73.1311,632,326
Australia73.3925,788,215
France74.6265,426,179
South Korea75.1651,305,186
Netherlands75.2217,173,099
Ireland76.334,982,907
Hong Kong79.217,552,810
Israel79.548,789,774
Singapore80.235,896,686
Barbados80.32287,711
Denmark83.885,813,298
Luxembourg84.68634,814
Japan85.52126,050,804
Bahamas85.96396,913
Iceland97.22343,353
United States Virgin Islands97.23104,226
Norway104.495,465,630
Switzerland122.678,715,494
Bermuda138.2262,090
Cayman Islands141.6466,497

Cheapest Countries To Live In 2021