I’d never advocate leaving America permanently and setting up shop in a new country. I love my home, but I do think it’s fun to spend extend periods of time abroad. Likewise I enjoy looking at what it might cost to live abroad in places outside of the United States or Europe, that’s why I was pretty intrigued by the findings below. Also, is it just me or does it seem like TIME Magazine is ranking EVERYTHING these days? Well, in this latest round of rankings they’ve released a list of ‘the 50 cheapest countries to live‘ in, a list that piqued my curiosity.
Frankly, I could see myself living in #1 for a year or so. It has an climate (you still get all the seasons), amazing eco diversity, and if you want to spend a little extra for luxurious options that’s certainly available. Before I give away too much let’s look at the list, down below is the methodology that TIME used to formulate this ranking:
The 50 Cheapest Countries To Live
11. Bosnia and Herzegovina
9. Czech Republic
4. Saudi Arabia
1. South Africa
I’m not gonna lie, both South Africa and India sound like they’d be fun to live in for 6 months to a year. The spending power there would be amazing. Now let’s get to nuts and bolts of the rankings…
via TIME Magazine, on the methodology of these rankings:
Local purchasing power index: Measures the relative purchasing power of a typical salary in that country, compared to New York City. A lower purchasing power buys fewer goods, while a higher purchasing power buys more.
Rent index: Compares typical rental prices in the country to New York City.
Groceries index: Compares typical grocery prices in the country to New York City.
Consumer price index: Compares costs of local goods and services — including restaurants, groceries, transportation and utilities — to New York City.
So basically if you’re a person living/working in New York City your purchasing power in a place like South Africa or India is next level. The amount your dollar is worth in those countries is 26.9% higher in South Africa, and rent is 87.5% cheaper…so if you’re a New Yorker and thinking of making a movie you might want to consider South Africa.
Now if you’re wondering what makes each of those countries so attractive you can follow that link above for the individual country breakdowns.