The Diplomatic Society

 
  • Increase font size
  • Default font size
  • Decrease font size

 

South Africa is the cheapest country in the world to live and retire

22 February 2016

South Africa has been ranked the cheapest country in the world to live and retire in, according to a 2016 report which compares dollar strength to a number of global currencies.

GoBankingRates generated the rankings based on cost of living indices sourced from online pricing database Numbeo: Cost of Living. This study surveyed cost indicators for major cities in the 112 nations for which Numbeo had recent and accurate data, using the median cost indicators of the cities to generate a typical cost index for the country.

The four key affordability metrics are:

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

When South Africa's prices and cost of living is compared to those in New York, the study found:

Local purchasing power is 26.9% higher
Rent is 87.5% cheaper
Groceries are 71% cheaper
Local goods and services are 65.8% cheaper

The second cheapest country, India has a local purchasing power of 20.9% lower than New York, while rent is 95.2% cheaper, groceries are 74.4% cheaper, and local goods and services are 74.9% cheaper.

The most expensive country, on the other hand, is Bermuda.

According to the report the top 10 cheapest countries to live and retire are:

South Africa
India
Kosovo
Saudi Arabia
Kazakhstan
Zambia
Oman
Paraguay
Czech Republic
Macedonia

 

 

 


 
 
 
 
 
 
 
 
 
 

 
 
 
 
 
_________________________________________________

February/March 2020

 
 
.
_________________________________________________

Translater


 

 

 

 

 


 

 

 

 

  
 
 
 
 

 
 
                                                     
 
 
 
 
 
 
 

 
 
 
 
 
 
 
 
 
 
 
 
 

 
 
 

 
 
 
 
 
 
 
 
 
 
 
 

<|> <|> Indonesian Tourism responds to Millennials and wins Award 8 October 2019 "The challenge to the tourism world is not getting easier. It is not only the global economic slowdown, but also a change in... <|> A MEMORIAL, CORONATION, ENGAGEMENT AND A WEDDING: A ROYAL AFFAIR by Stella Sigcau 15 October 2019 September and October months were very busy in the royal calendars throughout South Africa... <|> Culture and Heritage Tourism Boost the Economy of the Mpondo Kingdom Mbotyi and Mngazi 15 October 2019 By Stella Sigcau Mpondo Kingdom is known for its cultural richness, beautiful... <|> SADC enhances cooperation with Indonesia 15 October 2019 ”Indonesia is ready to be part of the African development, especially in the southern African region” Photo: Ambassador of the Republic... <|> A rising star ready to make it internationally by Stella Sigcau 16 October 2019 Azemahle Lwanda Matebese a 13 year old, grade 8 scholar from Durban Girls High School has had a passion for dancing... <|> Korea calls for ease of doing business in SA 2 October 2019 This year marks Korea’s 4,352nd anniversary since its national foundation, and the 71st anniversary of its Armed Forces Day. In South... <|> Russia-Africa look to deepen scientific ties 14 October 2019 With a week to go until the first ever Russia-Africa Summit, Russia has emphasised the need to expand and deepen scientific ties between... <|> SA, Nigeria commit to condusive business environment 4 October 2019 The governments of South Africa and Nigeria have committed to creating a conducive business environment that will make it easier... <|>
© copyright 2011-2017| The Diplomatic Society| All Rights Reserved.