According to the 2023 Cost of Living Index for Countries report by Numbeo.com, Pakistan has secured the top spot as the most economical country to live in.
The detailed list covers 140 countries, presenting information on the Cost of Living Index for each, including city-specific data. Numbeo.com employs six metrics to assess affordability, such as the rent index, local purchasing power index, and cost of living index, among others. The comparison is made against the cost of living in New York City, a benchmark for one of the most expensive cities globally.
The report indicates that Pakistan leads as the most cost-effective country, with a cost of living index at 17.6. Following Pakistan, Egypt ranks at 21.7, India at 22.9, and Nigeria at 23.2. Internally, Rawalpindi emerges as the most affordable city within Pakistan, trailed by Karachi and Lahore (CPI 33.22).
For a family of four, the estimated monthly cost in Pakistan, excluding rent, is Rs283,669.4, while a single person’s estimated monthly costs without rent are Rs87,985.3. Notably, the cost of living in Pakistan is, on average, 75.2% lower than in the United States, with rents being 93.7% lower than in the US.
On the other end of the spectrum, Bermuda claims the title of the most expensive country in terms of cost of living, followed by Switzerland and the Cayman Islands.
Launched in April 2009, Numbeo.com boasts the world’s largest database of user-contributed data on cities and countries, covering aspects such as cost of living, housing indicators, healthcare, traffic, crime, and pollution. The website emphasizes that its information is not influenced by any governmental organization.
