5 Countries with the Lowest Cost of Living in the World

Some countries in Asia, Africa, and Europe are known for having a very affordable cost of living. These countries offer lower prices for food, transportation, and accommodation compared to developed countries.

Overall, the cost of living tends to fluctuate and be unstable every year, including in Indonesia. In the country, the cost of living continues to rise, causing people to face financial difficulties in meeting their daily needs.

The cost of living is one of the main factors in choosing where to live in a country. However, there are various other aspects to consider in order to achieve an optimal level of living comfort. This is important because countries that offer a low cost of living do not necessarily guarantee a better quality of life.

According to information obtained from the Numbeo website, the countries with the lowest cost of living in the world are mostly from Asia and Africa.

Numbeo has released data comparing the cost of living in a number of countries. This analysis covers various aspects, such as spending on food, restaurants, transportation, and housing. All these costs are then compared with New York as the main reference, resulting in a cost of living index score.

New York is often referenced with its cost of living set at 100%. If an area has an index score of 120, then the cost of living in that area is estimated to be 20% higher than the cost of living in New York.

Where are the locations with the lowest cost of living in the world?

1. Pakistan

Pakistan now has the lowest cost of living in the world, with a cost of living index score of 17.8. This figure shows that the cost of living in the country is only about 20% of what it would cost in New York. For a single individual, the cost of living in Pakistan is estimated to be around 97,341 Rupees.

2. Libia

Libya ranks as the country with the lowest cost of living, with a cost of living index score of 18.6. On average, each individual in Libya spends around 1,840 LD to make ends meet.

3. Mesir

Egypt is known as one of the countries with the lowest cost of living for students, with a cost of living index score of 19. On average, an individual living in Egypt spends around EGP 10,726.33 every month, not including expenses for rent.

4. India

India, located in South Asia, is the country with the lowest cost of living after the previous country. As the country with the largest population in the world, India recorded a cost of living index score of 19.5. To live a comfortable life in the country, one needs to spend around Rs 29,003.

5. Afganistan

Afghanistan has one of the lowest costs of living in the world, with an index score of 19.9. Each individual in the country spends around AFN 14,938 per month on living expenses, not including rent.