- Numbeo’s 2023 Cost of Living Index positions Pakistan as the most affordable country globally, surpassing economic and political challenges.
- Rawalpindi emerges as Pakistan’s most economical city, with a notable cost of living index, highlighting the country’s appeal for expatriates, retirees, and investors.
- The report extends beyond Pakistan, comparing global affordability trends. While Turkiye ranks 10th in budget-friendliness, Bermuda claims the title of the world’s most expensive country.
Pakistan has emerged as the most affordable country to live in according to a report by Numbeo.com’s 2023 Cost of Living Index for Countries. Despite the ongoing economic and political conditions, Pakistan has surpassed all other countries in the global rankings as the most economical country.
This recognition highlights Pakistan’s economic landscape and underscores its potential to attract expatriates, retirees, or investors in search of a financially prudent lifestyle. It offers a glimpse into the country’s promising economic environment, making it an appealing destination for those seeking both affordability and potential investment opportunities.
Factors Used to Evaluate Most Affordable Country
Numbeo.com employs a set of six metrics to evaluate affordability, including the rent index, local purchasing power index, and cost of living index, among others. The comparison is drawn against the cost of living in New York City, serving as a benchmark for one of the most expensive cities worldwide.
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Rawalpindi, Emerges as the Most Economical City in Pakistan
The report highlights Pakistan’s prominence as the most economically advantageous country, boasting a cost of living index of 17.6. Following closely, Egypt secures second place at 21.7, with India at 22.9 and Nigeria at 23.2.
On the domestic front, Rawalpindi emerges as the most economically viable city within Pakistan, followed by Karachi and Lahore (CPI 33.22).
The World of Statistics analysis underscores Pakistan’s exceptional affordability, emphasizing that nations such as Nigeria, Libya, Syria, and Kenya exhibit relatively higher living costs. In contrast, Turkiye is positioned as the 10th most budget-friendly country globally, offering insights into the prevailing trends in global affordability.
Projected Monthly Expense for Pakistani Families
The projected monthly expenditure in Pakistan for a family of four, excluding rent, amounts to Rs283,669.4, whereas a single individual’s anticipated monthly expense, excluding rent, stands at Rs87,985.3.
It is noteworthy that the average cost of living in Pakistan is 75.2% less than in the United States, with rental expenses being 93.7% lower than those in the US.
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Bermuda Ranks as Most Expensive Country in the World
At the opposite extreme, Bermuda takes the crown for being the most costly country in terms of the cost of living, with Switzerland and the Cayman Islands following closely behind.
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