Countries Ranked By Cost of Living 2020 (From Cheapest To Expensive)

A cost of living index measures the differences in the price of goods and services over periods of time or between cities, regions, and countries. Local purchasing power shows the relative purchasing power in buying goods and services in a given location for the average wage in that location.

The data presented here is indexed relative to New York City. This means that New York has an index in each category of 100. Numbers below 100 are less expensive than New York City’s costs, and numbers above 100 are more expensive than New York City. For reference, the average rent in New York City is around $3,000. Most expenses in New York City, including food and restaurants, are higher than in other parts of the United States as well.

There are four countries with a cost of living index higher than 100: the Cayman Islands, Bermuda, Switzerland, and Norway. All other countries have a cost of living index lower than New York City. Most cheapest countries to live in are from Asian counties.

This is the video of visual representation of all the country's cost of living index and local purchasing power index. You will find out which has the cheapest cost of living and which has the expensive.

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Source: worldpopulationreview.com

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