ISLAMABAD: Pakistan has been ranked the most economical country to live in with a cost of living index 18.58 while Afghanistan 24.51; India 25.14; and Syria 25.31 trail respectively, ARY News reported on Sunday.
As per the report on the cost of living index compiled by GoBankingRates Company, Pakistan is termed the cheapest country to live in.
Several organisations in the past and at present as well, have used indicators and a bunch of statistics to ascertain the countries based on their affordability for those living and earning there.
One of these companies is GoBankingRates and the company uses four metrics to determine which countries are the most affordable.
The indicators used in the study include inflationary matrices including, rent index, local purchasing power index, consumer price index, groceries index and the information compiled, compared to the cost of living in New York City, one of the most expensive cities in the world.
On the contrary, Cayman Islands with 141.64, Bermuda with 138.22, Switzerland with 122.67, and Norway with 104.49, are said to be the most expensive countries globally. All four of these countries have costs of living higher than New York City.
The cost of living gauges its index with the money for sustenance with a certain level of comfort in a region and covers basics such as housing, groceries, taxes, and healthcare.
Some countries have a very high cost of living, particularly in the areas surrounding large cities, as in the United States, cities such as New York and San Francisco have a very high cost of living.