Ethiopia Ranked 85th Among 112 Countries on Cheapest Countries to Live Index of GO Banking Rates



Ethiopia Ranked 85th Among 112 Countries on Cheapest Countries to Live Index of GO Banking Rates

With the American dollar strong compared to other currencies, moving or retiring abroad could be a smart strategy to stretch your retirement savings further.  To find the cheapest countries to live in, GoBankingRates ranked nations by four key affordability metrics provided by online pricing database Numbeo: Local purchasing power index: Measures the relative purchasing power of a typical salary in that country, compared to New York City. A lower purchasing power buys fewer goods, while a higher purchasing power buys more. Rent index: Compares typical rental prices in the country to New York City.    Groceries index: Compares typical grocery prices in the country to New York City. Consumer price index: Compares costs of local goods and services — including restaurants, groceries, transportation and utilities — to New York City.

Even among the 50 cheapest countries, rent is at least 70% cheaper than rent in New York City, groceries are at least 40% cheaper, and consumer goods and services cost less by 30% or more. Local purchasing power does vary greatly among these cheap countries, however.

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