Lifestyle

Top 10 Cheapest Countries to Live in the World — Nigeria Ranks 4th

Published

5 months ago

2023/11/27

The cost of living in a country is the amount of money needed to cover basic expenses. The financial outlay required to satisfy the essential living requirements in a country includes housing, food, transportation, healthcare, and utilities.

It varies greatly from country to country and even from city to city within the same country.

Below are the top 10 cheapest countries to live in the world, according to Numbeo:

1. Pakistan

The cost of living in Pakistan is relatively low compared to many other countries in the world. According to Numbeo, a website that tracks cost of living data, Pakistan is ranked as the 12th cheapest country in the world to live in.

This means that the average person in Pakistan can afford to live comfortably on a relatively low income.

It has an index of 17.6.

2. Egypt

Egypt, officially the Arab Republic of Egypt, is a transcontinental country spanning the northeast corner of Africa and the Sinai Peninsula in the southwest corner of Asia.

It is the country with the largest population in the Arab world, more than 106 million. It is also the third-largest country in Africa by area.

The nation has the cheapest cost of living in Africa. It has an index of 21.7.

Egypt’s economy is based on agriculture, tourism, and oil. The country is a major producer of cotton, rice, and wheat. Tourism is also a major source of income for Egypt, with millions of tourists visiting the country each year to see its ancient monuments and beaches.

3. India

India is a vast and diverse country located in South Asia. It is the world’s seventh-largest country by area and the most populous, with over 1.4 billion people.

It has the third cheapest cost of living in the world.

4. Nigeria

Nigeria is a West African country known for its rich culture, diverse population, and booming economy. It is the most populous country in Africa, with over 200 million inhabitants, and the continent’s largest economy in terms of nominal GDP.

If you are considering moving to Nigeria, we recommend doing your research and budgeting carefully.

However, if you are willing to live a more modest lifestyle, Nigeria can be a great place to live and work.

Nigeria has a cost of living index of 23.2.

5. Libya

Libya, officially the State of Libya, is a country located in North Africa. It is bordered by the Mediterranean Sea to the north, Egypt to the east, Sudan to the southeast, Chad to the south, Niger to the southwest, and Algeria to the west.

Libya is the fourth-largest country in Africa by area, after Algeria, the Democratic Republic of the Congo, and Sudan.