Post by bear on Mar 30, 2023 6:35:55 GMT 7
In this article, we talk about the 25 cheapest countries in the world. To skip our in-depth analysis of how inflation affects the cost of living, go directly and see 5 Cheapest Countries in the World.
Our Methodology
Our Methodology
For our list of 25 cheapest countries in the world, we’ve defined a cheap country as one with a low cost of living. For this purpose, we looked at the Numbeo’s Cost of Living Index by Country 2023. Numbeo is a crowd-sourced global database of statistics related to the quality of life, including information on housing indicators, perceived crime rates, healthcare quality, and transportation quality. In order to ascertain the cheapest countries in the world, we only shortlisted countries which ranked in the lower two quintiles of the report.
Following that, we cross-referenced the resultant list with Economist Impact’s Global Food Security Index 2022 and averaged out the rankings to determine an average score for each country. For example, since Nigeria ranks 24th in the Numbeo’s Cost of Living Index and 7th in the Global Food Security Index, its average score for the purpose of this article is 15.5. We repeated the procedure for every country, then based on the average score, we selected the top 25 countries and ranked them from lowest to highest.
finance.yahoo.com/news/25-cheapest-countries-world-134036330.html
Following that, we cross-referenced the resultant list with Economist Impact’s Global Food Security Index 2022 and averaged out the rankings to determine an average score for each country. For example, since Nigeria ranks 24th in the Numbeo’s Cost of Living Index and 7th in the Global Food Security Index, its average score for the purpose of this article is 15.5. We repeated the procedure for every country, then based on the average score, we selected the top 25 countries and ranked them from lowest to highest.
finance.yahoo.com/news/25-cheapest-countries-world-134036330.html
