Thinking about relocating in 2017? If you’re looking for a super-thrifty place to live with dirt-cheap housing, low-cost groceries and wallet-friendly utility bills, look no further than Numbeo’s Cost of Living Index, which rates the affordability of each country according to the people who live there.
The Index, which is based on crowd-sourced rather than government data, takes into account a total of 50 factors from rent to cellphone bills, and compares the Consumer Price Index (CPI) of each country with New York City, which boasts a CPI of 100.
Omitting war-torn nations such as Syria, we count down the top 10 cheapest countries worldwide:
10 – Georgia
Last year’s seventh most affordable country is this year’s 10th – the cost of living has risen in Georgia of late. Still, with a CPI of 31.60 , the country is super-cheap. A one-bedroom apartment in Tbilisi is priced at a budget-friendly $151 on average and a single bus ticket is just 18 cents.
9 – Algeria
More affordable than its neighbor Morocco, Algeria has a CPI of 30.08, up from 28.55 in 2015. Utility bills are ridiculously low in the oil-rich country at just $28 a month on average, and a one-bedroom property in the capital Algiers costs only $148 a month.
8 – Azerbaijan
The former Soviet republic is a cheap place to live with a CPI of 29.10. In Baku, the country’s capital, you can rent a one-bedroom apartment for just $136 a month and snap up a single metro ticket for the bargain price of 11 cents – a monthly travel pass costs just $6.72.
7 – Tunisia
With a CPI of only 28.97, the cost of living in Tunisia is the lowest in Africa. Dining out is ultra-economical in the capital Tunis – a basic meal costs just $2.16 on average and rental costs average $145 per month for a one-bedroom property.
6 – Nepal
Now the sixth cheapest place to live in the world, Nepal was the third most affordable in 2015. If you’re thinking about relocating to Kathmandu, you won’t need a lot of cash to get by. You can dine out for $1.66 a head and rent a one-bedroom apartment for just $76 a month.
5 – Kazakhstan
Last year, Kazakhstan was the 49th most affordable country in the world – it’s now the fifth cheapest. Although food prices are rising, other items and services are becoming cheaper. For instance, a single bus journey costs only 27 cents.
4 – Ukraine
With a CPI of 26.95, the cost of living in the Ukraine is a massive 63.65% lower than the US and more impressively, rental prices in the capital Kiev are 87% lower than New York City. To give you an idea about how cheap it really is, a one-way metro journey costs just 8 cents and a McDonald’s Big Mac costs only $1.55, the cheapest in the world after Venezuela.
3 – Moldova
The most economical country to live in Europe, Moldova is extremely affordable with a CPI of 26.90. Everything from groceries to transportation are cheap in the former Soviet republic, and a one-bedroom property in the capital Chisinau averages just $167 a month.
2 – Pakistan
Its CPI currently at 26.33, Pakistan has become more affordable in the past year – in 2015 the country was the fourth most affordable on the planet. Even in Pakistan’s largest city Karachi, consumer prices and rents are cheap – a one-bedroom apartment will set you back just $100 a month on average.
1 – India
The world’s most affordable country, India boasts a very low CPI of 24.02, which can only be a good thing given 44% of the population live on less than a dollar a day. Rental prices for a one-bedroom property average just $104 per month and a restaurant meal costs around $2.21.