BUSINESS
Georgia ranked 29th among 50 cheapest countries to live by US website
23 May, 2016
Georgia has been ranked  29th among 50 cheapest countries to live by an American website TIME.com providing analyses on world news, politics and science. “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 che
apest 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.


Bordering Turkey, Armenia and Azerbaijan, Georgia has a population of 4.9 million. This nation has some of the lowest consumer and grocery prices of any country. In the country’s capital, Tbilisi, the monthly expenses for a single person amount to around $360 a month. These low costs are, however, matched with low local incomes. Despite strong steel, machinery and electrical appliance industries, Georgia has a low GDP per capita of just $3,670, according to the World Bank”, the website reports.

29. Georgia

• Local purchasing power is 69.3% lower
• Rent is 88.6% cheaper
• Groceries are 74.4% cheaper
• Local goods and services are 70.4% cheaper

Georgia has been surpassed by Nepal that comes 28th and Albania on 27th place. But it outstripped Brazil that occupies 30th place and Turkey on 31th place in the list. According to the survey, the cheapest country is South Africa and the most expensive one Bermuda.

See full list on Times.com

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