These countries are the most affordable in the world

If you ever thought about living abroad but you are worried about the high costs, a recent analysis found which are the most affordable in the world.  New York is definitely a top destination for many considering a new city to live in but the rents and general cost of living is also high.

The analysis from GoBankingRates analysed available pricing figures from the crowdsourced data site Numbeo to estimate which countries are the cheapest to live in. After taking into account the cost of rent, groceries as well as local goods and services, the result are compared to prices in New York.

These are the four key affordability metrics that were considered to find out the cheapest places to live in.

1. Local purchasing power index: Measures the relative purchasing power of a typical salary in the country. A lower purchasing power buys fewer goods, while a higher purchasing power buys more.
2. Rent index: Includes typical home rental prices in the country.
3. Groceries index: Includes typical grocery prices in the country.
4. Consumer price index: Includes costs of local goods and services, such as restaurants, transportation and utilities.

From Egypt to Belize these beautiful countries are the most affordable in the world.

10. Macedonia

If you want to live in Europen, Macedonia is most effective cost choice. The Balkan country used to be part of Yugoslavia and is located just north of Greece. With fewer tourists than its more famous neighbour,  Macedonia offers natural views,  an eclectic cuisine and lively nightlife. The rent is 94% cheaper than New York, while groceries will cost you 75% less and local goods and services are 69% cheaper than in The Big Apple.

9. South Africa

With a population of over 50 million people, South Africa is one of the most developed economies on the continent. Its capital Johannesburg has been praised for the extensive revitalization that has undergone over the last several years. Regarding costs against NYC, rent is 84% cheaper, groceries 64% less, local goods and services are at half of the price.

8. Tunisia

Tunisia is famous for itsMediterranean beach and islands like Djerba which attract numerous tourists. Compared to New York, you would pay a lower rent by 95%, while groceries, goods and services are 72% and 71% cheaper.

7.  Pakistan

Pakistan is located west of India and south of Afghanistan. It has a population of nearly 185 million people. Its proximity to the Himalayan mountain range and the presence of many multinationals such as IBM and Unilever make it a good choice if you looking to move abroad. Rent is 95% cheaper than in New York, while groceries and services are 75%, respectively 73% lower.

6. Egypt

Egypt is the perfect destination for archaeology fans and tourists, but it also a very affordable country to live in. Rent is 95% lower than in New York, while the price of groceries is 85%  cheaper. Local services and goods are 78% cheaper.

5. Mexico

The proximity to the United States makes Mexico the perfect choice for many Americans who are looking to move abroad. Along with the warm climate, the low cost of living is another argument for its over one million expats. Compared to New Yor, rents are 92% cheaper, groceries and services are also more affordable being 72%, respectively 70% cheaper.

4.  Libya

Lybia has abundant resources of oil but it is not a safe place to live for expats. However, the country is very affordable with rent 81% cheaper than in New York, while groceries and local services are at half the price.

3. Belize

Belize is an outdoor paradise due to its beautiful beaches and sunny weather. The country is also very affordable for expats. Rents are 89% cheaper, groceries 51% less, while local goods and services are 44% less than in New York.

2. Saudi Arabia

Saudi Arabia is one of the most important and influential nations of the Arab world. The country is prospering thanks to its oil industry and is also very affordable for expats. Rents are  86% cheaper, groceries are at half price, as well as local goods and services. English-speaking teachers are in demand and they can get very generous salaries.

1. India

The number one spot regarding affordability is occupied by India. In the 70 years since it gained independence, India has made enormous strides in almost every area. Compared to New York rents are 93% cheaper, groceries by 73%, and local goods and services are less expensive by 75%.