South Africa is the 19th cheapest country in the world for foreigners trading in dollars to visit or settle down to live in.
This is according to Numbeo’s cost of living survey, which takes into account the price of around 50 items, including accommodation, food and drink, clothing, taxi fares, and internet and phone bills.
The index is based on direct pricing comparison where prices in New York are the base (100). Because the data is used to show direct comparisons, the cost of living is not used to represent the cost of living in purchasing power parity terms. The data is thus more valuable to expats or travellers.
New data from MoveHub, an international relocations expert, revealed that South Africa is one of the world’s biggest gainers of professional migrants, ranked 14th overall. One of the biggest pull factors for South Africa is how cheap the cost of living is in the country, relative to other countries.
With mature financial markets and developed metropolitan areas, the country offers foreigners a high standard of living at half the cost of a city like New York.
South Africa has featured on many “cheapest countries to live in” lists, with some even ranking the country as the cheapest in the world.
According to the data, these are the 20 cheapest and 20 most expensive countries in the world.
20 most expensive countries
The 20 cheapest countries
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Source: Business Tech