Pakistan is named the most affordable country in the world to live in as per a published report ‘Most Expensive Countries in the World to Live In 2020’ by the CEOWORLD magazine. As per the report, Switzerland is the most expensive country in the world to live in.
Norway has been ranked second place followed by Iceland, Japan, Denmark, Bahamas, Luxembourg, Israel, Singapore, and South Korea as the most expensive countries in the world to live in 2020.
In the top 20 list of most expensive countries in the world, 9 countries are from Europe, 5 are from Asia, 2 are Caribbean, 2 are from Oceania and 1 each from North America and Africa.
Australia and New Zealand have been placed at 16th and 17th positions by the CEOWORLD magazine. Canada, United Kingdom, Germany are placed at 24th, 27th, and 29th place respectively.
Pakistan has been declared the most affordable country in the world. The 10 most affordable countries in the world are Georgia, Kosovo, Venezuela, Tunisia, Kyrgyzstan, Uzbekistan, Syria, India, Afghanistan, and Pakistan.
In the study, the data has been collected based on five criteria i.e. cost of living, rent, groceries, eating out, and purchasing power.
Then each country was assigned an average score and then compared with New York which was taken as a benchmark with a score of 100 for the entire list.
Countries that scored higher than New York’s score were named expensive countries while those that scored lower than New York were named affordable. For example, Switzerland’s score was 122.4 which meant that it was expensive than New York while Pakistan’s score was 21.98 which meant it was affordable.