India : Cheapest place to live in the world



According to the expat website movehub India is the cheapest country in the world which it has shown through an infographic (shown below) created by the data collected by Numbeo.

I was amused to see that the cost of living in our country is lesser than the cost of living in our immediate neighbours like Myanmar, SriLanka, Bangladesh, Pakistan and even Nepal. Nepal is second last in the list of 119 countries and India is the last one. But there is one more interesting and very positive point that I noticed about India in that list from Numbeo. The last column mentioned the local purchasing power index(PPI). And it was 65.79 (for India), way more than any of the above mentioned neighbours. And to the extent of my surprise the purchasing power index value for china is 48.64, country which has got much greater position in this list.

This give an idea that we are the cheapest in cost of living but we have more purchasing power than most of the countries mentioned in that list. We are the lowest according to consumer price index(CPI) which is 26.27 for us (India). To make this point more clear lets take the example of our nearest developed neighbour Singapore. Its CPI is 93.61 (almost 3.6 times than that of India) and PPI is 75.40 (1.15 times as compared to India). Singapore's cost of living is 3.6 times of India but its local purchasing power is only 1.15 times of India. Which puts India in much better position. Well, India is at 39th position according to purchasing power index (PPI).  

The list has taken cost of food, transport, restaurants, utilities into account. Housing, Education, Clothing and other such essentials were not considered. CPI in the list is relative to the cost of living compared to New York.

An interesting map from MoveHub reveals living costs around the world.

Global Living Costs Map

 

Comments

Popular Posts