American magazine Time made a list of the cheapest countries for living in the world, and BiH found itself on the list as well.
Agency GoBankingRates made the list on the basis of several parameters, which were: index of local purchasing power, the cost of rent, the price of groceries and consumer price index.
Results were compared with the standard of living and prices in the city of New York.
BiH occupied the 11th place at this list. According to the Time, our country has a decent purchasing power, low cost of rents, groceries and consumer price index. The example was Sarajevo, where the total monthly costs, including rent and other costs, are between 550 and 650 EUR.
When it comes to our neighbors, Montenegro (which took 26th place on the list) has low prices of groceries, while the purchasing power is somewhere in the middle of the list of the cheapest countries for a living. In comparison to New York, the purchasing power is lower by 44.6 %, the rent is cheaper by 88.8 %, groceries by 68.9 %, while the consumer price index is lower by 61 %.
Serbia took the 18th place on the list. In comparison to other 49 countries, the cost of rent is the third lowest, while an average price of renting a one-bedroom apartment for the price of about 155 EUR in Novi Sad. Prices of food are cheaper than in New York by 73.2 % and the consumer price index is lower by 66.8 %, while the purchasing power is lower by 52.4 %.
The first 10 countries on the list of the cheapest countries for life published by the Time are following: South Africa, India, Kosovo, Saudi Arabia, Kazakhstan, Zambia, Oman, Paraguay, Czech Republic and Macedonia.