The Inca country occupies the 49th place, according to information from GoBankingRates.
GoBankingRates ranked the nations according to four sections: local purchasing power, rental cost, grocery prices, and goods and services prices. Then, they compared these to New York metrics to know which are the cheapest places in the world to live in.
El Comercio indicated that while rent and consumer goods get appreciated in developed countries, nations with strengthened economies are considered to have a cheaper life cost.
According to GoBankingRates, “among the fifty cheapest countries to live in, it was found that the cost of rent is at least 70% cheaper than that registered in the aforementioned US city.”, they explained in El Comercio. “Meanwhile, the price of food and consumer goods are 40% and 30% cheaper, respectively.”, they continue.
Peru is among these fifty cheapest countries to live in, occupying the 49th place. Last year, it occupied the 47th place with a local purchasing power 58.8% lower; 82.77% of cheaper rent; 63.33 percent of cheaper groceries; and 60.53% of cheaper local goods and services, according to information from the GoBankingRates website.
This ranking, done by GoBankingRates, is predominated by Latin American and Oriental countries. This company investigates several rankings, such as “the most and least expensive cat breeds in the world; which is the biggest bank in every state of the United States; and similar information that you can find on their webpage.