Well, this might be a bit expected.
According to a post on MSN Money backed by the data from research website Numbeo, a list of the cheapest countries to live in this 2016 was created. The Philippines is part of the list, which reflects how affordable to live in the country.
As collated by Number, the 2016 global cost of living index report showed the cheapest countries to live in according to their locals. It used information such as cost of groceries, dining in a restaurant, rent, and local purchasing power. The final result compared the Consumer Price Index (CPI) of each country to New York City (NYC), which has a CPI of 100.
According to Wikipedia, CPI “measures changes in the price level of a market basket of consumer goods and services purchased by household.” Since NYC’s CPI is 100, if a country’s CPI is 50, this means that the cost of living in that country is 50% that of NYC.
MSN Money said that they omitted war zones from the list.
On the list, the Philippines sits at #17 with a current CPI of 34.73, dropping from last year’s 36.05.
The cheapest country to live in, based on the list, is India with a CPI of 24.14.
Countries in the list are:
18. South Africa
16. Bosnia and Herzegovina
15. Sri Lanka
Do you agree that the Philippines is one of the cheapest countries to live in? Why?