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Georgia Ranked 29 Among Cheapest Countries to Live

Georgia has been named among the 50 cheapest countries to live by famous website TIME.com.

According to writer people need to live in these countries after retirement to enjoy more with less money. As the article says to find the cheapest countries to live in, GoBankingRates ranked nations by four key affordability metrics provided by online pricing database Numbeo and lists four components:

  • Local purchasing power index: Measures the relative purchasing power of a typical salary in that country, compared to New York City. A lower purchasing power buys fewer goods, while a higher purchasing power buys more.
  • Rent index: Compares typical rental prices in the country to New York City.
  • Groceries index: Compares typical grocery prices in the country to New York City.
  • Consumer price index: Compares costs of local goods and services — including restaurants, groceries, transportation and utilities — to New York City.

Georgia is ranked 29 in the list comparing different aspects of living conditions to New York City.

  • Local purchasing power is 69.3% lower
  • Rent is 88.6% cheaper
  • Groceries are 74.4% cheaper
  • Local goods and services are 70.4% cheaper