Ukraine is one of the most affordable countries in the world in terms of living costs, a new ranking suggests.
Ukraine ranked 107th out of 132 world’s most expensive countries in 2020, according to the latest report by the Sydney-based Ceoworld magazine. Switzerland and Norway were considered the most expensive countries, while Ukraine was sandwiched between Rwanda and Argentina.
For the ranking, the Australian publication analyzed five indexes: cost of living, rent, groceries, eating out, and purchasing power.
It turned out that it’s 66% cheaper to live in Ukraine than, for example, in New York City, one of the most expensive cities in the world, according to the report. Living in neighboring Belarus, Poland or even in Iran and Iraq – both struggling from military conflicts – will also require more money compared to Ukraine.
Post-Soviet countries such as Latvia (58th place), Lithuania (66th) and Estonia (50th), have much higher price tags than Ukraine, too.
The cheapest countries are India, Afghanistan, and Pakistan. For example, living in Pakistan takes only one-fifth of the amount of money one needs to afford basic needs in New York City. However, those living in New York will have to spend 22.4% more if they decide to move to Switzerland.
