Armenia among world’s 20 most affordable countries: Numbeo

PanARMENIAN.Net - Armenia is among the world’s 20 countries with the lowest cost of living, according to rankings published by data company Numbeo.

The company continuously updates its data and has recently published its Cost of Living Index for Countries 2017 and Cost of Living Index 2017. The list is calculated relative to New York City, which has an index of 100. If a city or a country has a cost of living index of 130, it is 30 percent more expensive than New York; if a city has an index of 70, it is 30 percent less expensive.

With 119 countries reported, Armenia has a rating of 33.87 and is placed 19th among the least expensive countries, closely followed by Uganda and Colombia.

Azerbaijan and Georgia are included in the top 10 affordable states globally, while Turkey and Iran are positioned 32nd and 30th, respectively.

Bermuda, Switzerland and Iceland top the list of most expensive countries, while Egypt, India and Ukraine are the least expensive states worldwide.

The Cost of Living Index 2017, on the other hand, gives an insight into the cities with the highest relative cost of living in the world.

The Armenian capital city of Yerevan (with a rating of 34.60) is the 61st least expensive city among 484 others included in the research.

Baku (Azerbaijan) is 32nd, Tbilisi (Georgia) is 28th, Bursa, Izmir, Antalya, Ankara and Istanbul (Turkey) are 65th, 73th, 76th, 82nd and 109th, correspondingly, while Iran’s capital, Tehran, is placed the 110th.

The city with the highest relative cost of living in the world is Hamilton, the capital of Bermuda. Hamilton has a rating of 141.59, nearly 10 points higher than the second-most expensive city on the list, Geneva, Switzerland. New York City, the most expensive city in the U.S., checks in at 16th place, just above Honolulu and San Francisco.

For comparison, the least expensive city in the world is Thiruvananthapuram, India, with an index of just 19.83. Eight of the 10 least expensive cities are in India.

Numbeo provides user-generated data, which means the reliability of info provided cannot be completely verified.