{"id":136173,"date":"2016-09-11T19:00:14","date_gmt":"2016-09-11T17:00:14","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=136173"},"modified":"2016-09-09T18:30:30","modified_gmt":"2016-09-09T16:30:30","slug":"south-africa-is-the-cheapest-country-in-the-world-for-expats","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/lifestyle\/136173\/south-africa-is-the-cheapest-country-in-the-world-for-expats\/","title":{"rendered":"South Africa is the cheapest country in the world – for expats"},"content":{"rendered":"

South Africa is the cheapest country in the world for foreigners who are looking to retire or relocate, according to the latest data from Numbeo and GoBankingRates<\/a><\/strong>.<\/p>\n

The ranking takes the data from four different indices, including a local purchasing power index, a rent index,\u00a0a groceries index, and the consumer price index to determine the countries which offer expats the most affordable cost of living.<\/p>\n

The indices are relative to the dollar, and the cost of living in New York City.<\/p>\n

South Africa emerged as the most affordable country in the world out of 112 countries. This is due in large part to the poor performance of the rand, and the relatively low cost of living when compared to NYC.<\/p>\n

On a purchasing power basis, the rand has about\u00a0double the purchasing power than the dollar in NYC (meaning the same basket of goods is half the cost in South Africa than in New York).<\/p>\n

Along with a higher local purchasing power, South Africa also offers lower prices on consumer goods and groceries, and rent costs that are typical of the 50 cheapest countries, the group said.<\/p>\n

In Cape Town, for instance, monthly expenses total just under $400 while the average rent costs are reflected by the typical price to rent a one-bedroom in Durban of around $280 a month.<\/p>\n

This is what GoBankingRates found about South Africa:<\/p>\n