So while locals are complaining about the state of the economy and weak rand the rest of the world is considering moving here because South Africa has been ranked as the cheapest country to live and retire in. The study by GoBankingRates and measured four metrics to determine cost of living. They took into account the local purchasing power index, the rent index, the groceries index and consumer price index and compared it to New York City. Out of the 112 countries in the report South Africa is the cheapest country to live or retire.
SA was followed by India, Kosovo, Saudi Arabia, Kazakhstan, Zambia, Oman, Paraguay, Czech Republic and Macedonia.
According to the report, living in South Africa compared to NYC:
Local purchasing power is 26.9% higher
Rent is 87.5% cheaper
Groceries are 71% cheaper
Local goods and services are 65.8% cheaper
Now you know.
More on why SA was ranked first HERE.