The 5 Most and Least Expensive Countries in the World Right Now

Using the website Numbeo to compare the prices of items from all over the world, giffgaff money has found the global destinations (and no-go zones) for anyone looking to save money.

Residents of London, New York, Paris and Amsterdam, look away now. Research into the world’s cheapest and most expensive countries has found that rent in Egypt is incredibly cheap, averaging at ­just £114 a month for a one-bed apartment in the city. Although you might feel a little better to know that a city centre apartment in Hong Kong would set you back £1,562 a month.

Categories used included every day and essential purchases including cars, rent and groceries which giffgaff have used to create maps and graphs to illustrate the vast cost gap in each category.

• Iceland, which consistently has one of the highest costs of living in the world, topped three categories: food and drink, groceries, and clothing and shoes.
• Switzerland also made several top-five appearances, proving most expensive for sports and leisure.
• Tunisia, on the other hand, was consistently one of the world’s cheapest countries and was found to have the cheapest food and drink in the world.

Rent

Living in a city apartment in Hong Kong is simply not possible for most of us, with a monthly rent average of an incredible £1,562 a month. Families hoping to live in the city centre will also face mind-blowing monthly costs, with a three-bed home stretching to £3,715 a month in rent.

Residents of London, New York, Paris and Amsterdam, look away now – rent in Egypt is incredibly cheap, averaging at ­just £114 a month for a one-bed apartment in the city. Families will also save, with a three-bed suburban home costing around £170 a month to rent.

Cars

Driving the picturesque landscape of Eastern European Georgia is a cheap affair, with a Volkswagen Golf priced around £12,072 (compared to £23,638 in the UK) and a Toyota Corolla coming in at just £13,621 (compared to £ 23,724 in the UK).

Singapore, on the other hand, is a pricey place for drivers, with a nippy Volkswagen Golf setting you back an eye-watering £88,474 – a massive £76,406 more than buying the same vehicle in Georgia.

For full results from the research, click here.

(Source: giffgaff)