On the Time’s list of 50 cheapest countries to live Montenegro was ranked 26th. The famous American magazine compared the purchasing power and life standard of New Yorkers against the countries in which the survey was conducted.
Thus, the purchasing power in Montenegro is 44.6% lower than in New York. Rent is 88.8% cheaper than in New York, as well as groceries (68.9%) and local goods and services (61%).
“Montenegro has a local purchasing power that’s around the middle of the pack for the 50 cheapest countries. Its prices are also some of the lowest of the countries surveyed, particularly on groceries,” the Time’s article reads.
Bosnia-Herzegovina is ranked 11, Croatia 47, Slovenia 36, Albania 27, Serbia 18, Macedonia 10 and Kosovo 3.
South Africa is the country where the cost of living is the cheapest.