RIO DE JANEIRO, BRAZIL – For those who have dollars or other hard currencies, Argentina is among the 5 cheapest countries in the world. This is the result of a study carried out by money.co.uk, which analyzes the daily cost of living and the average income among the different countries.
Taking into account the cost of living – including expenses such as food, transportation or utilities – Money calculates that spending 1,000 pounds sterling – £1,000, equivalent to US$1,330 – will take 94 days in Argentina.
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The study points out that the daily cost of living in the country is $1,438 pesos, equivalent to £10.64, taking the official exchange rate for the calculation of 133 peso per pound sterling.
If it is taken that eventually those foreign currencies end up in the parallel market a person with $1,330 dollars could live more than 6 months (188 days) about 266,000 pesos per person.
Given that the gap between the official exchange rate and alternative dollars is close to 100%, the estimate is undervalued for those who settle through the unregulated markets, where Argentina is even cheaper.
According to Money, the cheapest country in the world is Colombia, where those $1,330 or £1,000 will cover the cost of living for 109 days, followed by Turkey, Kazakhstan and Belarus.
At the other extreme, the most expensive country in the world is Switzerland, where £1,000 pounds is enough for only 27 days. It is followed, in decreasing order, by Norway, Liechtenstein, Iceland, Barbados, Japan, Bahamas, Luxembourg, Denmark, Hong Kong and Israel. It is difficult to find Argentine tourists in these destinations.
But it is in these nations where income can be obtained the fastest. The country with the highest per capita income in the world is Liechtenstein, equivalent to £85,589 or $113,833 dollars. Thus, it takes only 4 days to earn £1,000. It is followed by Switzerland, Luxembourg, Iceland and Norway (5 working days),
The flip side is Colombia, where 62 days are required to earn £1,000. Argentina is in seventh place, with 40 days to reach this figure, preceded by Belarus, Serbia, Montenegro, Mexico, Kazakhstan and Turkey.