By Zainab Calcuttawala
Rabat - According to new rankings compiled by American magazine the TIME on Thursday, Morocco is the 46th cheapest country to live.
The report ranked 112 countries on four key affordability matrices. The first matrix considered the country’s standing on the local purchasing power index, which compares the purchasing power of a typical salary in that country to a salary in New York. The second and third matrices compared rent costs and prices for groceries to those of New York, whereas the fourth matrix measured the price of consumer goods and services, including restaurants, utilities and transportation.
At the global level, South Africa, India, Kosovo, Saudi Arabia, Kazakhstan, Zambia, Oman, Paraguay, the Czech Republic, and Macedonia made the top ten, while Bermuda trailed at last place.
In the MENA region, Morocco ranks in seventh place, lagging behind Saudi Arabia (fourth worldwide) Oman (seventh), Algeria (25th), Tunisia (34th), Syria (37th), Egypt (43rd). Qatar, Lebanon, Kuwait are at the bottom, ranking 92nd, 96th, and 105th respectively. Eight of 22 Arab League members were not listed.
The report estimated that total monthly expenses in Rabat would come out to be USD 750, with local purchasing power 50.8 percent lower, rent is 86 percent cheaper, groceries 65.1 percent cheaper, and local good and services 60.6 percent cheaper than New York City.
Algeria’s standings in the matrices were comparable to those of Morocco. Without rent, the report said total expenses in Algiers would be around USD 400 a month, with local purchasing power 51.3 percent lower, rent 89.8 percent cheaper, groceries 66.4 percent cheaper, and local goods and services 67.8 percent cheaper than New York City.
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