Argentina’s economy has been facing significant challenges in terms of inflation and the exchange rate gap, which have had a direct impact on the country’s cost of living.
According to the global ranking prepared by “Numbeo,” Argentina ranked 118th out of 140 countries studied in terms of affordability to live.
“A typical family in Argentina has monthly expenses of around $1,527, without considering rental expenses,” according to the data provided by the platform.
On the other hand, a person who lives alone has approximate expenses of $433 per month, excluding rental costs. These values reveal a notable difference compared to the cost of living in the United States, with Argentina being 57% cheaper on average.
The results of the study position Argentina as the third-cheapest country to live in Latin America. The second place is occupied by Paraguay, while Colombia leads the ranking with the lowest cost of living in the region.
For example, a one-bedroom apartment in downtown Colombia costs about $298. In Paraguay, that price amounts to $370, while in Argentina, the same type of property costs $497.
This data illustrates how Argentina stands out as an attractive destination for those looking to reduce their expenses and maintain an affordable standard of living compared to other Latin American countries.
In conclusion, persistent inflation and the exchange rate gap have led Argentina to position itself as one of the cheapest countries to live in Latin America.
Although its placement in Numbeo’s global ranking could indicate certain economic challenges, affordable living costs offer an opportunity for those looking for a cheaper option without sacrificing quality of life.
However, it is important to note that the economic situation can change over time, and this data reflects a snapshot of the present.
