News from Ukraine: Ukraine ranks as the cheapest country to live in - Expat Insider

17:06 Sep. 2, 2016

Ukraine ranks as the cheapest country to live in - Expat Insider

Bohdan Khmelnitsky Monument, 1888, and the spire of St Sofia Cathedral, Kyiv, Ukraine (Getty Images)

74% of respondents think that their disposable income is more than what they need to make a living in Ukraine

For the third year in a row, Expat Insider — one of the largest expat surveys worldwide — offers an in-depth analysis of everyday expat life in more than 60 countries across the globe.

More than 14,000 respondents representing 174 nationalities and 191 countries or territories took part and had their say on moving, living and working abroad.

With its relatively cheap cost of living, Ukraine is listed among the top countries that are beneficial to the budget of foreigners living abroad.

Read also Ukraine ranks among top 20 friendliest countries in the world - Expat Insider

Ukraine ranks first in Expat Insider's Cost of Living Index and claims the second place in the Personal Finance Index.

The research authors write: "Ukraine ranks first in the Cost of Living Index, with an impressive 45% of expats saying that the cost of living is extremely affordable, more than three times the worldwide average of 14%, making it the highest percentage for this factor across all countries. Overall, 85% quote general satisfaction with their expenses, while only 6% have something negative to say as compared to 32% globally".

According to the study, three-quarters of the respondents consider the cost of living as a potential advantage before moving to Ukraine.

As regards personal finances, Ukraine comes second following Taiwan.

Read also Ukraine ahead of CIS countries in Social Progress Index – study

The research authors write: "Only 13% of expats in Ukraine are unhappy with their financial situation, compared to 17% worldwide. However, 76% are generally satisfied with their finances, with 24% even being completely satisfied with money matters (global average: 64% and 15%, respectively). Almost three-quarters of the respondents (74%) think that their disposable income is more than what they need to make a living in Ukraine, as opposed to 48% worldwide; three in ten even state that their disposable income is rather more than enough — three times the global average of 10%. Also, just 12% think it's not sufficient, noticeably lower than the 23% of participants worldwide who feel the same."

Last year, Ecuador, Luxemburg and Mexico were the top three countries in these indices.

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