5 Cheapest Countries in the World in 2024

In this piece, we will take a look at the 5 Cheapest Countries in the World in 2024. If you want to learn about how global cost of living pressures have shifted following the coronavirus pandemic and how some firms have grown revenue, then check out 30 Cheapest Countries in the World in 2024.

5. Central African Republic

Living Costs Per Capita: $409

Central African Republic, or CAR, is one of the least densely populated countries in the world. It has an area of 622,984 square kilometers but a population of 5.5 million lends it a density of just 7.1 people per square kilometer. CAR also has one of the smallest economies in the world, which was worth $2.7 billion and lent it a GDP per capita of $539. Its underdeveloped economy is evident by the fact that food crops dominate the country. Wood is also a major CAR export.