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In relation to New York, the cost of living in Tirana in January 2022 was 5 percentage points cheaper than last year, according to the calculations of “Numbeo”, the largest database in the world for living costs.
Albania was ranked 99th out of 136 countries, up 10 places from January 2021 (number 1 is the most expensive).
This year’s calculations show that in Albania the cost of living is as much as 35.5% of the expenses needed to live in New York (excluding Tirana were as much as 40.5% of the New York average).
In relation to itself, Albania has not become cheaper to live in 2022, but prices in New York have risen at a faster pace than in Albania.
Numbeo calculates the cost of living anywhere in the world in relation to New York City, which means that for New York City, each index must be 100 (%). If another city has, for example, a rent index of 120, that means that on average in that city rents are 20% more expensive than in New York City. If a city has a rent index of 70, that means the average rent in that city is 30% cheaper than in New York City.
In relation to the region, Albania was the most expensive country after Montenegro, Serbia and Bosnia, while cheaper than Albania were Northern Macedonia and Kosovo (see attached graph).
Kosovo, in 134th place, is the cheapest in Europe and among the 6 cheapest in the world, with 27% of the New York average.
Numbeo estimates that the monthly costs of a family with four members in Albania are 167,392 ALL without rent.
Monthly costs for a single person are 47,720 ALL without rent.
Compared to the US, the cost of living in Albania is on average 49.05% lower, while rent in Albania is on average 79.41% lower than in the United States.
In Tirana, the cost of living in January 2022 is estimated 7.5% higher than the national average, as the estimated monthly costs for a family of four members are 179,619.35 ALL without rent and the monthly costs for a single person are 50,941.26 ALL, without rent.
Tirana is 61.05% cheaper than New York (no rent). Rent in Tirana is on average 88.73% lower than in New York.
The cost of living index (excluding rent) is a relative indicator of the prices of consumer goods, including food expenditures for restaurants, transportation and utilities.
The cost of living index does not include the cost of accommodation such as rent or mortgage. If a city has a Living Cost Index of 120, it means that Numbeo has estimated that it is 20% more expensive than New York (excluding rent).
In the world, the 10 most expensive countries are Bermuda, Switzerland, Norway, Iceland, Barbados, Jersey, Israel, Denmark, Bahamas, Singapore.
While the cheapest countries are Algeria, Colombia, India, Afghanistan, Pakistan./ Monitor
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