Discover Paraguay: The Most Economical Country to Live Comfortably in South America

2024-04-01 03:32:25

A South American country has emerged as a destination where you can live comfortably without compromising the budget, surpassing even Argentina in terms of domestic economy. In the following note we will tell you what a recent study says regarding this topic of interest for those seeking to emigrate to other territories.

WHAT IS THE SOUTH AMERICAN COUNTRY WHERE YOU CAN ECONOMICALLY LIVE COMFORTABLE?

The specialized portal Numbeo has carried out an exhaustive analysis of the costs of living in various South American countries, highlighting Paraguay as the most economical place to settle.

This evaluation considered a variety of factors, including quality of life, rental costs, goods and services, as well as local purchasing power.

Paraguay ranked ahead of nations such as Argentina and Bolivia, making it an attractive option for those looking to economize on daily expenses and live comfortably on a moderate budget.

The Numbeo study also revealed that Uruguay is positioned as the most expensive country in the region, closely followed by Chile and Venezuela.

Other South American countries included in the ranking are Brazil, Ecuador, Peru and Colombia, each with its own cost of living index and local purchasing power.

This information is invaluable for those considering immigrating to South America in search of new opportunities, as it provides a clear view of where they might find a more affordable and comfortable lifestyle.

WHAT IS THE COUNTRY THAT CONSUMES THE MOST ALCOHOL IN LATIN AMERICA?

According to WHO research, this is the ranking of countries that drink alcohol the most in Latin America:

• Argentina (8,0)
• Brazil (7.7)
• Peru (7.5)
• Chile (6,7)
• Cuba (6,0)
• Mexico (5.7)
• Uruguay (5,5)
• Colombia (4,9)
• Honduras (3,2)
• Venezuela (3,0)
• Guatemala (1,6)

It is important to mention that Argentina had a decrease in its consumption by 1.3 percentage points, in turn, Peru experienced a decrease of 0.6 compared to previous years. Likewise, said health entity mentioned that consuming alcoholic beverages “brings significant social and economic losses to individuals and society in general.”

WHICH COUNTRY HAS THE LOWEST MINIMUM WAGE IN SOUTH AMERICA?

According to Bloomberg Media, the country with the lowest remuneration in South America is Venezuela since it reaches 130 bolivars, that is, 3.61 dollars, thus placing it in last place. With respect to Peru, the established minimum wage is 1,025 soles, which is equivalent to 277 dollars, which is why it exceeds Argentina and Venezuela in terms of salaries.

On the other hand, Uruguay stands out among the first places in the ranking with a minimum wage of 570 dollars, that is, it increased 20 dollars more compared to last year. Likewise, Costa Rica and Chile are also considered to have the best remunerations in South America with 687 and 521 dollars respectively.

WHICH COUNTRY IN SOUTH AMERICA WOULD GROW THE MOST IN 2024, ACCORDING TO DESA?

The UN DESA revealed that Latin America and the Caribbean would grow less than last year due to the poor execution of its main drivers, that is, Brazil, which would only grow 1.6% during 2024, compared to 3.1% the previous year. . In turn, Mexico would increase by 2.3% this year, compared to 3.5% in 2023. Quite the opposite with Argentina’s GDP, as it would contract by -3.3% in this time, following going through a fall -2.5% last year, although at the same time the crisis would continue with a high level of inflation.

However, the opposite is calculated with Guyana, which will be the economy in the region that grows the most during this season, with a boost of 25.3%, while by 2025 it would be 12.2%, amid the success that it generated oil exploration in said country, which for now is in a territorial dispute with Venezuela over the Essequibo, an area rich in natural and mineral resources.

Finally, the other nations that would have a better projection in 2024 would be: Panama and the Dominican Republic (both with a projection of 4.2%), Paraguay (4%), Costa Rica (3.7), Honduras (3.3% ), Guatemala (3.1%), Uruguay (2.8%), Venezuela (2.7%), Ecuador (2.4%), Peru and Mexico (both with 2.3%) and Chile (2. 2).

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