Ghana has secured a spot in the top 10 African countries with a lower cost of living, as reported by Numbeo. Despite economic challenges, including high inflation, the West African nation holds the seventh position in the African rankings. On a global scale, Ghana is placed 135th using the same criteria.
Africa benefits from its close proximity to some of the Earth’s most crucial natural resources, giving it an edge in terms of financial assets. These resources are subsequently allocated to enhance the well-being of its inhabitants. While this hasn’t been consistent throughout history, certain nations on the continent serve as exemplary instances.
The low cost of living has a substantial impact on the broader economic landscape. The attractiveness of lower living expenses serves as a magnet for foreign investment, constituting a key advantage. Businesses discover a more economically viable environment for launching operations, as they can significantly reduce expenses related to labor, resources, and overall living costs.
