Comparative Overview of the Quality of Life in Serbia and North Macedonia Analyzed According to Numbeo Database

Abstract

In economic theory and practice, the term standard of living has emerged in recent decades. It was created as a suitable response to problems related to people’s lives, regional inequalities in the level of development and served as an acceptable concept for more complex valorization of development potentials, especially in rural areas. The subject of the research is a comparative analysis of the quality of life in Serbia and Northern Macedonia according to Numbeo database. The aim of this paper is to point out the importance of living standards from both economic and sociological aspects, as well as to review the position of Serbia and Northern Macedonia in relation to other countries in the region based on the analysis of collected data and research. The reason for the comparative presentation of Serbia and Northern Macedonia is that the quality of life is at an approximate level. The salary of employees in education in these countries represents an average income that is sufficient for a satisfactory quality of life. The standard of living of a country depends on a number of factors such as political factors, economic factors, demographic, environmental and cultural factors.