Mexico's Netflix subscriptions are the cheapest in the world

It turns out that the cheapest place to purchase a Netflix subscription is south of the border in Mexico. The current price of the video streaming service's most basic package in the country will set you back $7.28 there, or the equivalent of 109 pesos.

That price is only for the most basic package, allowing you to stream shows on only one device at a time, but the country is actually the cheapest for all three packages that the streaming service offers. It's not enough of a difference to consider moving to a different country over, but it's still a few dollars less.

Monthly Netflix Package Prices in Canadian Dollars

Here in Canada, we pay $8.99 for the most basic service, $10.99 for standard and $13.99 for premium, which are some of the cheapest rates in the world when compared in CAD. Australia, for instance, is one of only a few countries where it costs less, ringing in at $8.72 for the basic service, but still costing more for the higher tiers.

Meanwhile Switzerland pays the most for Netflix in the world, costing $15.87 to stream on one device or $21.21 to stream on two, before topping out at $26.55 for the premium four screen bundle. People in the country are paying nearly 77 percent more than us Canadians for the same service.

Part of the reason why Netflix's subscription is so cheap in countries like Mexico and Japan is due to the competition that was already present when they entered the market. US-based streaming service Hulu was launched in Japan before Netflix did and in Mexico, both Amazon and Walmart have recently expanded their video-on-demand services here.

The other reasoning for the significant price difference is things like the value-added tax being introduced throughout parts of Europe that brings the price up even more. New Zealand has recently introduced a 15 percent tax on top of all digital services supplied by offshore companies, but thankfully the Canadian government has said that this sort of tax is not under consideration.