Living on a Budget? Explore the Cheapest Places to Live in the World
Have you ever dreamed of uprooting your life and starting over in a new city? How about a new country? Although most of us daydream about doing this, the best part is that it's entirely possible. The idea of quitting your job might keep you tied to a place where the rent is high, but more and more people are working remotely and able to live in the country of their wildest dreams. Not only that, but some places are so budget-friendly that it may be possible to live off your savings for a while. The following are some of the most affordable places in the world that you may want to consider.
01 Indonesia
Have you ever thought about living in Indonesia? You should.
Bali has a reputation as one of the most beautiful islands in the world, and rightfully so. With stunning tropical beaches and friendly locals that have a laid-back way of life, it's hard to find anywhere quite like Bali or Indonesia in general, especially when you can live there on a modest $1,600 a month on average.
02 Portugal
Portugal provides its residents with a slow, relaxed pace of life, a warm climate, and the ability to live comfortably for around $2,000 a month. In addition to this, the country offers excellent healthcare and a great, neighborly vibe from locals and expats alike.
You can even live in Portugal's capital, Lisbon, without needing to scrimp or save for meals. Food isn't just affordable but also delicious. It may be hard to believe land in the Algarve region could be cost-effective, but it absolutely is.
03 Spain
Much like its neighbor Portugal, Spain is a haven for expats. The country is an affordable, comfortable place in which to settle. It has a range of climates, so you can choose the one that you would love the most to live in.
Spain is a foodie paradise with incredible dishes everywhere you turn. You could easily live here for an average of $2,000 per month.
04 Mexico
Mexico is a country with an extensive history, culture, and heritage. The cities are filled with art and music, and the locals are no strangers to a fiesta. Because of how close it is to the United States, it can be easy to get to and from your new home and might not feel like big of a change.
Where to live depends on what you're looking for, such as if you're drawn to the white beaches of Playa del Carmen or Guanajuato's mountainous inland. Regardless, all of this for less than $2,000 a month feels like a steal.
05 Thailand
Thailand has a reputation for bright lights and big cities. While that's true in some cases, there's a lot more to the country. It's difficult to get bored in Thailand. In places like Bangkok, which is the country's capital, it feels as though everyone is always on the go. However, if you prefer a more relaxed way of life, there are many gorgeous beach towns, including Hua Hin. Maybe the best part about Thailand is the cost. After all, you can easily live on a median of approximately $1,500 per month.
06 Vietnam
Many expats have already started finding their dream life in Vietnam. It's a country with a forward-thinking, ever-expanding economy.
The Southeast Asian country has several UNESCO World Heritage sites ranging from Hindu temples to ancient cities. One of its largest cities, Da Nang, is a cultural hub. It's easy for a couple to live here for less than an average of $1,000 per month.
07 Costa Rica
In Costa Rica, you can do many outdoor activities, including fishing, golfing, hiking, and riding horses, making it easy to stay busy in a beautiful locale. Costa Rica is a safe choice for a country to move to and your dollar will stretch far in housing, activities, and meals. Average rents in the city are upwards of $700 per month, and in some places, it may even be less.
08 Panama
Living in Panama, which connects Central America and South America, comes with many benefits, including for expats. From Ropa Vieja and Tamales to Paella and Ceviche, the food is fantastic and you'll love eating it on a daily basis. Although the cost of living in Panama will depend on where you choose to live, you could be looking at between $1,500 to $2,000 per month on average.
09 Malaysia
Most of these countries are ones we might vacation to and fall for, not fully realizing we could actually live there. One of those places is Malaysia. Many locals know English, so you're already in a position to be able to communicate, which makes settling much easier.
In Penang, there's something for everyone. It's a great spot to live and a locale with ample culture, beaches, and nature. You can also comfortably live there on a budget of as little as approximately $1,000 a month.
10 Colombia
Primarily located in South America, Colombia is a Spanish-speaking country that partially borders the Caribbean Sea. One of the things to love about it is the range of temperatures. In the countryside, it can feel like spring the entire year.
The cost of living across Colombia is wonderful. Average monthly costs in Medellin are approximately $1,500, but if you venture further out, you could be paying even less.
11 Ecuador
If you look up affordable destinations, Ecuador is sure to show up near the top of your search results. This country on the Pacific side of South America offers a mild climate and modest costs for homes, food, and healthcare.
In Cuenca, a growing expat locale, a couple can easily live on approximately $1,500 per month, including for a one-bedroom apartment rental. Located in the Andes mountains, Cuenca also offers plenty of outdoor activities for those who enjoy an active lifestyle.
12 Georgia
The country of Georgia holds tight to old European charm while embracing modern amenities. From the Caucasus Mountains to the Black Sea coast, there's ample scenic beauty to appreciate. In the capital of Tbilisi, which has a population of more than 1 million, you could live quite comfortably for less than $1,600 monthly.
13 Bolivia
Bolivia in South America offers upscale urban living that's incredibly easy on the budget. As of 2023, the country's inflation is 2.58%. With a budget of $1,550 per month, a couple can easily make themselves at home in a one-bedroom apartment with money left over to spare.
14 Sri Lanka
Sri Lanka, an island country lying just under the Indian subcontinent, holds exotic allure and an overall cost of living that's hard to resist. A modest one-bedroom apartment outside the city will cost less than in the downtown area, but both areas are still affordable, even with the cost of utilities added.
15 Argentina
Bolivia's neighbor Argentina offers a blend of native South American and European cultures with a significantly low cost of living. In this incredibly expansive and diverse country, expat couples in the cities can live well on $1,500 to $1,800 a month, and they can live on less if they reside outside of tourist districts. Even private preschool and designer clothes cost a fraction of what you'd pay in the United States.
16 India
India offers an affordable lifestyle with a low cost of living. The country's diverse geography, from the Himalayan peaks in the north to the tropical beaches in the south, offers a variety of experiences. Its bustling cities are filled with colorful markets and street food stalls where you can eat for an affordable price. It's important to note that the cost of living can vary greatly depending on the region and the lifestyle you choose.
17 Nepal
Nestled in the Himalayas, Nepal is a paradise for nature lovers and adventurers. It's one of the most affordable countries to live in, with low costs for food, accommodation, and transportation.
The country is famous for its trekking routes, including the Everest Base Camp and Annapurna Circuit. Its capital, Kathmandu, is an exciting city with a mix of modern life and ancient culture. Despite its low cost of living, Nepal offers a high quality of life, especially for those who love the outdoors.
18 Cambodia
Cambodia's cost of living is very low, making it an attractive place for expats and long-term travelers. It offers a mix of urban life and rural charm.
The capital city of Phnom Penh and the resort town of Siem Reap deliver modern amenities, while the countryside offers a slower, traditional lifestyle. The country is also home to the famous Angkor Wat Hindu-Buddhist temple complex.
19 Laos
Laos is a hidden gem in Southeast Asia. The cost of living is incredibly low, and the country offers a peaceful lifestyle away from the hustle and bustle of big cities. The landscape is dominated by mountains, rivers, and forests, offering plenty of opportunities for outdoor activities. The Laotian people are known for their friendliness and hospitality, adding to the country's appeal.
20 Philippines
The Philippines is an archipelago of more than 7,000 islands, offering everything from bustling cities to pristine beaches. The cost of living is low, and English is widely spoken, making it an attractive place for expats. The country is known for its friendly locals, delicious food, and diverse natural beauty. Whether you prefer city life, beach living, or the countryside, the Philippines has something to offer.
21 Montenegro
Known for its stunning coastline and mountainous landscapes, Montenegro presents a high quality of life at a low cost. The country is smaller and less touristy than its neighbor Croatia but offers equally beautiful scenery. The cost of living is quite affordable, especially when it comes to housing and local food.
22 Turkey
Straddling Europe and Asia, Turkey offers a unique blend of cultures along with a low cost of living, especially outside of the major cities. The country is known for its delicious cuisine, love of cats, and diverse landscapes. There's a lot to explore in Turkey, ranging from the bustling city of Istanbul to the fairy-tale-like region of Cappadocia.
23 Albania
Albania is one of Europe's hidden gems. The country offers a mix of beautiful beaches, mountainous landscapes, and Ottoman architecture. The cost of living is one of the lowest in Europe, making it a great place for budget-conscious travelers and expats. It's still off the beaten path, offering an authentic experience away from mass tourism.
24 Bulgaria
Bulgaria is an attractive destination for many, especially thanks to its interesting history and diverse landscapes. This Balkan nation that borders the Black Sea offers a high quality of life at affordable costs. From the lively capital city of Sofia to the beautiful beaches on the Black Sea coast, there's a lot to love about Bulgaria.
25 Romania
Romania is a country of contrasts, with modern cities like Bucharest offering all the amenities of urban life along with rural areas where traditional lifestyle still prevails. The cost of living is low, especially in rural areas, and the country offers incredible natural beauty, from the Carpathian Mountains to the Danube Delta. Romania's fascinating history and culture, delicious cuisine, and friendly locals add to its appeal.
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