Well, have we got some news for you. The following countries are the cheapest ones for Americans to live in, so take a look at the list and start packing! The countries were selected using GOBanking.com analysis. The analysis was based on four metrics:
Local purchasing power: How much you can buy with an average salary typical to the country. The lower it is, the less you can buy with that salary and vice versa.
Rent: How high or low the average rent is in different countries.
Groceries: How high or low the typical grocery prices are in different countries.
Local goods and services: How high or low are the prices of utilities, services, and goods such as transportation, restaurants, and more. All metrics in the different countries were compared to the ones in New York City.
Peru is a country rich with ancient Inca history. Its colorful streets stretch from the stunning Andes mountains in the east, to dazzling beaches in the west.
The most interesting places to see in Peru are Cuzco and Machu Picchu. The former was an Inca capital and the latter contains ancient ruins and antiques. In order to join the 32 million people living in this South American gem, you will need to learn Spanish. If you fall in love with the place entirely and want to learn some indigenous languages too, you can start with Quechua and Aymara.
Local purchasing power is 58.8% lower
Rent is 82.77% cheaper
Groceries are 63.83% cheaper
Local goods and services are 60.53% cheaper
Estonia used to be a part of the Soviet Union. Now it shares its borders with Russia, Latvia, and the Baltic Sea.
Estonia joined NATO (North Atlantic Treaty Organization) and the EU (European Union) in 2004. Since then, its population of 1.9 million has enjoyed a much-improved economy. The people of Estonia speak Russian as well as Estonian.
Local purchasing power is 31.52% lower
Rent is 86.02% cheaper
Groceries are 63.26% cheaper
Local goods and services are 50.5% cheaper
If warmer weather is ideal for you, Kenya is the place to go. Located on the equator along the shores of the Indian Ocean, the Republic of Kenya enjoys natural landscape like no other country. The landscape and wildlife make for a great tourist magnet, but sadly, those have been threatened many times by different terror attacks.
Kenya has a population of 53 million people divided into numerous ethnic groups. Kenyans speak mostly English and Swahili, but some of the groups have their own indigenous languages.
Local purchasing power is 69.1% lower
Rent is 90.32% cheaper
Groceries are 62.35% cheaper
Local goods and services are 61% cheaper
Formerly known as Persia, the Islamic Republic of Iran is home to nearly 84 million people. Most of those people speak Farsi (Persian), but walking the streets you might hear some different dialects as well.
Iran's colorful markets and unique customs can't be matched by any other country's. But before you pack your bags and go, consider the country's limited freedom of speech. Ayatollah Ali Khamenei, Iran's Supreme Leader, controls everything – from the army to the media.
Local purchasing power is 56.82% lower
Rent is 82.95% cheaper
Groceries are 66.47% cheaper
Local goods and services are 61.74% cheaper
After years of being a part of Yugoslavia, Slovenia finally became independent in 1991. The country is now a member of the EU and NATO. In the last 10 years, Slovenia has experienced an economical low and healed from it.
The country enjoys beautiful lakes and mountains, and its 2 million population speaks Slovenian. This European country borders with Austria, Italy, Croatia, Hungary, and the Adriatic Sea.
Local purchasing power is 21.77% lower
Rent is 85.94% cheaper
Groceries are 56.52% cheaper
Local goods and services are 46.76% cheaper
This country's main economical pillar is the oil industry, but it also relies on fishing and tourism. Oman's population of 5 million people enjoys the desert mountains on one side and the Arabian Sea on the other.
Located in the Middle Eastern Arabian Peninsula, the official language of this Islamic country is Arabic.
Local purchasing power is 11.86% higher
Rent is 72.08% cheaper
Groceries are 50.66% cheaper
Local goods and services are 47.41% cheaper
Croatia is a small European country that borders with Slovenia, Hungary, Montenegro, and Bosnia-Herzegovina. The city of Zagreb, the capital, is full of beautiful old Austro-Hungarian buildings you just can't get enough of.
The country has a population of 4 million people that mostly speak Croatian.
Local purchasing power is 39.29% lower
Rent is 89.91% cheaper
Groceries are 60.09% cheaper
Local goods and services are 52% cheaper
The first thing that comes to mind when we think of China is busy streets full of people. Seeing that China has a population of 1.4 billion, we wouldn't be wrong, but this country has a lot more than that.
It is a place where the old world meets the latest modern developments. The nation's capital, Beijing, is home to many fabulous markets to wander through, and the rural countryside is also great to explore.
Local purchasing power is 32.16% lower
Rent is 81.33% cheaper
Groceries are 52.26% cheaper
Local goods and services are 55.24% cheaper
This beautiful Mediterranean island has fabulous beaches and warm weather. This explains why it is such a tourist magnet.
Cyprus is divided into two parts – the Turkish part in the north, and the Greek part in the south. While the people of Cyprus speak Greek or Turkish, you should find your way around there pretty easily as an English speaker.
Local purchasing power is 4.08% lower
Rent is 87.72% cheaper
Groceries are 55.94% cheaper
Local goods and services are 45.93% cheaper
This Eastern European country is home to some breathtaking architecture and cultural centers. People who dream of traveling Europe should definitely put Budapest (the capital) on their lists, even if only to enjoy the nightlife and mineral spas.
Unsurprisingly, the official language in Hungary is Hungarian, but since the country borders with Serbia, Croatia, and Slovenia, it wouldn't be hard to find minorities that speak Serbian, Croatian and Slovenian.
Local purchasing power is 52.48% lower
Rent is 87.33% cheaper
Groceries are 66.38% cheaper
Local goods and services are 57.23% cheaper
Becoming a part of the EU in 2004, Slovakia used to be a part of Czechoslovakia. Now, it is its own country with its own identity and a growing economy. Slovakia's border neighbors are Poland, Ukraine, Hungary, Austria, and of course, the Czech Republic.
Slovakia's official language is Slovak, and it is spoken by its population of nearly 5.5 million. Other than beautiful architecture, Slovakia is also home to some of the world's best ski slopes.
Local purchasing power is 35.25% lower
Rent is 83.51% cheaper
Groceries are 61.16% cheaper
Local goods and services are 55.1% cheaper
Once a war-stricken dictatorship, Uganda can now take pride in itself as an independent country with a stable economy. It is home to nearly 46 million people, whose official language is English.
Uganda's terrain, flora, and fauna make it true heaven on earth. It is home to Lake Victoria, the Rwenzori Mountains, and a great variety of wildlife.
Local purchasing power is 80.58% lower
Rent is 93.17% cheaper
Groceries are 70.59% cheaper
Local goods and services are 65.86% cheaper
Belarus may not have beaches to enjoy, but this European country has a lot of other things to offer, such as picturesque villages, diverse wildlife, and stunning hiking trails.
Once a part of the Soviet Union, this country borders Poland, Russia, Lithuania, Ukraine, and Latvia. Its population of nearly 9.5 million speaks Belarusian or Russian.
Local purchasing power is 63.57% lower
Rent is 87.79% cheaper
Groceries are 72.81% cheaper
Local goods and services are 66.16% cheaper
Montenegro is home to Mount Lovćen, a part of the Dinaric Alps mountain range, which is covered with so many pine trees and greenery it almost looks black. This mountain is the reason behind the country's name - the black mountain. Other than the famous mountain, this Balkan country is also known as the home of the Tara River Canyon, which is the deepest one in Europe.
Montenegro's population of a little over 600,000 speaks Montenegrin. However, just like in many other European countries, you're sure to stumble upon people who speak the languages of the bordering countries as well.
Local purchasing power is 53.39% lower
Rent is 90.46% cheaper
Groceries are 68.9% cheaper
Local goods and services are 60.65% cheaper
Every surfer's dream, Sri Lanka has some of the best beaches in the world. This stunning island is located in the Indian Ocean, in the south of India, and houses no less than eight UNESCO World Heritage Sites.
With its tropical climate, Sri Lanka has vast rainforests with unique wildlife to explore. The nation's population of 21.4 million has known war and hardships, but it's happy to host tourists and newcomers and show them around its beautiful home.
Local purchasing power is 69.72% lower
Rent is 91.26% cheaper
Groceries are 63.21% cheaper
Local goods and services are 66.53% cheaper
Another former member of the Soviet Union is Armenia, which became independent in 1991. This Euro-Asian country is located in the south of the Caucasus Mountains, which mark the land border between Europe and Asia.
There are nearly 3 million people residing in Armenia. Officially, their language is Armenian, but some minority communities speak Russian, Greek, Assyrian, and Yazidi Kurdish.
Local purchasing power is 67.12% lower
Rent is 90.09% cheaper
Groceries are 73.17% cheaper
Local goods and services are 66.13% cheaper
Taiwan's relationship with China is problematic, as the latter refuses to acknowledge the former's independence since 1950.
This Asian country is famous for its hi-tech industry, there is a lot of nature to explore there as well. It is places like Taiwan's lush forests, canyons and beaches that earned the country its reputation as "Ilha Formosa" – the beautiful island.
Local purchasing power is 18.57% higher
Rent is 85.2% cheaper
Groceries are 27.11% cheaper
Local goods and services are 38.62% cheaper
Syria really is cheap to live in, but it is a package deal. Along with cheap prices, this deal contains the outcomes of a brutal civil war. Many survivors of that war are now taking refuge in other countries.
Once this Middle Eastern nation gains its strength, those who visit it could enjoy the Mediterranean beaches and mountains. It would be wise to learn some key words in Arabic prior to your stay there, as it is Syria's official language.
Local purchasing power is 85.92% lower
Rent is 94.02% cheaper
Groceries are 73.28% cheaper
Local goods and services are 71.69% cheaper
Bolivia has pretty much any kind of terrain you can imagine. From mountains to rainforests, from desert to tropical climate, it's all there. Spending a day exploring colorful markets and then another day exploring the Amazon rainforest is right within your reach.
This country's multi-ethnic population counts about 11.6 million people. Their official language is Spanish, but some indigenous communities speak less familiar languages, such as Guarani or Quechua.
Local purchasing power is 53.26% lower
Rent is 88.93% cheaper
Groceries are 67.87% cheaper
Local goods and services are 61.35% cheaper
This South American country enjoys the shores of the Caribbean Sea as well as the Pacific Ocean. Colombia's 50 million inhabitants have indigenous, Spanish, and African roots, which make for an intriguing ethnic blend.
While this country is known for inside conflicts between its authorities and drug lords, things have been significantly improving on that front in the past decade.
Local purchasing power is 62.37% lower
Rent is 89.31% cheaper
Groceries are 71.24% cheaper
Local goods and services are 65.55% cheaper
Bangladesh's population of 64 million can pride itself on its beaches and ancient temples, among other things. Sadly, it's unique location by the Bay of Bengal means that the country could get badly hurt by natural disasters such as cyclones, floods, and global warming.
This beautiful country has borders with India, Burma, Bhutan, and Nepal. The people of Bangladesh speak Bengali.
Local purchasing power is 63% lower
Rent is 94.39% cheaper
Groceries are 67.29% cheaper
Local goods and services are 63.9% cheaper
Morocco is a melting pot of different cultures: European, Berber, Arab, and African. This mix, along with the country's dazzling Mediterranean and Atlantic beaches, make for quite a desirable destination to many.
The country's 36.9 million people have Arabic and Berber as their official languages, but it is common to hear other languages such as Spanish and French spoken in the streets too.
Local purchasing power is 58.8% lower
Rent is 89.56% cheaper
Groceries are 68.49% cheaper
Local goods and services are 64.47% cheaper
Also a former member of the USSR, Azerbaijan is located between the Caucasus Mountains and the Caspian Sea.
The country's capital is Baku, and that may be the only place where you will have a chance to find one or two people who speak English. The country's population of 10.14 million are mostly Azeri/Russian-speaking Muslims.
Local purchasing power is 69.2% lower
Rent is 89.34% cheaper
Groceries are 77.07% cheaper
Local goods and services are 72.24% cheaper
The Philippines' climate is usually sunny and warm, which makes it a great destination for backpackers looking for nice hiking trails with agreeable weather. Unfortunately, the thousands of islands making up the country can also be severely affected by typhoons and monsoons.
English speakers will be happy to know that English is one of the two official languages spoken in The Philippines. The other official language spoken by the 109.5 million residents of this nation is Filipino.
Local purchasing power is 64% lower
Rent is 92.68% cheaper
Groceries are 66.05% cheaper
Local goods and services are 65.29% cheaper
Whether Turkey is a part of Asia or Europe has yet to be determined. Despite the country's wish to become part of the EU, it remains out of it for now because of the Turkish government's controversial acts.
Among Turkey's 84 million inhabitants, there are small communities of American immigrants who moved there to enjoy the affordable prices. They are, however, concerned about the high rates of domestic violence in the country.
Local purchasing power is 44.36% lower
Rent is 89.44% cheaper
Groceries are 66.54% cheaper
Local goods and services are 61.4% cheaper
This Balkan country has access to many bodies of water, such as the Danube, various rivers, and the Black Sea. Driving along the borders of Bulgaria you will see Romania, Greece and Turkey. Bulgaria used to be a USSR ally, but now it is part of the EU.
The Bulgarian culture feeds from different influences, such as Slavic, Persian, Ottoman, and Greek. Those different influences have had a lasting effect on Bulgaria's traditional arts. The country's population of nearly 7 million speaks Bulgarian.
Local purchasing power is 48.6% lower
Rent is 91.09% is cheaper
Groceries are 69.51% cheaper
Local goods and services are 63.51% cheaper
Located between Russia and China, Kazakhstan is quite a melting pot, bringing together Uzbeks, Russians, Chechens and Koreans under one flag.
Its 18.7 million residents enjoy a stable government and economy, as well as clear lakes and crisp, white ski slopes. The official languages are Kazakh and Russian.
Local purchasing power is 55.16% lower
Rent is 88.73% cheaper
Groceries are 75.17% cheaper
Local goods and services are 69.26% cheaper
As you would expect of a country that is mostly located in the Sahara Desert, Algeria's climate is not for those who enjoy the cold. This country is the largest one in Africa, bordering with Morocco, Mauritania, Mali, Niger, Libya, Tunisia, and the Mediterranean Sea.
Once a French colony, Algeria became independent in 1962. These days, the country's stable economy relies mostly on gas and oil.
Local purchasing power is 63.34% lower
Rent is 93.17% cheaper
Groceries are 67.5% cheaper
Local goods and services are 67.62% cheaper
For such a small country, Albania has a lot to show. It boasts the beautiful Albanian Alps, and since it's located on the Balkan Peninsula, its beaches offer its tourists a dip in the Adriatic and Ionian Seas.
Albania's capital is the city of Tirana – a welcoming, colorful city, full of historical landmarks and archaeological sites – a great source of pride for the country's population of nearly 3 million.
Local purchasing power is 65.51% lower
Rent is 93.7% cheaper
Groceries are 73.93% cheaper
Local goods and services are 67.58% cheaper
Famous for its vampire myths, Romania has quite a spooky reputation. Especially when you take in all the medieval buildings and castles around it. Other than being a great set for Dracula-themed movies, this country also has an impressive Black Sea shoreline.
There are nearly 20 million people living in this Eastern European country, and their official language is Romanian.
Local purchasing power is 46.56% lower
Rent is 90.41% cheaper
Groceries are 70.95% cheaper
Local goods and services are 64.37% cheaper
Serbia has a very rocky history. It used to be part of Yugoslavia and then went on to be part of the Union of Serbia and Montenegro. It finally became independent in 2006. This landlocked country is neighbor to Croatia, Montenegro, Bosnia-Herzegovina, Romania and Bulgaria.
Serbia is now officially an EU member. Its nearly 9 million residents enjoy the country's affordable cost of living. If you learn a few words in Serbian, the local language, you might be able to enjoy it too.
Local purchasing power is 59.2% lower
Rent is 92.75% cheaper
Groceries are 75.04% cheaper
Local goods and services are 66.21% cheaper
Georgia has been wanting to become an EU member for a while, and if it wasn't for Russia, it would have been a member already. Up until 1991, Georgia used to be part of the USSR. It still has a border with Russia, and the two countries rarely see eye to eye.
Freedom of speech is protected by the Georgian constitution and the Georgian media often uses it to criticizes its government. There are close to 4 million citizens living in Georgia, all of whom speak Georgian or Russian.
Local purchasing power is 66.97% lower
Rent is 91.43% cheaper
Groceries are 77.74% cheaper
Local goods and services are 72.63% cheaper
Located in Southern Africa, Zambia is home to a population of 18.3 million. Locals and visitors alike can find plenty of hiking trails and wildlife to explore. As English speakers, you would be happy to know that Zambia's official language is English.
This country is landlocked, but when it can brag about being home to the famous Victoria Falls, why would it ever need a beach?
Local purchasing power is 10.07% higher
Rent is 78.06% cheaper
Groceries are 66.17% cheaper
Local goods and services are 55.27% cheaper
This country is located in South Asia and shares a border with both India and China. The local economy is in bad shape and it mostly relies on tourism. This means that as foreigners, your dollars can get you pretty far here.
With eight of the highest mountains in the world within its borders (yes, Mount Everest too), Nepal is heaven for hikers and climbers.
Local purchasing power is 74.91% lower
Rent is 96.64% cheaper
Groceries are 73.62% cheaper
Local goods and services are 69.98% cheaper
This Eastern European country also used to be a part of the Soviet Union. Now, it is its own country, which shares a border with Romania and Ukraine.
Moldova is one of the poorest countries in Europe these days. It faces both high unemployment rates as well as poverty. As an outsider, your American dollar will go a long way there. If you learn a few words in Moldovan or Russian, it might go even further.
Local purchasing power is 70.62% lower
Rent is 92.15% cheaper
Groceries are 78.03% cheaper
Local goods and services are 71.63% cheaper
This country was mentioned as the neighbor of several other countries in this list, and now it gets to take center stage. This country, too, was once part of the Soviet Union, and now stands independent, sharing a border with Russia.
A big part of the country's population of 43.7 million lives in Kyiv, the capital. Travelers love to explore the country's Black Sea shoreline and forested mountains.
Local purchasing power is 73.07% lower
Rent is 90.64% cheaper
Groceries are 80.13% cheaper
Local goods and services are 73.78% cheaper
In 1993, after Czechoslovakia turned into two separate countries, the Czech Republic was formed. From its location in central Europe, this country borders with Austria, Poland, and Germany. This well-established democracy enjoys a stable economy.
The 10.7 million residents of the Czech Republic speak Czech as their main language. Their capital city is Prague, which is famous for its historic buildings and landmarks.
Local purchasing power is 23.78% lower
Rent is 85.17% cheaper
Groceries are 64.16% cheaper
Local goods and services are 58.78% cheaper
Can't decide between rainforests and beaches? Good thing Malaysia has both. Located in part on the Malay Peninsula, this country's territory also includes a part of Borneo Island. There are about 32 million inhabitants in this Southeast Asian country, most of which are either Malay or Chinese.
The cultural mix in Malaysia includes local influences as well as foreign, such as Indian, Chinese and European. European architecture is quite common in the capital, Kuala Lumpur, but this city is home to modern buildings as well. Local purchasing power is 26.66% lower
Rent is 88.81% cheaper
Groceries are 57.56% cheaper
Local goods and services are 59.76% cheaper
As a country that survived many brutal wars, Poland has very much evolved over the years. It is now a member of both NATO and the EU, and enjoys a stable economy. Neighboring on seven other countries, this European powerhouse also has peaceful beaches at the Baltic Sea's shores.
There are nearly 38 million people living in Poland, calling the city of Warsaw their capital. Much of the city's beautiful architecture has been hurt by wars, but thanks to professional restoration work, you could never guess it.
Local purchasing power is 28.25% lower
Rent is 86.07% cheaper
Groceries are 70.31% cheaper
Local goods and services are 61.85% cheaper
The two main pillars on which Libya's economy stands are oil and sand. This sunny country is located in North Africa at the shores of the Mediterranean. It has borders with Chad, Niger, Tunisia, Algeria, Egypt and Sudan.
The capital of Libya is Tripoli. The city is home to a little more than a million people out of the country's nearly 7 million residents. Most Libyans speak Arabic, but don't be surprised to hear some Italian too, as the place used to be an Italian colony.
Local purchasing power is 32.65% higher
Rent is 81.2% cheaper
Groceries are 52.99% cheaper
Local goods and services are 54.15% cheaper
After detaching from Yugoslavia and surviving a three-year-long war, Bosnia-Herzegovina is not doing well economically. Its request to join the EU from 2016 is still pending. It does, however, have a neighboring country with such membership: Croatia. Aside from Croatia and a small stretch of the Baltic Sea's shore, Bosnia-Herzegovina also has borders with Serbia and Montenegro.
This country has captivating landscapes of lakes, forested areas, and quaint little villages. Its population stands at a little over 3 million people, who speak Bosnian, Croatian, or Serbian.
Local purchasing power is 48.71% lower
Rent is 93.78% cheaper
Groceries are 70.24% cheaper
Local goods and services are 64.95% cheaper
It took Yugoslavia's disintegration for Macedonia to be formed. This little country has around 2 million people living in it, most of which speak Macedonian or Albanian.
Macedonia is located in the Balkan area, but thankfully, it hasn't seen as many ethnic wars as its neighbors. This country has borders with Serbia, Bulgaria and Greece.
Local purchasing power is 60.15% lower
Rent is 93.98% cheaper
Groceries are 74.59% cheaper
Local goods and services are 69.07% cheaper
This country used to be torn apart over an apartheid regime, but is now one of the most successful and modern democracies in Africa.
Nearly 60 million people live in this sunny country. They come from a large variety of ethnic backgrounds, such as descendants of European colonizers, Zulu, and dozens of other indigenous communities. English is only one of this nation's 11 official languages.
Local purchasing power is 1.04% lower
Rent is 83.67% cheaper
Groceries are 63.73% cheaper
Local goods and services are 56.88% cheaper
Located at the coast of the Mediterranean and bordering on Libya and Algeria, this country is a true North African gem. Tunisia's stunning beaches and islands are just one reason why tourists can't get enough of the place. Other than tourism, this country also thrives on its booming agriculture industry.
Formerly a French colony, this predominantly Islamic country is home to a population of 11.8 million, most of which speak Arabic as well as French.
Local purchasing power is 59.81% lower
Rent is 93.9% cheaper
Groceries are 72.42% cheaper
Local goods and services are 71.26% cheaper
Bordering on Afghanistan, Iran, and India, this beautiful country has a lot of natural landscapes to offer – snowcapped mountains, rushing rivers and green valleys. Pakistan is home to a population of 220 million.
Pakistan came into existence after Britain retreated from holding India as a colony, and the Muslim population there sought its own country. This nation's official languages are Urdu and English, but other languages in use there include Punjabi, Pashto, and Sindhi.
Local purchasing power is 60.05% lower
Rent is 94.97% cheaper
Groceries are 75.17% cheaper
Local goods and services are 72.82% cheaper
Egypt is located on the point that connects Africa to the Middle East. It enjoys the beaches of the Red Sea as well as the Mediterranean. On land, it has borders with Sudan and Libya.
Famous for its pyramids and other monuments, Egypt has archaeological findings that can't be found anywhere else. In ancient times, this country used to house scholars and a highly advanced civilization. Nowadays, it is home to a predominantly Muslim, Arab-speaking population of 102 million.
Local purchasing power is 70.61% lower
Rent is 94.97% cheaper
Groceries are 80.99% cheaper
Local goods and services are 77.64% cheaper
In the north, Mexico is bordered by the US. In the south, it is bordered by Belize and Guatemala. This Central American beauty is also sandwiched in between great bodies of water – the Pacific Ocean in the west, and the Gulf of Mexico in the East.
Mexico's unique terrains includes mountains as well as beaches, and big cities alongside picturesque villages, all housing nearly 129 million people. The Peso is the local currency, and since its value isn't very high, American dollars can get you a lot of it.
Local purchasing power is 39.92% lower
Rent is 91.63% cheaper
Groceries are 71.94% cheaper
Local goods and services are 70.19% cheaper
Seaside tourism in Belize is nothing new. When a country has Caribbean Sea beaches with exotic marine life, it would be foolish not to show it off to visitors. Other than that, Belize used to be home to the ancient Mayan empire, and it has the ruins to prove it.
The climate, wildlife, and low cost of living make Belize ideal for Americans to move to if they ever feel like a change of scenery.
Local purchasing power is 34.33% higher
Rent is 88.65% cheaper
Groceries are 50.65% cheaper
Local goods and services are 44.2% cheaper
The Kingdom of Saudi Arabia is famous for its wealth – wealth that is mostly sourced in the country's oil industry. This Middle Eastern country has an Arabic-speaking population of 34.8 million. Given that the country follows Islamic law, it is important for visitors to be aware of it and behave accordingly when staying there.
The capital of Saudi Arabia is Riyadh, which is the Arabian Peninsula's biggest city. If you ever get there, make sure to check out the Burj Rafal – one of the tallest buildings in the world.
Local purchasing power is 38.05% higher
Rent is 85.64% cheaper
Groceries are 59.46% cheaper
Local goods and services are 51.63% cheaper
India is so big and has so many people that it has earned the status of a subcontinent. Despite it being one of the biggest economies in the world, the cost of living there is, in fact, the world's lowest.
After years of being a British colony, it is now its own democracy, with a population of 1.3 billion. Its colorful markets, unbelievable landscapes, and intriguing traditions make it a definite must for this list.
Local purchasing power is 23.27% lower
Rent is 93.23% cheaper
Groceries are 74.8% cheaper
Local goods and services are 74.92% cheaper
Not only is this Southeast Asian country a fascinating place, with ancient history, a diverse culture, and natural landscapes, but it's also a really cheap country to live in. With its exotic beauty and heritage cities aside, Vietnam earns you good money, especially in the teaching sector for English.
Seeing as Vietnam was massively aided by the USA, it means that the economy is struggling and, as a result, still affordable when compared to other countries.
Rent is 88 % cheaper
Groceries are 40% cheaper
Costa Rica is known for its dense rainforests, beaches, and volcanoes; this Latin American country is also a great cheap place to spend your life in. For Americans, the lifestyle in Costa Rica is unusually affordable; you can think of it as an inexpensive lifelong vacation. The capital is San Jose is much cheaper when compared to the capital cities of neighbors.
Working in tourism and education are well paid for the emigrants, whereas groceries and transportation come very cheap. Renting a place may be more expensive but still manageable for affordable living.
Rent is 35% cheaper
Groceries are 49% cheaper
A list of the cheapest countries around the world wouldn't be complete without mentioning Thailand! Travelers and tourists all over have fallen in love with its tropical beaches, delicious food, and smiling people.
With incredibly low living costs in the major cities, even Bangkok and Chiang Mai. Beach resorts tend to be slightly more expensive but are still cheaper when contrasted with other beach destinations around the world.
Rent is 34% cheaper
Groceries are 49% cheaper
Cambodia is probably one of the most affordable countries to live in. The country is known for its Buddhist monasteries, ancient Hindu temples, beaches, and jungles. Living costs in cities like Phnom Penh and Siem Reap are relatively low when compared to other big cities in bordering countries.
Groceries along with transportation comes at a low cost. You can lease an apartment for around $200 a month. This means, all things considered, you can get the beauty of Southeast Asia at a steal.
Rent is 31 % cheaper
Groceries are 44% cheaper
Indonesia is as cheap as they come and it's possibly also one of the most beautiful. Tucked in between the Pacific and the Indian Ocean, Indonesia is home to some of the most gorgeous beaches ever, Bali, in particular, is a beach babies' delight!
Jakarta is the capital and is more affordable than Bali because of its undeniable difference in tourism. This implies you can get necessary items like coffees, teas, and coconut water for a dollar or less. A meal outside is also less than $2 and renting a little apartment will put you back by around $150 a month.
Rent is 25% cheaper
Groceries are 37% cheaper
Argentina is another Spanish speaking country, located in the southern half of South America. In Salta, one of the cheapest cities, s single person can get a place to live along with living expenses for an entire month for a mere $542 a month!
As the eight-largest country in the world, it has a massive population of 44 million people, it borders Bolivia, Chile, Paraguay, Uruguay, Brazil, and the South Atlantic Ocean.
Rent is 22% cheaper
Groceries are 25% cheaper
Keep in mind that this is the Caribbean, and to navigate affordably you'll need a local to guide you. Grenada has a friendly, small-town feel, and there will be no shortages of beaches and exciting spots to visit on this West Indies paradise.
Grenada used to be a British colony but is also known for its nutmeg production and casual way of life. Unlike Barbados, Grenada's beaches aren't crowded and real estate is surprisingly affordable.
Rent is 21% cheaper
Groceries are 26% cheaper
If anyone needs more peace and quiet, Laos is a nice change of pace. With idyllic villages on the riverside, Laos is a refreshing departure from Southeast Asia's earsplitting transport madness. While Laos offers an affordable existence for many people, it does take a bit of time, effort, and money to make the move.
Here, the vertical limestone cliff formations form a dramatic setting along the River Ou where memorable hiking and rafting excursions await.
Rent is 34% cheaper
Groceries are 47% cheaper
South Korea may not be the cheapest country to live in, but it's made our list because salaries are very competitive. May English speakers move to South Korea to teach English where they are also offered free accommodation, making it even more affordable.
With Korean food being incredible, a friendly population, and strikingly beautiful countryside, South Korea's developed cities rival those in the US.
Rent is 22% cheaper
Groceries are 44% cheaper
Everything from the price of dinner to real estate is lower in Ecuador, and you won't have to forego the conveniences you may be used to if you grew up in a first-world country. The influence of Amerindian culture on modern-day Ecuador is still tangible and makes for a unique cultural heritage.
With its ever-improving infrastructure and near-perfect weather, Ecuador is consistently ranked as one of the best places to retire abroad.
Rent is 27% cheaper
Groceries are 35% cheaper
The Philippines is an English-speaking nation with a lot to offer for a low-cost yet comfortable life in an exotic locale. With just a little care, a $1,000 monthly budget will get you far, providing you with everything you may need to make a new home.
The Philippines doesn't disappoint as most ex-pats can live comfortably without compromise. Known for its tropical weather and natural beauty, it's easy to be in wonder of your surroundings almost anywhere in the country.
Rent is 24% cheaper
Groceries are 33% cheaper
When we think of Portugal, we envision seafood and pristine beaches but the country is even more than just that. Portugal is renowned for its excellent food, a relaxed lifestyle, and affordable living. The capital city is Lisbon and remains as one of the top destinations for travelers from all around the globe.
While the average salary may be a bit lower than some other countries in the region, it's still affordable living. And what a location!
Rent is 26% cheaper
Groceries are 28% cheaper
It's pretty clear that not all of Italy is going to be cheap! Many countries have both expensive and inexpensive cities, sometimes you need to find a balance. Everything costs more in tourist areas, while affordable places might be a bit too off the path.
If you're looking for a Tuscan lifestyle at an affordable price then the province of Abruzzo is an excellent choice. It's close to Florence with access to the Adriatic coastline as well as mountainous areas.
Rent is 21% cheaper
Groceries are 18% cheaper
Nowadays, Nicaragua offers the lowest cost of living in Central America, its been said that its 10 times cheaper than the United States. Nicaragua's lower cost of living doesn't suggest you have to compromise on the quality of life you may have gotten used to in the United States.
In fact, you will presumably be able to live with even more luxuries than you had before, simply because the prices are so reasonable in Nicaragua.
Rent is 26% cheaper
Groceries are 14% cheaper
Venezuela does have an unfortunate reputation for being dangerous, but the country has some beautiful scenery, but very few foreign tourists visit the country, despite it being one of the most inexpensive on our list.
For those who do move to Venezuela, they live in gated communities due to the high crime rate. But beware, safety services like police, fire and civil protection can be notably scarce when faced with an emergency.
Rent is 18% cheaper
Groceries are 28% cheaper
The largest city of San Salvador may not be the best tourist destination when compared to the smaller town of Santa Ana. Bein another colonial town, it is friendly and easier to deal with than the capital, and it's easier to find English speakers here as well.
With a coastline of over 100 miles, teeming with warm beaches that are considered amongst the best in the world, El Salvador should be more renowned.
Rent is 30% cheaper
Groceries are 43% cheaper
Chile has made real steps when it comes to development in the last few decades. The capital city of Santiago could be mistaken for a city in the United States, as tall skyscrapers have jumped up along the Andes-filled city skyline. Chile probably has the lowest level of corruption in Latin America, as well as the strongest economy.
The cost of living in Chile is 40% lower than in the US, and when combined with the high standard of living, and the lowest level of poverty, Chile makes for a decent place to live.
Rent is 29% cheaper
Groceries are 36% cheaper
A new entry on our list is Nigeria. Many may wonder about the high levels of corruption, occasional fuel shortage, and the havoc caused by Boko Haram, but Nigeria remains one of the cheapest countries in Africa.
With national reserve parks and wide-open savannahs next to towering mountains to the thriving nightlife in Lagos. It might also be one of the countries with the best tax rates.
Rent is 44% cheaper
Groceries are 31% cheaper
Many grow up daydreaming about living in Europe one day, and Latvia ticks a lot of the boxes for those looking for in a European home. The biggest city in the Baltics, Riga has the quality to rival the most popular tourist destinations in Europe.
With amazing architecture, inspiring history, and quaint countryside scenes all for dirt cheap prices, making it a sound choice if you're planning to move to a country in Europe.
Rent is 30% cheaper
Groceries are 35% cheaper
Spain has long been a popular relocation destination, and for good reason. This large country has a lot of history and culture.
Although not all ex-pats in Madrid are from cities as expensive as San Francisco, it's undeniable that for Americans, the cost of living in Spain is pretty cheap.
Rent is 24% cheaper
Groceries are 14% cheaper
Guatemala is home to mountainous terrain and a diversity of ecosystems. Wetlands, lakes, swamps, deserts, beaches, and rivers make this country unique. There are Mayan ruins and indigenous Mayan people living in quaint villages as well as the colonial ruins of Antigua to see.
Guatemala has the strongest economy in Central America, but more than half the population is poor, surviving on $2 per day. On the upside, it is a friendly culture and new people are welcomed.
Local purchasing power is 3 times lower
Rent is 2 times lower
Groceries are 53% lower
Local goods and services are 30% lower
One of the best places in Honduras to relocate is Roatan. It is an island off the coast of the Central American nation located in the Caribbean. Visas are easy to obtain. All of Honduras boasts an enviable climate and beautiful natural surroundings.
For $200,000, you can call a beachfront condo in the Caribbean home. Roatan was named one of the best islands to retire by “International Living,” however, life is not great for locals. Honduras is the second poorest country in Central America.
Local purchasing power is 3 times lower
Rent is 75% lower
Groceries are 91% lower
Cost of living is 41% lower
Panama has a stable government, so the infrastructure is replete with high-speed internet and reliable power. It is a small nation with very long coastlines. Panamanians are accustomed to Americans and generally cheerful. Healthcare is high quality and significantly more affordable.
You can grab a brewski for 50 cents, literally, in Panama they use the dollar. There are few drawbacks to this lovely nation of cities, beaches, and mountains that border the Caribbean on one coast and the Pacific on the other.
Local purchasing power is 3 times lower
Rent is 14% lower
Groceries are 41% lower
Cost of living is 30%
Jordan borders Israel, Saudi Arabia, Syria, and Iraq. Many people are attracted to its history in Petra, a place that holds a geographic location of a culture predating the world’s three major religions. Islam is the state religion.
Jordan has the highest cost of living of any Middle East nation, but relative to the U.S., it’s very affordable. Don’t worry about healthcare, Jordan has the best healthcare system in the Middle East and doctors are fluent in English. In Jordan, you will need to get a residence permit. It’s different from a visa and it must be renewed annually.
Local purchasing power is 70% lower
Rent is 76% lower
Groceries are 39% lower
Cost of living index 51.21
It is very economical to live in Greece and the nation is rich in natural beauty. Greece boasts some of the Mediterranean’s most beautiful coastal scenery. Rent is lower than almost anywhere else.
However, there has been a lot of poverty and social discontent. The nation has faced economic disaster and massive government debt. Banking services may not be up to par. But the weather is a dream, and you can rent a one-bedroom for $650 in the ancient city of Athens.
Local purchasing power is 3.6% lower
Rent is 68% lower
Groceries are 68% lower
Local goods and services are 64% lower
Uruguay has magnificent landscapes, an attractive climate, and a welcoming culture. The crime rate is low, the economy is strong, and the social system is stable. Education, pensions, and healthcare are provided to its citizens. The South American country located between Brazil and Argentina has become a popular ex-pat destination.
It has a population of 3.5 million. Montevideo is a bustling city and the capital. Property is a fraction of the cost compared with large American cities, but Uruguay’s growing economy has made it more costly than other South American nations.
Local purchasing power index is 28.64
Rent is 67% lower
Groceries are 44% lower
Cost of living is 28% lower
Paraguay is landlocked, unique to South America, and borders Bolivia, Brazil, and Argentina, but that doesn’t mean it is not beautiful. The country is about the size of California. Lush forests, subtropical climate, and amazing landscapes impress. The Iguazu Falls bordering Brazil and Argentina and surrounded by rainforest are some of the world’s most stunning waterfalls.
The falls are 270 feet high. Paraguay has a strong economy, gradually making it the envy of South American nations. But compared to the U.S. the cost of living in Paraguay is significantly less.
Local purchasing power is 73% lower
Rent is 63% lower
Groceries are 75% lower
Local goods and services are 69% lower
Zimbabwe is an African nation located near Madagascar and landlocked by Mozambique, Zambia, Botswana, and South Africa. The country has a fascinating history and a rich culture. It possesses two UNESCO sites and Africa’s best safari locations.
Pouring from the Zambezi River on the Zambia border, the stunning Victoria Falls is the world’s largest waterfall. The nation is gradually becoming more Western making it an inviting relocation, however, human rights have been known to suffer under an authoritarian government.
Local purchasing power is 82% lower
Rent is 77% lower
Groceries are 41% lower
Local goods and services are 32% lower
Cuba is a gorgeous island in the Caribbean with spectacular beaches. What else do you need to know? The medical tourism industry has contributed to Cuba’s economic growth. Healthcare and education are available to all in the small island nation located off the coast of Florida and between the Caribbean islands of Jamaica, the Caymans, and the Bahamas.
Cuba’s reputation has been marred by a communist past, so it is interesting that Fidel Castro’s economy was stronger then. Having said that, it is coming back, due, in part, to the Obama administration’s efforts of improved relations.
Local purchasing power 98% lower Rent is 61% lower
Groceries are 32% lower
Local goods and services are 35%
Located on the coast of West Africa, Senegal is a former French colony with a population of 4 million people. The sovereign nation is one of the most politically stable in African. The capital is Dakar, an Atlantic port city jetting from the Senegal coastline on the Cap-Vert peninsula. It is generally a safe place to live, however, it is a developing nation.
French is the most common language, though it is a mix with Wolof. English is rare. Be sure to be vaccinated against yellow fever and typhoid. It is substantially cheaper to live in Senegal with the exception of electricity. The nation lacks a central power grid leaving the price of electricity to be comparable to a developed nation like Finland.
Local purchasing power is 81% lower
Rent is 43% lower
Groceries are 25% lower
The cost of living is 25% lower