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
Grenada
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
Laos
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
Ecuador
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
Philippines
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