Our list of the cheapest countries to live in the world can be very useful if your boss suggests you move overseas for a year or two. It’s informative and with a bunch of tips and tricks for living “large” and working in the countries mentioned below.
Figuring out how to adapt to a new environment can be pretty difficult. It can be even more stressful if you don’t speak the language. So, if you don’t want to force yourself learning it, and risking to feel overwhelmed, we suggest you reconsider your moving destination after checking out our list of the Cheapest Places to Live in The World That Speak English.
But why stop there! Imagine living dirt cheap on the beach, surrounded by the sunshine, smelling the sea, hearing the ocean and feeling the breeze all year round. Sounds beautiful, right? We found at least 16 Cheapest Places to Live in The World on The Beach in case you dare to set sail in search of the sunniest neighborhood.
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Since most of the countries from our list can be considered as third world countries the one who decides to experience living abroad should accept circumstances, such as different lifestyle compared to the USA way of life, often poor or non-existent service, and of course, cultural shock. Not to mention considerably high crime rate and poverty that one can witness or in a worst case scenario to experience. It’s the flip side of the coin if you choose to emigrate and settle down in one of the following countries. In other words, you get what you pay for. So, before making any big decisions, think about all details of how you want to live and remember that money isn’t the only issue.
But, as for this article, it is, so we did a little survey using information gained from Expatistan and Numbeo and their rankings regarding cost of living in each country. Expatistan’s ranking is made relative to the cost of living in the Czech Republic and Numbeo’s central reference was NYC. After overlapping their lists of cheapest countries to live in, what we picked for our list were 25 of them mentioned in both lists. Furthermore, we checked out the ranking of those countries according to the local purchasing power index. After all, this list is not just another manual or guide for expats and we asked ourselves how much money the citizens of those countries need, to make it through the month. The final touch was the data obtained from The World Bank website regarding annual inflation for each country for the year 2016. In cases when the data for this year were not available, we used the data from the year 2015. Once we combined everything mentioned above the list of the 25 cheapest countries to live in the world was made.
So, let’s see where in the world you don’t have to dig deep into your pockets to make a decent living!
25. Honduras
Expatistan ranking: 25
Numbeo ranking: 25
Local purchasing power ranking: 17
Inflation rate: 2.7%
Thank you, Cristopher Columbus for discovering Honduras! And not just because of cheap coffee, bananas, shrimps and lobsters. Pleasant environment and a slower way of life in this country are good for the soul. If you are heading out with your better half for a dinner and a movie in the Tegucigalpa, for example, you will need approximately $30. The same pleasure cost three times more in the Chicago.
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24. Indonesia
Expatistan ranking: 21
Numbeo ranking: 22
Local purchasing power ranking: 13
Inflation rate: 3,5%
Did you know that more than a half of the entire population in Indonesia that counts around 260 million people is under age of 30? Moreover, that around 30% of the same population are children under age of 15? It seems that child care is much-needed in this country. So, how much is it for one kid on a monthly basis in, let’s say, Jakarta? More than ten times cheaper compared to the average price of that service in the USA.
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23. Vietnam
Expatistan ranking: 12
Numbeo ranking: 24
Local purchasing power ranking: 19
Inflation rate: 0,9%
Besides good navigation what you need most for sightseeing of the largest Vietnam’s city, HồChí Minh City, is a descent vehicle. Any Vietnamese would recommend you a motorbike since it’s the most common form of transportation out there. In order to get the wheels turning you need to fill up the tank. Here comes the surprise! While one liter of gasoline in the USA costs $0.61, in Vietnam the price is higher for 13 cents. But, if you choose to drive around in a Taxi you will pay twice as much money in the USA for the same distance. Wondering what’s next on our list of cheapest countries to live in the world?
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22. Malaysia
Expatistan ranking: 24
Numbeo ranking: 23
Local purchasing power ranking: 2
Inflation rate: 2,1%
According to Health-Tourism, a heart bypass surgery in Malaysia costs around $10,000. You will need ten times more money if you want to do it in the US. The question arises whether this significant difference in costs means that health care in America is far better than in Malaysia? Again, with a help of Numbeo, we compared health care services between Kuala Lumpur and NYC. The result suggests that they are approximately on the same level.
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21. Serbia
Expatistan ranking: 22
Numbeo ranking: 16
Local purchasing power ranking: 9
Inflation rate: 1,1%
If you are planning to stay for a while in Serbia, move to Belgrade, a city that never sleeps. In order to experience the everyday life, it is inevitable to experience the (every)nightlife as well. Furthermore, if you want to have a great time in one of the many nightclubs, you should warm up first with a few drinks. And, here comes the good part – the prices of alcohol are so low in Serbia, that you can get a Johnnie Walker for less than $12.
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20. Algeria
Expatistan ranking: 23
Numbeo ranking: 8
Local purchasing power ranking: 15
Inflation rate: 4.8%
One liter of gasoline in Algeria costs $0.26. In the USA the price is twice as much. Considering the membership in the OPEC and the fact that the backbone of the Algerian economy is the oil and gas sector, the low price of gasoline comes as no surprise.
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19. Philippines
Expatistan ranking: 17
Numbeo ranking: 14
Local purchasing power ranking: 14
Inflation rate: 1.8%
When it comes to food expenses, in this country they are substantially lower than in the United States. In the Philippines you can manage eating well and healthy on a $200 budget per month, according to Numbeo. Another curiosity is that the four out of ten biggest shopping malls in the world are situated in this country. So, learn how to haggle if you want to live there, although the prices are already quite low.
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18. Colombia
Expatistan ranking: 19
Numbeo ranking: 13
Local purchasing power ranking: 12
Inflation rate: 7.5%
Despite the reputation of a dangerous drug-peddling place, Colombia is an endearing country with pleasant and friendly people. What is worth mentioning are really cheap services. For $2 per hour, you can get cleaning help. As for the basic utilities and the internet – you will need around $100 per month.
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17. Mexico
Expatistan ranking: 20
Numbeo ranking: 18
Local purchasing power ranking: 4
Inflation rate: 2.8%
This country is very popular for retiring abroad, according to Investopedia. It’s close to home, if you are a US citizen and it’s one of the cheapest countries to live in the world. A couple could retire in let’s say Cancun for $2500 a month, more or less. Just imagine yourself drinking tequila while lying in a comfy hammock with a sombrero on your head! What a life!
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16. Bulgaria
Expatistan ranking: 15
Numbeo ranking: 21
Local purchasing power ranking: 5
Inflation rate: -0.8%
If you want to pick up sticks and go to Bulgaria for a cheaper tomorrow you are not going to make a mistake, according to Cheapest Destinations Blog and some opinions on Quora. Property prices are surprisingly low in Bulgaria as well as rent and basic utilities. However, salaries are also low compared to European standards.
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15. Bolivia
Expatistan ranking: 14
Numbeo ranking: 20
Local purchasing power ranking: 7
Inflation rate: 3.6%
If you are heading to La Paz, the Bolivia’s capital, be prepared to get high. Yes, you read it well! The city is 12,000 feet above the sea level, and due to high altitude and lower air pressure it feels like there is less oxygen to breathe. So, you are not really going to be high, just experiencing altitude sickness. What also isn’t high in Bolivia is the cost of public transportation. A monthly pass is roughly $20, but those bus rides tend to be an adventure – roads are bumpy and riddled with gaps and cracks. So, in no time you will definitely have your funny “bus story” that was not so fun back then.
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14. Nepal
Expatistan ranking: 13
Numbeo ranking: 4
Local purchasing power ranking: 24
Inflation rate: 7.9%
Namaste! In Nepal, one of the cheapest countries to live in the world, you will definitely learn how to live cheap and to be patient. First of all, you will become more aware of resources and their use. You don’t want to stay without water to flush the toilet because you brushed your teeth too long, right? Also, internet speed is in most cases slow – below 256 kbps. On the other side, it’s what you get for a $20 per month. But, if you want a radical change, both in your life and pocket, then Nepal is right for you.
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13. Armenia
Expatistan ranking: 10
Numbeo ranking: 15
Local purchasing power ranking: 16
Inflation rate: -1.3%
Ask Kardashians if you don’t believe us, but Armenia is a fascinating country. According to The Telegraph, the world’s oldest winery is discovered in this Middle Eastern country. Even today, Armenians have great wine that is also quite cheap. You can buy a bottle of mid-range wine for roughly $5. And speaking of alcohol beverages – there is a rumor that Churchill was a big fan of Armenian cognac.
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12. Azerbaijan
Expatistan ranking: 6
Numbeo ranking: 10
Local purchasing power ranking: 23
Inflation rate: 4.2%
Next in line on the list of cheapest countries to live in the world is Armenia’s first neighbor that also can brag with low cost of living. The economy of Azerbaijan is based on the oil and rich deposits of copper, zinc, aluminium and marble. Unfortunately, this big economic potential is still unused because of the war with above mentioned Armenia that literally drains government resources. We made a comparison between the cost of living in Baku and Boston using Numbeo. The results show that life in Azerbaijan is cheaper for at least 60% compared to life in the USA.
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11. Romania
Expatistan ranking: 16
Numbeo ranking: 19
Local purchasing power ranking: 3
Inflation rate: -1.5%
Does the names Dracula, Ceausescu and Nadia Comaneci ring a bell? They all have one thing in common – their homeland is Romania. A country in the Southeastern Europe, to be more specific. The Bulgaria’s upstairs neighbor. As all good neighbors, Romania is trying to win in the „cheapest country to live in the world“ contest, at least in the hood. And it’s on the right track to do it, we can say. The results of our comparison between Sofia and Timisoara when it comes to cost of living, are going to Romania’s favor.
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10. Georgia
Expatistan ranking: 7
Numbeo ranking: 11
Local purchasing power ranking: 18
Inflation rate: 2.1%
Don’t get confused, we are not talking about Martin Luther King Jr.’s Georgia, but about Georgia, , on the shores of the Black Sea that is also one of the cheapest countries to live in the world. It will be much easier if everyone else calls it Sakarvelo, as Georgians do. When walking through a classic street in Tbilisi, one can feel like walking down Rue de Seine in Paris. But, when you decide to take a break in a near restaurant and refresh yourself with a glass of wine, that’s when reality hits you! Wines are substantially cheaper in Georgia, but there is only one Bordeaux.
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9. Bangladesh
Expatistan ranking: 18
Numbeo ranking: 7
Local purchasing power ranking: 10
Inflation rate: 5.5%
The country is situated between Myanmar and India, with a population of 163 million people. So, what are the pros and cons of moving to this countrY? Extensive flooding, cyclones and famine are definitely disadvantages. But, what about the economy of the country, and potential development of agriculture? Considering fertile soil and rivers like the Ganges, Megha Rivers and the Brahmaputra that are regularly flooding, it’s no wonder that around two-thirds of Bangladeshi workers make a living from agriculture. The direct consequence of this agricultural production is a very low price of, for example, potato, onion or tomato. They all cost less than a dollar per kg. That’s quite an advantage, right? But, let’s see what is next on our list of cheapest countries to live in the world.
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8. Moldova
Expatistan ranking: 4
Numbeo ranking: 9
Local purchasing power ranking: 20
Inflation rate: 9.7%
According to The Telegraph, Moldova and its capital Chisinau, are among the top places to buy-to-let property. What that means, you ask? Well, exactly how it sounds – buying a property in order to rent it out to someone else. It’s the type of investment that pays off, especially in countries such as Moldova, where square meter in the city center costs around $900.
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7. Bosnia and Herzegovina
Expatistan ranking: 9
Numbeo ranking: 17
Local purchasing power ranking: 6
Inflation rate: -0.9%
If you have heard about Bosnia and Herzegovina, one of the cheapest countries to live in the world, than you have definitely heard about the cevap, a traditional Balkan food made from pieces of chopped meat. The most famous are those from Banja Luka and Sarajevo. If you dare to prepare it yourself, for one person meal you will spend $2. But, our suggestion is to go to the nearest restaurant if you are in Bosnia and Herzegovina and order a big portion of cevapi for less than $10, and let the professionals do their job! As for their price in the USA – it doesn’t matter because you can get a real cevap only in the Balkans.
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6. Sri Lanka
Expatistan ranking: 8
Numbeo ranking: 12
Local purchasing power ranking: 21
Inflation rate: 3.7%
Pure Ceylon tea is probably not the cheapest thing in Sri Lanka, or elsewhere as well, but it’s kind of synonym for this country. Speaking of curiosities, another one is gemstones. In Sri Lanka, you can find a variety of these precious stones. And they are not cheap, either, especially if you buy a handful of cut glass instead of real glinting gems! But, what is cheap then? Everything else! That’s why Sri Lanka is on the list of cheapest countries to live in the world.
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5. Ukraine
Expatistan ranking: 3
Numbeo ranking: 5
Local purchasing power ranking: 22
Inflation rate: 13.9%
Although the inflation rate hit the roof this year, Ukraine is still among the cheapest countries to live in the world. Strikingly low prices of cigarettes, where one pack costs only €1.0 ($1.18), according to Cigarette Prices, make Ukraine the Promise Land for smugglers and smokers as well. All these fluctuations were caused by well-known Ukrainian crisis. It remains to be seen what will happen in the years to come.
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4. Egypt
Expatistan ranking: 1
Numbeo ranking: 1
Local purchasing power ranking: 25
Inflation rate: 13.8%
The year is 1330 BC and little Tutankhamun is trying to cross the street. But, the traffic in Memphis is backed up, camels are all over the place, as well as street vendors. Eventually, he gives up. He is going to wait until rush hour is over. Since then, not much has changed – it’s 2017 and little Ahmed from Cairo finds himself in a similar situation! But, he is using his Spiderman super abilities while sprinting between vehicles. If you want to live in today’s Cairo, they are a necessity! Eventually, Ahmed succeeded! After all, in these days, time is money! Especially for Egyptians, since they lack both! According to Egypt Independent, almost 30% of Egypt population is poor! For them, life in Egypt isn’t cheap. On the other hand, expatriates perceive it as a financial haven. It’s no wonder, considering the results of the cost of living comparison between Egypt and United States.
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3. Macedonia
Expatistan ranking: 11
Numbeo ranking: 6
Local purchasing power ranking: 8
Inflation rate: -0.2%
Again, we are in the Southeastern Europe, a place where hospitality exceeds expectations. As well as prices. Meaning, you can get a delicious and cheap organic dinner while enjoying the beautiful scenery and good service. Macedonia, one of the cheapest countries to live in the world is a heaven for wanderlusts, at least according to some opinions on the Expat.
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2. Tunisia
Expatistan ranking: 2
Numbeo ranking: 2
Local purchasing power ranking: 11
Inflation rate: 3.7%
There are so many reasons why you should live in Tunisia! Even Ancient Romans once lived there. At first glance, it’s the country of historic buildings, archaeological sites and past centuries. An extraordinary mix of European and Middle Eastern culture on the shores of the Mediterranean Sea. For many years in a row, Tunisia is among the cheapest countries to live in the world. According to TunisiaLive, you can live there for less than a $10 a day! Also, if you are interested in buying and owning a real estate, the average price of a square meter in the city center is around $900.
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1. India
Expatistan ranking: 5
Numbeo ranking: 3
Local purchasing power ranking: 1
Inflation rate: 4.9%
Why India deserves first place on our list of 25 cheapest countries to live in the world? Is it because of the cheap housing, transportation or fresh food? Probably yes. Not to mention Tata Nano, the car manufactured in India that is one of the world’s cheapest cars. It costs around $2500 in India and twice as much in the USA. If you can get used to the dirt, heat and constant crowds come to India and experience the cheapest life in the world.
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