5 Cheapest Countries in the World in 2024

1. Burundi

Living Costs Per Capita: $267

Burundi is a small African country that covers an area of just 27,834 square kilometers. It is also one of the poorest nations in the world, and a $3.1 billion economy lends it a paltry GDP per capita of $245. Dominated by colonialism throughout its history, Burundi gained independence in 1962. Nearly all Burundians are employed in agriculture, and instead of focusing on cash crops, they produce food crops for their sustenance. Burundi has also often ranked as the world’s poorest country, and its major exports are coffee and tea. Like other underdeveloped countries, Burundi also suffers from large current account deficits. According to the World Bank, while the value of Burundi’s exports is $164 million, its imports are $1 billion.

To take a complete look at some of the cheapest countries in the world, you can check out our coverage of the 30 Cheapest Countries in the World in 2024. At Insider Monkey, we delve into a variety of topics, ranging from the cities that smoke the most weed to business aspects; however, our expertise lies in identifying the top-performing stocks. Currently, Artificial Intelligence (AI) technology stands out as one of the most promising fields. If you are looking for an AI stock that is more promising than NVDA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

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