5 Countries With The Cheapest Cost Of Living For US Citizens

In this article, we look at 5 countries with the cheapest cost of living for US citizens. You can read in detail about the cost of living crisis in the US and companies that are making cost of living adjustments in wages by heading over to our article, 20 Countries With The Cheapest Cost Of Living For US Citizens.

5. Bangladesh

Cost of Living Index: 26.2

Next on our list of countries with the cheapest cost of living for US citizens is Bangladesh, which has experienced exponential economic growth over the last couple of decades, and has attracted several multinational companies to invest in Bangladesh due to its low cost of talented labor. For Americans who have relocated to Bangladesh, living remains 73.8% cheaper for them compared to the United States. 

4. Nepal

Cost of Living Index: 25.9

Nepal is one of the most peaceful countries in South Asia and is home to the world’s highest peak, Mount Everest. The country offers a cheap cost of living for US citizens, especially when it comes to rental expenses. Nepal has the fourth lowest rent index compared to the United States of just 3.7 according to Numbeo. According to Expatistan, the average monthly expenses of a family of four to live comfortably in Kathmandu is just $2,134.

3. Nigeria

Cost of Living Index: 23.2

According to American Overseas, more than 100,000 US citizens live in Nigeria. If you paid $100 in rent in the US, you would be paying just $16.4 in Nigeria. Restaurants are also cheap with an index score of only 18.2. According to Expatistan, a combo meal at any restaurant chain in Nigeria costs an average of $3.36. 

2. India

Cost of Living Index: 22.9

India is one of the cheapest countries in the world, and is home to more than 700,000 American expatriates as of June 2017. According to Numbeo, the cost of living index score for rent in India is just 5.5, whereas for groceries it is 23.1, and for restaurants it is 16.1. Several large American corporations have set up their offices in India to make the most of the cheap labor in India. 

1. Egypt

Cost of Living Index: 21.7

Egypt is one of the cheapest countries in the world in terms of cost of living for US citizens, with a cost of living index that is almost 80% lower than the US. The rental index in Egypt is just 3.6 which is an indication of the low costs in this country. According to Expatistan, housing expenses for a 900 sqft fully furnished accommodation in an expensive locality can cost as little as $583 per month in Egypt. Meal prices are also on the lower side; a $100 bill at a restaurant in the US would just cost $17 in Egypt. 

Insider Monkey focuses on uncovering the best investment ideas of hedge funds and insiders. Please subscribe to our free daily enewsletter to get the latest investment ideas from hedge funds’ investor letters by entering your email address below. You can also take a look at 11 Best Stocks to Buy for the Next 10 Years and Top 15 Dividend Stocks To Buy According to Billionaires.

Follow Insider Monkey on X.