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Which Countries Have the Cheapest Cost of Living?

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When you’re somebody who travels often, you’ve likely considered moving to one of the wonderful places you’ve visited before. Well, now that inflation is going up around the world, it might be a good time to move somewhere that is a bit cheaper. Granted, inflation is likely also affecting that area, but at least it’s less extreme.

Regardless, to figure out where you should move, you need to know which countries have the cheapest cost of living. This article will cover some of the more popular locations that will reduce your monthly expenses.

Vietnam

The first country on our list is Vietnam. While some older generations might not want to move here due to America’s history with the country, it’s become quite popular with younger people. There is much to explore and tons of local cuisine to try out. In fact, most of these places charge as little as $1 for a meal. On the expensive end, you should never pay more than $10.

Rent is also quite cheap, at around $250 for a small apartment. Other necessities like groceries and taxi fees are also quite low. While pay for jobs in this country might be a little on the lower end as well, if you can work remotely for an American company, you will have it made here.

Thailand

If you’re not crazy about Vietnam but love the South Asian area, Thailand is another excellent choice. This country is well-known for having an extremely cheap cost of living. A perfect example is Chiang Mai, one of its largest cities. People who live there have said that a person can quite comfortably live on just $600 a month. In most big cities in the US, rent alone costs more than double that.

South Korea

One Asian country that might shock you on this list is South Korea. Rent can be as little as $375 a month, and restaurant meals start at around $6. While this might be some of the more expensive options on our list, it’s still quite cheap, especially considering that salaries for jobs in this country are much higher than in others.

Portugal

It may surprise some to learn that a European country is among the countries that have the lowest cost of living. The cost of living in Portugal is a bit higher than others on this list, at just over a $1,000 dollars per month for one person, but that’s if you live in the city. In rural areas, it can drop as low as a few hundred dollars.

Even though Portugal isn’t many people’s first choice to visit in Europe, it’s actually quite beautiful, and many other popular countries are a cheap plane ride away.

Mexico

Finally, if you don’t want to move too far away from the United States, Mexico is close and really cheap overall. Even if you decide to live near one of their scenic ocean vistas, the cost of living in a place like Puerto Vallarta is surprisingly low. Plus, since you’ll be in the same time zone range as your American company, it’ll be very easy to hold onto your high-paying job.

When you’re somebody who travels often, you’ve likely considered moving to one of the wonderful places you’ve visited before. Well, now that inflation is going up around the world, it might be a good time to move somewhere that is a bit cheaper. Granted, inflation is likely also affecting that area, but at least it’s less extreme.

Regardless, to figure out where you should move, you need to know which countries have the cheapest cost of living. This article will cover some of the more popular locations that will reduce your monthly expenses.

Vietnam

The first country on our list is Vietnam. While some older generations might not want to move here due to America’s history with the country, it’s become quite popular with younger people. There is much to explore and tons of local cuisine to try out. In fact, most of these places charge as little as $1 for a meal. On the expensive end, you should never pay more than $10.

Rent is also quite cheap, at around $250 for a small apartment. Other necessities like groceries and taxi fees are also quite low. While pay for jobs in this country might be a little on the lower end as well, if you can work remotely for an American company, you will have it made here.

Thailand

If you’re not crazy about Vietnam but love the South Asian area, Thailand is another excellent choice. This country is well-known for having an extremely cheap cost of living. A perfect example is Chiang Mai, one of its largest cities. People who live there have said that a person can quite comfortably live on just $600 a month. In most big cities in the US, rent alone costs more than double that.

South Korea

One Asian country that might shock you on this list is South Korea. Rent can be as little as $375 a month, and restaurant meals start at around $6. While this might be some of the more expensive options on our list, it’s still quite cheap, especially considering that salaries for jobs in this country are much higher than in others.

Portugal

It may surprise some to learn that a European country is among the countries that have the lowest cost of living. The cost of living in Portugal is a bit higher than others on this list, at just over a $1,000 dollars per month for one person, but that’s if you live in the city. In rural areas, it can drop as low as a few hundred dollars.

Even though Portugal isn’t many people’s first choice to visit in Europe, it’s actually quite beautiful, and many other popular countries are a cheap plane ride away.

Mexico

Finally, if you don’t want to move too far away from the United States, Mexico is close and really cheap overall. Even if you decide to live near one of their scenic ocean vistas, the cost of living in a place like Puerto Vallarta is surprisingly low. Plus, since you’ll be in the same time zone range as your American company, it’ll be very easy to hold onto your high-paying job.

What do you think?

Written by Logan Voss

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