First Things First!
When it comes to choosing a place to live, affordability is a key factor that can significantly impact your quality of life. Whether you’re a digital nomad, a retiree looking to stretch your retirement savings, or someone simply seeking a change of scenery without breaking the bank, there are plenty of low-cost countries around the world that offer a high quality of life. In this comprehensive guide, we’ll explore the cheapest countries to live in. Let’s dive right into it!
Best Low-cost Countries To Live in:
1. Vietnam: Southeast Asia’s Hidden Gem
Vietnam deserves the number one spot on our list of the best low-cost countries to live in. This Southeast Asian gem has been gaining popularity among expats and travelers for its affordability, natural beauty, and rich culture.
Cost of Living: Vietnam offers an incredibly low cost of living, making it an attractive destination for budget-conscious individuals. You can rent a comfortable apartment in the heart of Hanoi or Ho Chi Minh City for as little as $300 to $500 per month, making them few of the cheapest cities to live in. Basic groceries won’t set you back more than $100 a month, and eating out at local street stalls is a delicious and affordable option. Also, this can be used as a monthly budget for two people.
Healthcare: The healthcare system in Vietnam is surprisingly good, especially in major cities like Hanoi and Ho Chi Minh City. Medical services are not only of high quality but also very affordable. Many expats find themselves saving significantly on healthcare costs compared to their home countries.
Natural Beauty: From the stunning limestone karsts of Halong Bay to the lush greenery of the Mekong Delta, Vietnam boasts breathtaking natural beauty. Outdoor enthusiasts will find plenty of opportunities for hiking, exploring caves, and enjoying pristine beaches.
Cultural Richness: Vietnam’s rich cultural heritage is evident in its ancient temples, bustling markets, and traditional festivals. The locals are known for their warm hospitality and welcoming nature, making it easy for expats to immerse themselves in the local culture.
Food Heaven: Vietnamese cuisine is renowned worldwide for its fresh ingredients and bold flavors. You can savor a bowl of pho at a street-side vendor for less than $2, and the country’s diverse culinary offerings will keep your taste buds delighted.
Visa Options: Vietnam offers various visa options, including tourist visas and long-term visas for retirees and expats. The visa process is relatively straightforward, and many expats find it easy to stay long-term.
Language Barrier: While English is not widely spoken in Vietnam, especially in rural areas, you can get by with basic English in major cities. Learning a few Vietnamese phrases will go a long way in building rapport with the locals.
Safety: Vietnam is generally considered safe for expats. However, like in any other country, it’s essential to take common-sense precautions and be aware of your surroundings.
Conclusion: Vietnam is an excellent choice for those seeking an affordable and vibrant lifestyle in Southeast Asia. With its low cost of living, stunning landscapes, and rich culture, it’s no wonder that Vietnam takes the top spot on our list of the best low-cost countries to live in.
2. Mexico: Where Culture Meets Affordability
Cost of Living: Mexico has long been a favorite destination for retirees and expats from North America due to its proximity and affordable cost of living. Depending on your location within Mexico, you can find comfortable housing options ranging from $500 to $1,000 per month. Groceries and dining out are also budget-friendly.
Healthcare: Mexico boasts a well-developed healthcare system with modern hospitals and clinics. Medical services in Mexico are high-quality and often a fraction of the cost in the United States or Canada. Many expats opt for private healthcare plans that are surprisingly affordable.
Cultural Richness: Mexico is famous for its rich cultural heritage, from vibrant festivals to historic ruins. The local cuisine is a delight for food lovers, and you’ll never tire of trying the endless varieties of tacos, tamales, and other traditional dishes.
Natural Beauty: Mexico offers diverse landscapes, from the beaches of the Yucatan Peninsula to the mountains of Oaxaca. Whether you’re into water sports, hiking, or simply lounging on the beach, Mexico has it all.
Visa Options: Mexico has various visa options, including temporary resident visas and permanent resident visas. The process can be straightforward, especially for retirees and individuals with a stable income.
Language: While Spanish is the official language, many areas in Mexico, especially tourist destinations, have a significant English-speaking population. Learning some basic Spanish will enhance your experience, but you can get by with English in many places.
Safety: Mexico’s safety situation can vary by region, so it’s crucial to research your chosen destination thoroughly. Popular expat havens like Playa del Carmen, Merida, and San Miguel de Allende are generally safe and welcoming.
Conclusion: Mexico’s blend of affordability, culture, and natural beauty makes it a top choice for expats looking for a low-cost yet fulfilling life in North America. Whether you’re retired or working remotely, Mexico offers a warm and inviting atmosphere.
3. Portugal: Europe’s Hidden Gem
Cost of Living: While Western Europe tends to be expensive, Portugal is a notable exception. The cost of living in Portugal is significantly lower than in many other European countries. Rent, groceries, and dining out are all budget-friendly.
Healthcare: Portugal boasts an excellent healthcare system, with modern facilities and well-trained medical professionals. Expats have access to both public and private healthcare options, with costs generally lower than in the United States.
Natural Beauty: Portugal is known for its stunning landscapes, including pristine beaches, rolling vineyards, and historic cities. The Algarve region, in particular, is famous for its beautiful coastline and mild climate.
Cultural Heritage: Portugal’s rich history is evident in its historic cities like Lisbon and Porto, with their charming cobblestone streets and ancient architecture. The country is also famous for its delicious cuisine, including pastries like pastéis de nata.
Visa Options: Portugal offers several visa options for retirees, freelancers, and remote workers. The Golden Visa program, which grants residency to those who invest in Portuguese real estate, has become popular among expats.
Language: Portuguese is the official language, but many Portuguese people speak English, especially in urban areas. Learning some basic Portuguese will enhance your experience and help you connect with locals.
Safety: Portugal is considered one of the safest countries in Europe, with low crime rates and a welcoming atmosphere for expats.
Conclusion: Portugal’s affordability, natural beauty, and rich culture make it a hidden gem in Europe for those seeking a low-cost and high-quality lifestyle. Whether you’re drawn to the coastal beauty or the historic cities, Portugal has something to offer everyone.
4. Thailand: The Land of Smiles
Cost of Living: Thailand is a popular destination for budget-conscious travelers and expats. The cost of living is remarkably low, with affordable accommodation, inexpensive street food, and cheap transportation options.
Healthcare: Thailand is renowned for its world-class healthcare facilities and medical tourism. Even without insurance, medical costs are often a fraction of what you’d pay in Western countries.
Cultural Diversity: Thailand’s cultural diversity is a significant draw for expats. From the bustling markets of Bangkok to the tranquil temples of Chiang Mai, there’s always something new to explore.
Natural Wonders: Thailand’s natural beauty is unparalleled, with pristine beaches, lush jungles, and stunning islands like Phuket and Koh Samui. Outdoor enthusiasts will find endless opportunities for adventure.
Visa Options: Thailand offers various visa options, including tourist visas, retirement visas, and work visas. The process can be relatively straightforward, depending on your circumstances.
Language: While Thai is the official language, many people in the tourist and expat areas speak English. Learning a few basic Thai phrases will be helpful for day-to-day interactions.
Safety: Thailand is generally safe for expats and tourists, but like any destination, it’s essential to exercise caution and be aware of your surroundings.
Conclusion: Thailand’s combination of affordability, cultural richness, and natural beauty has made it a top choice for expats in Southeast Asia. The friendly locals and diverse experiences ensure that the Land of Smiles lives up to its name.
5. Colombia: South America’s Best-Kept Secret
Cost of Living: Colombia is one of South America’s most affordable countries to live in. Housing, transportation, and groceries are all reasonably priced, making it an attractive option for expats.
Healthcare: Colombia’s healthcare system has made significant improvements in recent years. Medical services are of good quality and much more affordable than in many Western countries.
Cultural Diversity: Colombia is a country of diverse cultures and landscapes. From the historic streets of Cartagena to the bustling city life of Medellin and the Amazon rainforest, there’s something for everyone.
Natural Beauty: Colombia is a treasure trove of natural wonders, from the lush coffee plantations of the Andes to the pristine beaches along its Caribbean and Pacific coasts. Adventure seekers will find plenty of opportunities for hiking, trekking, and more.
Visa Options: Colombia offers various visa options, including retirement visas and work visas. The process can be relatively straightforward, and the government has been working to attract more expats.
Language: Spanish is the official language, but you’ll find that many Colombians are eager to practice their English with expats. Learning some Spanish will help you navigate daily life.
Safety: Colombia has made significant strides in improving safety, but it’s still essential to exercise caution, especially in certain areas. Stick to well-traveled destinations, and you’ll find that safety concerns are often exaggerated.
Conclusion: Colombia is an underrated gem in South America, offering affordability, cultural richness, and natural beauty. The warm and welcoming locals make it a fantastic destination for expats looking for an enriching experience.
6. Malaysia: A Blend of Modernity and Tradition
Cost of Living: Malaysia offers a unique blend of modern living and affordability. Kuala Lumpur, the capital, provides a range of housing options at various price points. Groceries and dining out are also budget-friendly.
Healthcare: Malaysia boasts modern healthcare facilities, with well-trained medical professionals. Medical costs are relatively low, and many expats find the healthcare system to be efficient.
Cultural Diversity: Malaysia’s multicultural society is a highlight for many expats. With a mix of Malay, Chinese, Indian, and indigenous cultures, you’ll experience a rich tapestry of traditions and festivals.
Natural Beauty: Malaysia’s diverse landscapes include pristine beaches, lush rainforests, and the stunning Cameron Highlands. Outdoor enthusiasts will find plenty of opportunities for hiking, jungle trekking, and water sports.
Visa Options: Malaysia offers various visa options, including retirement visas and long-term social visit visas. The process can be straightforward, especially for retirees and those with stable incomes.
Language: While Malay is the official language, English is widely spoken, especially in urban areas. You’ll have no trouble communicating and navigating daily life.
Safety: Malaysia is generally safe for expats, with low crime rates and a welcoming attitude toward foreigners.
Conclusion: Malaysia’s unique combination of modernity, affordability, and cultural diversity makes it an excellent choice for expats looking to experience Asia without breaking the bank.
In Summary
When it comes to choosing the best low-cost country to live in, you have a plethora of options to consider. From the bustling streets of Vietnam to the stunning landscapes of Colombia, these countries offer affordable living without compromising on quality. Each destination has its unique charm, cultural richness, and natural beauty, making it possible to find the perfect fit for your lifestyle and budget. So, whether you’re dreaming of a serene retirement or an adventurous change of scenery, one of these countries could be your next home. It’s time to embark on a new adventure and discover the world while living affordably and enjoying a fulfilling life abroad.
