11 Cheapest Countries to Live in 2022 Update

– Cheapest Country to Live in –

Looking for the cheapest country to live in can be difficult, which led us to find ways to help relieve that burden from you and give you the satisfaction you need.

Several people presume that living overseas will be prohibitively costly, and indeed, if you choose pricey places, your hard-earned money may not stretch that far.

You might be amazed how well you can live on a moderate wage if you avoid them and stick to some of the cheapest countries to live in.

If you’re accustomed to living lavishly, you’ll need to prepare yourself to adjust to life in a low-cost nation. Additionally, seek high-paying positions so that you might save, spend less, and invest.

We’ve put together a list of some of the cheapest countries you can live in, in comfort with your daily or monthly income.

Cheap Countries you Can Live in

Below are some of the cheapest countries in the world we’ve put together that you can live in…

1. Bulgaria

Bulgaria is a country in Southeast Europe, legally known as the Republic of Bulgaria. Sofia is the country’s capital and largest city; Plovdiv, Varna, and Burgas are all important cities.

With nations like Greece, Turkey, and Romania on your doorstep, a small budget may allow you to live like royalty in Bulgaria, and the nation’s central position is ideal for exploring the area.

Bulgaria has a rich and dynamic history that dates back over 8,000 years, so you’ll have enough to do throughout your vacation.

Cost of living: Rent a 1-bedroom apartment starts at $230 per month, a meal in an inexpensive restaurant will set you back around $5 and a trip on public transport can cost as little as $1.

READ ALSO!!!

2. Portugal

Portugal, legally the Portuguese Republic, is a state in southwestern Europe whose heartland is situated on the Iberian Peninsula and whose border also includes the Azores and Madeira archipelagos in the Atlantic.

Portuguese is the official and national language. The capital and largest city of Portugal is Lisbon. It is not only beautiful but also one of the cheapest countries to live in.

Cost of living: The cost of living in Lisbon is $1,011

3. Costa Rica

Costa Rica is a Central American country that is legally known as the Republic of Costa Rica.

Its laid-back attitude complements the country’s coastlines and wildlife nicely. Ecotourism flourishes whether you enjoy hiking, sea kayaking, or surfing.

Expats are particularly pleased with Arenal, Jaco, Tamarindo, Escazu, and Heredia if city life is your thing. 

Cost of living: A meal in a local restaurant will cost around $3-6, rent runs from $300-800 per month depending on the size of the apartment and location, local transportation starts from $0.70 per trip.

A one-bedroom apartment in Playa Jaco’s core would set you back between $400 and 530 a month.

READ ALSO!!!

4. Panama

Panama is a transcontinental nation in Central and South America that is bounded on the west by Costa Rica, on the southeast by Colombia, on the north by the Caribbean Sea, and on the south by the Pacific Ocean.

The country’s capital and largest city, Panama City,  is home to about half of the country’s 4 million residents. The country has an eloquent lifestyle and is another cheapest Country to live in.

Cost of living: In the City, a couple can live on a monthly budget of as little as $1,700. A single could shave about 20-30% off those numbers. The cost is even more affordable in other parts of the country.

In Volcán, a couple can escape to an enjoyable, peaceful life on a monthly budget of $1,514. Another advantage to the country is zero income tax if you earn revenue in other countries.

5. Mexico

Mexico, legally the United Mexican States, is a country in the southern portion of North America.

Cities preferred by ex-pats, outside of Mexico City, include San Miguel de Allende, Puerto Vallarta, Playa Del Carmen, Puebla, and Merida.

Cost of living: The average cost of living in Mexico City is $475

6. Thailand

Thailand is a nation in Southeast Asia that is known today as the Kingdom of Thailand. Bangkok is the capital and largest city in Thailand.

Thailand would be absent from any list of the world’s greatest and cheapest countries if it weren’t mentioned. Travelers from all over the world have fallen in love with the Land of Smiles even before the film “The Beach.”

Even in large cities like Bangkok and Chiang Mai, living costs are quite affordable. Beach resorts are significantly more expensive than other beach resorts across the world, yet they are still inexpensive.

READ ALSO!!!

Thailand is an ideal country to live and work in because of its crystal blue seas, rich culture, and delicious cuisine. Thailand is also one of the cheapest and safest countries in the world.

Cost of living: It’s possible to live perfectly well on $600 to $679/Month. You can find $1 meals at street stalls, markets, and food courts in malls.

Rent can be as low as $150 per month for your own studio in a Western-style complex. A ride on a public bus starts at around $0.30.

7. Malaysia

Malaysia is a country in Southeast Asia. With a population of over 32 million, Malaysia is the world’s 44th-most populous country. In the tropics, Malaysia is one of 17 megadiverse countries, home to a number of endemic species.

Cost of living: Next on the list is Malaysia, costing as little as $588 a month for basic accommodation and living expenses. 

8. Vietnam

Vietnam, legally the Socialist Republic of Vietnam, is a country in Southeast Asia. Its capital is Hanoi and its largest city is Ho Chi Minh City.

Cost of living: As with most countries, the cost of living in Vietnam depends on the city or region you choose to spend time in. Cities like Ho Chi Minh and Hanoi are of course more expensive than rural locations, but the pay is also higher.

A small apartment can be rented for around $250 a month while eating out costs are around $1–3 per meal if you stick to local restaurants or street food, and around $10 at Western-style restaurants.

Transportation is very cheap, with local public transport starting at around $0.30 and taxis from just $0.50 per kilometer.

Vietnam will cost you all of $500 to live in for an entire month, as it’s one of the cheapest countries in the world by far. 

READ ALSO!!!

9. Cambodia

Cambodia is centrally located in South East Asia and is also known as “Kampuchea, or the Kingdom of Cambodia. 

It’s approximately 181,035 square kilometers in area and borders Thailand, Laos, Vietnam & The Gulf Of Thailand. 

Cambodia’s capital city is Phnom Penh and its total population is around sixteen million people.

Cost of living: $812/Month

Overall, the cost of living in Cambodia is very cheap, costing under $1,000 a month. 

Renting a small one-bedroom studio apartment in one of the cheapest cities in Cambodia, Sihanoukville, will cost you around $246 a month, or $32 a night in an Airbnb.

10. Peru

Peru is a country located in the western part of South America. It borders, Ecuador, Colombia, Brazil, Bolivia, Chile, and the Pacific Ocean. 

Cost of living: $543/Month

For an average living cost of around $543 a month, this Spanish-speaking country is well worth checking out if you’re looking for a cheap place to live.

When booking your accommodation, you’ll be looking at spending around $198 a month for a one-bedroom apartment in the city center, or $24 a night for an Airbnb. These prices are based on the city of Arequipa. 

Whilst you’re there, you going to need to eat and drink. A normal size beer will cost you around $1.47, a coffee is approximately $0.98, and a meal out can be as little as $2.94. 

11. Nepal

Nepal is located in South-East Asia, mainly in the Himalayas, but also includes parts of the Indo-Gangetic Plain. 

It has a total current population of 29.3 million people living across a total landmass of 147,181km². 

Bordering China and India, Nepal is the forty-eighth largest country by population and the ninety-third largest country by area in the world, and actually, one of the cheapest co

Cost of living:  The cost of living in Nepal is $450/Month. Breaking the $500 a month mark in Nepal, which is one of the cheapest countries to live in worldwide.

$164 will get you a one-bedroom studio apartment or you’ll spend approximately $23 a night in an Airbnb. One beer will cost you around $1, coffee is approximately $0.73, and a meal out can cost around $2.08. 

When looking for the cheapest nations, please remember that you also have a huge role to play in being able to live on a budget.

Remember to also have a good time and appreciate the unusual sights and cuisine in every nation you visit.

Frequent Asked Questions 

Below are the most frequently asked questions About the Country’s Financial Adaptability.

In which countries is it possible to live under the US $100 a month?

There are several in South East Asia and Central America. In Nigeria the average salary of most people (even graduates) per month is about $50 to $100 per month working full time as a family man/woman because of exchange rates you could live quite comfortably every month.

Where is the best place to live under $200 monthly?

Cambodia, Mexico, Nicaragua or Vietnam is very cheap places. 

What is the cheapest place for ex-pats to live right now?

Below are some of the cheapest places for expats to live right now
 
▸Vietnam
▸Costa rica
▸Bulgaria
▸South korea
▸Peru
▸Poland
▸Mexico
▸South Africa
▸China
▸Thailand

Which city in western Europe can I live in under $1000/month?

Here are some cities in wwestern europe you can live in with a budget of under $1000/month
 
▸Hungary
▸Estonia
▸Lithuania
▸Czechia
▸Spain
▸Portugal
▸Slovenia
▸Slovakia
▸Latvia
▸Romania

What is the cheapest country to retire to on 600 USD monthly?

These are some cheap countries you can retire to on 600USD monthly
 
▸India
▸Ukraine
▸Russia
▸Brazil
▸Uruguay.
▸Lexington, Kentucky
▸Blanco, Texas
▸Lake Geneva, Wisconsin (not lake property)
▸Fayetteville, Arkansas
▸Montrose, Colorado
▸Greenville, South Carolina

I hope we’ve been able to help you with this information. Please share with your family, friends, and colleagues.

StudentsandScholarship Team.