The rising cost of living in the United States is prompting many Americans to seek ways to save money, including exploring the possibility of relocating abroad.
The good news is that moving to certain international locations can indeed offer significant cost savings.
However, the goal isn’t just finding the cheapest place; many also desire destinations that are great travel spots and offer a desirable lifestyle.
This list, compiled by U.S. News & World Report based on a global survey of over 17,000 people, identifies countries that are both economical and loved by tourists, combining affordability with appeal.
Notably, the United States didn’t even make the top 50 in the broader ranking from which these countries were drawn.
The survey used data from a “best countries” analysis, asking participants to associate attributes like friendliness, affordability, and quality of life with different nations.
Here are the 17 inexpensive countries worth considering, based on their ranking for affordability combined with desirable attributes:
1. Thailand
Thailand ranks as the most affordable country in the world on this list. Its name translates to “land of the free”. Known for its delicious cuisine and friendly faces, Thailand is a popular destination for various reasons.
In the larger U.S. News survey, it received high marks in the adventure, quality of life, and cultural influence categories.
This combination of being inexpensive and offering desirable attributes makes Thailand a compelling option for those looking to move abroad.
2. Vietnam
Ranked as the second most affordable country, Vietnam offers a low cost of living, making it ideal for anyone looking to save money.
Beyond its affordability, Vietnam features plenty of picturesque landscapes to explore, along with delicious food and opportunities for adventurous activities.
Rent, public transportation, and street food are highlighted as significantly cheaper compared to costs in other countries, particularly when benchmarked against the US.
3. Philippines
Comprised of thousands of islands located in the South China Sea, the Philippines is identified as one of the most affordable countries in which to reside. This island nation ranks high in the survey categories of adventure and adaptability.
Furthermore, the Philippines is considered a favorable environment for those looking to start a business, partly due to its cheap manufacturing costs. Its archipelagic nature provides diverse settings for potential residents.
4. Indonesia
Indonesia is another cluster of islands that offers a vibrant way of life at a lower cost. Expats residing in Indonesia can enjoy the country’s tropical climate, abundant natural beauty, and diverse cultures.
All of this is available with a relatively low cost of living. This makes Indonesia an attractive option for those seeking both an engaging environment and financial manageability abroad.
5. India
Home to the world’s largest democracy and the birthplace of multiple religions, India rounds out the top five most affordable countries globally.
India possesses a fast-growing, diverse economy which presents numerous opportunities for newcomers.
However, its dense population in many urban areas might lead some expats to prefer considering countryside settings for residence. India offers a rich cultural and economic landscape.
6. Malaysia
Malaysia, though geographically small, possesses a rapidly growing economy which makes it an appealing place to live.
The country received high marks for providing a comfortable retirement, suggesting it could be a suitable place for retirees to settle down.
Its economic dynamism combined with factors supporting a comfortable lifestyle contributes to its appeal as an affordable place to reside.
7. Turkey
Acting as a unique bridge connecting Asia and Europe, Turkey is highlighted as one of the most affordable countries worldwide. It was ranked number eight on U.S. News and World Report’s Best Countries for Heritage list.
Turkey received high marks for being culturally accessible, offering delectable food, and featuring numerous cultural and geographic attractions that add to its appeal.
8. China
China holds the world’s second-largest economy, surpassed only by the United States. It is also home to some of the planet’s oldest civilizations.
While China is noted as an affordable place to live, eat, and explore, political freedom remains tightly controlled.
Prospective residents should consider potential restrictions they may face, particularly regarding internet usage, before deciding to move.
9. Mexico
Located as a neighbor to the US, Mexico is a popular vacation spot but is also recognized as an affordable place to live.
It boasts the world’s largest population of Spanish speakers. According to Forbes, Mexico also has one of the largest expat populations globally.
Several places within Mexico allow one to live on less than $1,250 per month, covering essential expenses like rent, groceries, transportation, and utilities.
10. Cambodia
Cambodia is described as predominantly rural. It offers an affordable cost of living, especially when compared to Western countries.
The country features a tropical climate and has a growing economy, contributing to it being an enjoyable place to reside.
Newcomers arriving in Cambodia can often find a strong sense of community support available to help them settle in.
11. Bangladesh
The People’s Republic of Bangladesh is listed among the world’s most affordable countries. Living there can provide a vibrant experience and exposure to lush greenery.
However, potential expats should be aware that challenges such as dense populations in some areas and the risk of natural disasters pose issues for some residents.
12. Argentina
Ranking highly in the adventure and heritage categories, Argentina is known as an affordable country to call home.
The cost of living in Argentina is significantly lower than in the US, estimated to be 62% less. Rent, specifically, is reported to be even lower, approximately 85% less than in the United States.
13. Morocco
Located in North Africa, Morocco is presented as another country where living expenses won’t be excessively high. It offers enchanting mountain scenery and vibrant open-air marketplaces.
Coupled with recent economic progress, these elements make Morocco a fascinating and financially accessible place for individuals considering a move abroad.
14. Brazil
For those seeking a thrilling place to live that is also affordable, Brazil is highlighted as a potential option. Brazil was ranked number one overall on U.S.
News & World Report’s Best Countries for Adventure list. It occupies a substantial portion of South America’s landmass and is considered one of the top ten countries globally in which to start a business.
15. Chile
Individuals who enjoy the outdoors would likely appreciate living in Chile due to its stunning natural landscape.
Besides its scenic beauty, Chile is noted for having a stable economy and a decent healthcare system. It is also one of the most affordable countries to call home. The culture is generally welcoming to newcomers.
16. Sri Lanka
Located near India, Sri Lanka is specifically noted for being notably affordable. The cost of rent in Sri Lanka is considerably lower than in the United States, averaging 87.5% less.
The overall cost of living in the country is just over half the cost compared to living in the US.
17. Peru
Peru is presented as an exciting and affordable destination located in South America. The country offers diverse natural environments, ranging from mountains to jungles and coastal beaches, providing ample opportunities to connect with nature.
Additionally, low taxes and inexpensive daily living contribute positively to managing finances while residing there.
Alicia Richards