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18 Cheapest Countries In the World to Live In

Are you a travel junkie who always desires foreign adventures and to explore new countries? What if we told you that visiting some countries and exploring them is more affordable than you think. Yes, you read it right. In this article, we have put together a list of the 18 cheapest countries in the world in 2022.

Costa Rica

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Lush green natural views, tropical beaches, and extremely hospitable culture, everything about Costa Rica will make you fall in love with it. It is one of the most popular countries in South America. The place is very famous for its topographical features. The landscape of the country is rugged and rainforested. The charm of the country’s natural features is further uplifted by the coastlines on the Caribbean sea and Pacific ocean

Cost of Living in Costa Rica: if you are having a meal at a local restaurant, it will be around $3-6, rent per month for a home is from $300-800. It depends on the size of the place as well as its location. 

Mexico

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Mexico is a vibrant country, which offers something to everyone. Whether you are an adventure seeker or just love traveling, the country would surely fascinate you. You can explore the Mayan ruins in the jungle, or sit by the beach to enjoy turquoise Caribbean waters. And of course, let’s not forget about the tantalizing variety of street food. There are many things you can do in Mexico that won’t put a dent in your wallet.

Cost of Living in Mexico: If you are planning to rent a one-bedroom apartment in Mexico, it will cost you $200-$500 a month. Transport is also affordable in the country. A monthly pass for local transportation service costs as low as $16.

South Africa

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If you are planning to move to South Africa, then you won’t be going through the struggle of the language barrier. It is where English is spoken. In fact, it is one of the cheapest countries in the world to live in where English is one of the official languages. Despite the fact that the cost of living in South Africa is highly affordable but there are many cities in the country that have high living standards.

Cost of Living in South Africa: Looking for a 1-bedroom apartment for rent in South Africa, it can cost you $350-500 a month on average. Also, if you decide to have a meal at a local restaurant, it starts at $8.

Thailand

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Thailand is a country where every list that talks about the best and cheapest countries in the world is incomplete without mentioning it. Travelers from different parts of the world who love nature and pristine beaches surely love to visit the country. If you are planning to visit Thailand anytime soon, you should be aware of the fact that living expenses here are incredibly low, even if we talk about big cities, such as Bangkok and Chiang Mai.

Cost of Living in Thailand: You may order a meal from a local restaurant or a street stall for as low as $1. Rental properties are also affordable in the country. The monthly rents can be as low as $150.

China

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A lot of people may not be planning to move to China but the thing is, it is a country that offers job opportunities with high salaries and has a very affordable lifestyle. In fact, salaries in China are higher than in many other Asian countries. China offers many different opportunities to expats in the form of work abroad programs, which host different types of events every now and then. Let’s take a look at the living expenses of one of the cheapest countries in the world.

Cost of Living in China: It is surprisingly low, especially if you are not planning to be a part of big and overcrowded cities. You can rent a 1-bed apartment for as low as $300, and a meal per person in a local restaurant starts at $3.

South Korea

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Actually, South Korea may not be the cheapest country to live in but the country offers very competitive wages and salaries, which automatically brings down the graph of living expenses there. There are even different programs for the working class that offer them free accommodation. The country is not only home to some of the most ultramodern metropolises in the world but is also a wonderland of nature with the scenic countryside. Korean food is also famous internationally.

Cost of Living in South Korea: The country may have higher living standards than many other Asian countries but it is affordable. For instance, the monthly rent for a 1-bed apartment starts at around $375, whereas a meal at a local restaurant may cost you around $6.

Peru

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Peru is a very ideal country for American expats because the cost of living and doing different activities in the country is very low. It is among the cheapest countries in the world to work and live in. Many different types of tourism and adventurous activities like hiking the Inca Trail or exploring the historical attractions of Machu Picchu are also quite affordable there. You would surely have a good time during your stay in Peru. It is also one of the most beautiful countries you need to visit at least once in your life.

Cost of Living in Peru: If you are looking to rent a 1-bedroom apartment in Peru, it would cost you as low as $250, On the other hand, a single meal serving in a local restaurant is for around $1-3.

Poland

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If you are looking to live and work in an affordable European country, then you should definitely consider Poland as your option. It is mainly because it is one of the cheapest countries in the world. Asides from being affordable, In fact, Poland is among the best European Countries worth visiting with a lot to explore. Talking about a couple of its major cities like Warsaw and Krako, they are home to all the ultramodern amenities that can be availed for a very reasonable price. It is one of the EU member countries that is a part of the Schengen zone, which means you can get visa-free entry to Poland for a limited time period.

Cost of Living in Poland: A 1-bed apartment can cost you around $350 per month. Whereas, a meal out from a local eatery starts at only $5.

Pakistan

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GoBankingRates Company, which is one of the leading global financial institutions, rated Pakistan as ‘the cheapest country in the world to live in.’ There were many different factors that are carefully considered before releasing any rating related to the cost of living in a particular country. Pakistan is mainly an agricultural country and grows many different crops and vegetables, which naturally makes the basic commodities market here cheaper than in many other countries.

Cost of Living in Pakistan: If you are planning to rent a 1-bed apartment in a major city in Pakistan, like Lahore or Karachi, it usually costs you around $80-150. A meal from a local restaurant will be as low as $1 per person.

Sri Lanka

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When it comes to rich culture, natural biodiversity, and tea plantations, the name of Sri Lanka stands out. It is one of the most famous island nations in the world, enjoying proximity to India. Owing to its unique location and natural formation, the island on which Sri Lanka is based is also known as the “Pearl of the Indian Ocean”. Living in Sri Lanka is inexpensive if you prefer a simple lifestyle.

Cost of Living in Sri Lanka: Renting a 1-bed apartment would cost you around $200. Similarly, if you are in the mood for a filling meal from a local restaurant in Sri Lanka, it would cost you as low as $2.

Turkey

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Turkey is one of the most beautiful countries in the world. It is home to some of the most famous global tourist attractions. However, it is no less than a surprise for many people that travel expenses in Turkey are far cheaper than in other European countries that are nearby. Despite affordable prices, Turkey offers many similar recreational activities, luxurious, and comforts. In fact, according to CEOWORLD magazine, Turkey was termed as the second most affordable European country. Not to mention, it is also one of the cheapest countries in the world. 

Cost of Living in Turkey: If you want to live in a 1-bed apartment in Turkey, it will cost you around $150-250. A single meal from a local market is available for around $3.

India

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Like Pakistan, India is also an agricultural country, the economy of which is largely based on locally grown crops and other edible items. This naturally brings down the cost of basic commodities in the country. We are all aware of the fact that developing countries usually have weaker currencies, which typically results in higher inflation rates than many other advanced countries. Still, the cost of living in India and other similar countries in the developing world is quite reasonable. 

Cost of Living in India: Renting a 1-bed apartment in India in a major metropolitan area starts at around $150. On the other hand, you can easily have a meal twice a day in an inexpensive restaurant for as low as $1.

Syria

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One of the war-stricken countries, Syria is among the cheapest places to live. The cost of living in Syria is over 50 percent less than in the United States. Damascus, which is the administrative capital of the country, is also one of the cheapest cities in the world. It is also very cheap for people visiting the country. Whether it is about finding a place to live or arranging a meal, everything in Syria is just so affordable. 

Cost of Living in Syria: Living expense greatly depends on how much you pay for your rental space. In Syria, a 1-bed apartment could cost you around $100. A meal at a local restaurant starts at $5.

Malaysia

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Along with being one of the most beautiful and popular tourist destinations in South East Asia, Malaysia is also an affordable country to both live in and visit. Of course, your expenses may go up and down depending on what you spend on and what your total spending will be at the end of the day. It all comes down to your travel style as well as preferences. Generally speaking, Malaysia is certainly a budget-friendly country in every aspect. Now let’s take a look at the basic breakdown of living expenses in Malaysia. 

Cost of Living in Malaysia: For renting a 1-bed apartment in Malaysia, you need to set aside a budget of $200 a month on average. If you are trying a locally prepared cuisine from an inexpensive restaurant, it starts at $2.

Argentina

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As one of the cheapest countries in the world, Argentina can be a quite affordable destination for travelers coming in from developed countries that have high-value currencies. However, it is a bit more expensive when compared to some other South American countries. Let’s suppose, you have a limited budget for your spending per day, you can explore and do a lot, which may include your accommodation charges, public transportation, and meals from a local restaurant.

Cost of Living in Argentina: Average monthly rent for a 1-bed apartment in the country is around $150-200. Buying one time serving of food from an inexpensive eatery starts at $5-6.

Vietnam

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Despite the fact that Vietnam is getting expensive year after year mainly due to weak currency, it is still one of the cheapest countries to visit and live in. If you talk about the country’s living expenses, then you would surely be surprised to know that many items that are used on a daily basis usually cost less than half of the amount you actually pay in the West for similar things. Also, when compared to many other Southeast Asia nations, it is around 5% to 25% cheaper. 

Cost of Living in Vietnam: You can rent a 1-bed apartment in Vietnam for as low as $250 a month, a little far away from the city center. An inexpensive meal from a local restaurant will cost you $2 on average. 

Nepal

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Located in the Indian subcontinent, Nepal is a small country sharing borders with India. Its landscape is mainly based on natural beauty. With rugged and mountainous terrains and lush green valleys, it is certainly a desirable place to visit for adventure-seekers. When it comes to the cost of living, traveling, and exploring in Nepal, it is undoubtedly an affordable destination, which is why we have added it to the list of the cheapest countries in the world. Whether you talk about accommodation or food, everything in the country is pretty cheap in general. 

Cost of Living in Nepal: You can buy a meal from a local restaurant in Nepal for as low as $2, whereas, the rental cost of a 1-bed apartment in the country starts at $100 a month on average. 

Bolivia

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Another interesting contender in our list of some highly affordable destinations in the world is Bolivia. It is certainly the cheapest South American country you would want to explore and even live in if you are able to find a job in the country or you are a digital nomad. If you are planning to adopt a low-profile lifestyle and you are in search of a budget-friendly destination, then you should definitely move to Bolivia and you would feel the difference. Now, let’s give you some quick but significant details about the country’s living expenses.

Cost of Living in Bolivia: If you are looking for a 1-bed apartment in the country, its monthly rent would be around $250. On the other hand, dining at a local restaurant could cost you as low as $3.

Well, that’s a wrap for our round-up of the cheapest countries in the world. Now you know how affordable it can be to explore and live in many different places across the globe. You can also plan a budget-friendly trip to any of the aforementioned destinations and save money on traveling. 

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