Are you dreaming of living abroad but worried about expenses? Moving to a country with a low cost of living allows you to enjoy a comfortable lifestyle without overspending.

This blog by MSM Unify explores the countries with the cheapest cost of living across different continents, including Europe’s most affordable destinations.

Whether you are a student, a retiree, or a digital nomad, this guide can help you determine which country has the cheapest cost of living for your needs.

Top 10 Countries with Cheapest Cost of Living in the World

The cost of living covers essential expenses such as housing, food, healthcare, transportation, and utilities. While these costs vary significantly between countries, countries with cheaper living often have lower labor costs, favorable exchange rates, and government subsidies. Choosing a country involves balancing affordability with access to quality infrastructure and services.

Balancing the affordability of life with available job opportunities are an important concern to most expatriates. Listed below are the top 10 countries that are known for being low on living costs with a high standard of life along with opportunities for jobs available:

Please note: The living costs mentioned in the above table are subject to change as per the country’s requirements.

1. Vietnam

Vietnam is one of the countries in the world which offers the most affordable cost of living making it one of the countries with the cheapest cost of living, along with low-housing prices, mouthwatering street food, and inexpensive modes of transport. Such lively markets and picturesque views are making everyday life affordable and lovely. Be it bustling Hanoi or peaceful country areas, the cost and comfort of living balance itself here in Vietnam.

Total cost of living per month

• Transportation: VND 1,000,000 – VND 3,800,000
• Accommodation: VND 6,300,000 – VND 25,000,000
• Food cost: VND 4,500,000 – VND 15,000,000
• Utilities & Internet: VND 1,300,000 – VND 2,000,000
• Final approximate cost of living per month: VND 15,000,000 – VND 38,000,000

2. Cambodia

Since it is one of the countries with the cheapest cost of living, Cambodia has low rent and cheap local dishes and dishes. Its culture, featuring the still-intact heritage of Angkor Wat, combined with a laid-back way of life, made it very popular among expats and budget travelers.

Total cost of living per month

• Transportation: KHR 100,000 – KHR 380,000
• Accommodation: KHR 630,000 – KHR 2,500,000
• Food cost: KHR 450,000 – KHR 1,500,000
• Utilities & Internet: KHR 130,000 – KHR 200,000
• Final approximate cost of living per month: KHR 1,500,000 – KHR 3,800,000

3. Portugal

Known all over the globe as the cheapest cost of living country in Europe, Portugal offers both cheap housing along with great and warm weather besides a high lifestyle. Its towns like Porto or Lisbon are combined with beauty alongside affordability, reasons why expatriates and other retirees love moving to this fantastic country.

Total cost of living per month

• Transportation: EUR 30 – EUR 100
• Accommodation: EUR 400 – EUR 1,500
• Food cost: EUR 200 – EUR 600
• Utilities & Internet: EUR 80 – EUR 150
• Final approximate cost of living per month: EUR 710 – EUR 2,350

4. Georgia

Georgia is a country that stands out as the cheapest place to live. Its beautiful natural landscapes, affordable rents, and welcoming visa policies attract visitors and long-term residents alike. The local cuisine is also both delicious and inexpensive, which makes it the cheapest cost of living country in the world.

Total cost of living per month

• Transportation: GEL 50 – GEL 150
• Accommodation: GEL 600 – GEL 2,000
• Food cost: GEL 300 – GEL 1,000
• Utilities & Internet: GEL 100 – GEL 200
• Final approximate cost of living per month: GEL 1,050 – GEL 3,350

5. Mexico

Mexico is cute with its lively culture and low cost of living and it stands as an answer to the most common question, which country has the cheapest cost of living? One of the cheapest countries to live in, this is the place with super cheap grocery stores, lively festivals, and white sandy beaches. Its proximity to the U.S. makes things convenient for expats.

Total cost of living per month

• Transportation: MXN 600 – MXN 1,500
• Accommodation: MXN 4,000 – MXN 15,000
• Food cost: MXN 2,500 – MXN 7,000
• Utilities & Internet: MXN 700 – MXN 1,500
• Final approximate cost of living per month: MXN 7,800 – MXN 24,000

6. Bulgaria

Another cheapest cost of living country in Europe is Bulgaria and it is affordable along with a rich history. Utilities, fresh vegetables, and accommodation are at very low prices, making it an excellent choice for budget-friendly living.

Total cost of living per month

• Transportation: BGN 40 – BGN 150
• Accommodation: BGN 400 – BGN 1,200
• Food cost: BGN 250 – BGN 800
• Utilities & Internet: BGN 100 – BGN 200
• Final approximate cost of living per month: BGN 790 – BGN 2,350

7. Indonesia

Tropical environment and cheap prices are surely a wow factor for Indonesia. From serene Bali to lively Jakarta, this is one of those countries that truly are blessed with the cheapest cost of living through cheap local food, raw natural beauty, and housing.

Total cost of living per month

• Transportation: IDR 500,000 – IDR 1,500,000
• Accommodation: IDR 2,000,000 – IDR 8,000,000
• Food cost: IDR 1,500,000 – IDR 4,500,000
• Utilities & Internet: IDR 300,000 – IDR 800,000
• Final approximate cost of living per month: IDR 4,800,000 – IDR 14,800,000

8. Thailand

The country Thailand is affordable and offers good quality of life. Known for its beautiful beaches and hustle-bustle cities, it is one of the most favorite destinations for digital nomads and expats. The reasonable housing and cheap food make the country a viable option for those wanting to live on a budget.

Total cost of living per month

• Transportation: THB 800 – THB 2,000
• Accommodation: THB 8,000 – THB 25,000
• Food cost: THB 3,000 – THB 10,000
• Utilities & Internet: THB 1,000 – THB 2,500
• Final approximate cost of living per month: THB 12,800 – THB 39,500

9. Turkey

Turkey bridges the gap between Europe and Asia, offering affordability and cultural richness. For those wondering which country has the cheapest cost of living, Turkey provides inexpensive rent, delicious cuisine, and a unique historical experience.

Total cost of living per month

• Transportation: TRY 200 – TRY 700
• Accommodation: TRY 2,000 – TRY 7,500
• Food cost: TRY 1,500 – TRY 4,500
• Utilities & Internet: TRY 300 – TRY 1,000
• Final approximate cost of living per month: TRY 4,000 – TRY 13,700

10. Philippines

The Philippines comes with a sunny tropical climate and beautiful beaches besides a relatively inexpensive cost of staying. With everyone speaking English to a considerable level, it comes as an amazing place to enjoy short-term stay or long time.

Total cost of living per month

• Transportation: PHP 1,500 – PHP 5,000
• Accommodation: PHP 12,000 – PHP 45,000
• Food cost: PHP 7,500 – PHP 22,000
• Utilities & Internet: PHP 2,000 – PHP 5,000
• Final approximate cost of living per month: PHP 23,000 – PHP 77,000

Conclusion

Choosing the cheapest cost of living country in the world would bring ease and a sense of new life. Vietnam offers low living costs, Portugal shares affordable living in Europe, and the Philippines offers the cheapest lifestyle. Such places are practical for expats, students, or digital nomads around the globe.

MSM Unify overseas education consultants would be happy to get you on board with these options and decisions to make your transition into your new place smooth and effortless.

FAQs

1. Which country has the cheapest cost of living in Europe?

Portugal is the cheapest cost of living country in Europe. With affordable housing and healthcare, it is a popular choice for retirees and expats.

2. What is the cheapest cost of living country in the world?

Vietnam is considered one of the cheapest countries in terms of cost of living in the world. Expats and budget tourists can enjoy their stay in Vietnam for as little as $500 to maintain monthly expenses.

3. Can I afford the comfort of a cheap country living as an expat?

Absolutely. Countries like Mexico, Georgia, and Vietnam offer the comfort of life with modern amenities along with affordable cost of living.

4. What should I consider when selecting a country to relocate to?

Before choosing a country, factors to consider include visa policies, cost of living, healthcare quality, and cultural fit.

5. How can MSM Unify help me with international transitions?

MSM Unify overseas education consultants will guide you in choosing the right affordable study and living options abroad for a seamless transition for students and professionals.