Living Abroad on a Budget: 5 of the Cheapest Countries for Expats
September 25, 2023
Living abroad can be a dream come true for many people, but the cost of living can often be a barrier to making it a reality. Fortunately, there are countries around the world where you can live comfortably on a budget.
In this post, we’ll be exploring 5 of the cheapest countries for expats to live in. From Southeast Asia to Central and South America, we’ll take a closer look at the cost of living, the quality of life, and the culture of these countries. Whether you’re looking to retire, work remotely, or simply experience a new culture, there is a budget-friendly option for you. Read on to discover the best places to live abroad on a budget.
1. Introduction and why living abroad can be affordable
Living abroad can be an exciting and life-changing experience, but many people think that it’s too expensive to be practical. However, with careful planning and research, it is possible to find affordable options for living overseas.
In fact, many countries offer a lower cost of living compared to the United States, making it possible to stretch your budget further. From lower housing costs to cheaper food and transportation, there are plenty of ways to save money while living abroad.
Not only can living abroad be affordable, but it can also provide a unique opportunity to experience a new culture, explore new places, and broaden your horizons. It can be a great way to learn a new language, make new friends, and gain a fresh perspective on life.
In this article, we’ll explore five of the cheapest countries for expats to live in, so you can start planning your budget-friendly adventure overseas. Whether you’re looking to retire on a fixed income or simply want to explore the world on a budget, living abroad can be an affordable and fulfilling option.
2. Methodology for selecting the countries
When it comes to selecting the cheapest countries for expats, there are many factors to consider. In order to make an informed decision, we used a variety of data points to help us determine the countries that offer the most affordable living options.
Firstly, we looked at the cost of living in each country, including expenses such as rent, transportation, food, and healthcare. We also analyzed the cost of consumer goods, such as clothing and electronics, to get a better understanding of the overall cost of living.
Additionally, we took into account the local economy and job market, as well as the ease of obtaining a visa or work permit for expats. We also considered factors such as safety and quality of life, as these are important considerations for anyone looking to relocate to a new country.
By using a combination of these data points, we were able to compile a list of the five cheapest countries for expats to live in. It’s important to note that everyone’s individual situation and needs are different, so it’s essential to do your own research and consider your personal circumstances before making any decisions about moving abroad.
3. Top 5 countries for living abroad on a budget
For those looking to live abroad on a budget, there are a number of countries that offer a comfortable lifestyle without breaking the bank. Here are the top 5 countries for living abroad on a budget:
1. Thailand – Known for its beautiful beaches, delicious cuisine, and friendly people, Thailand is a popular destination for expats looking to live on a budget. The cost of living is relatively low, with affordable housing and food options.
2. Mexico – With its warm climate, beautiful beaches, and rich culture, Mexico is a great choice for expats looking to live on a budget. The cost of living is low, with affordable housing, food, and transportation options.
3. Vietnam – Vietnam is a great choice for those looking to live in Southeast Asia on a budget. The cost of living is low, with affordable housing, food, and transportation options. The country offers a rich history and culture, with plenty of opportunities for adventure.
4. Colombia – With its vibrant cities, beautiful beaches, and stunning landscapes, Colombia has become a popular destination for expats looking to live on a budget. The cost of living is relatively low, with affordable housing and food options.
5. Portugal – Portugal is a great choice for those looking to live in Europe on a budget. The cost of living is lower than many other European countries, with affordable housing and food options. The country offers a rich culture, history, and beautiful landscapes.
Overall, these countries offer a great balance of affordability and quality of life, making them ideal for expats looking to live abroad on a budget.
4. Overview of each country, including cost of living, healthcare, and safety
When looking for a country to live in as an expat, it’s important to consider the cost of living, healthcare, and safety. Here’s a brief overview of five of the cheapest countries for expats:
1. Thailand: Thailand is a popular destination for budget-conscious expats. The cost of living is low, with affordable housing and food. Healthcare is also relatively inexpensive, with both public and private hospitals available. Safety is generally good, but it’s important to be aware of scams and petty crime in tourist areas.
2. Nicaragua: Nicaragua is one of the cheapest countries to live in Central America. The cost of living is low, with affordable housing, food, and transportation. Healthcare is also inexpensive, although the quality of care can vary. Safety can be a concern in some areas, so it’s important to research neighborhoods before choosing a place to live.
3. Vietnam: Vietnam offers a low cost of living, with affordable housing, food, and transportation. Healthcare is also relatively inexpensive, although the quality of care can vary. Safety is generally good, although petty crime is common in some areas.
4. Bolivia: Bolivia is one of the cheapest countries to live in South America. The cost of living is low, with affordable housing, food, and transportation. Healthcare is also relatively inexpensive, although the quality of care can vary. Safety can be a concern in some areas, so it’s important to research neighborhoods before choosing a place to live.
5. Indonesia: Indonesia offers a low cost of living, with affordable housing, food, and transportation. Healthcare is also relatively inexpensive, although the quality of care can vary. Safety can be a concern in some areas, particularly in some of the larger cities, so it’s important to research neighborhoods before choosing a place to live.
Before choosing a country to live in as an expat, it’s important to do your research and consider your personal priorities and needs. While these five countries offer a low cost of living, healthcare, and safety, they may not be the best fit for everyone.
5. Pros and cons of each country
When it comes to living abroad on a budget, it’s important to weigh the pros and cons of each country before making a decision. Here are some of the pros and cons of each of the cheapest countries for expats:
1. Vietnam – Pros: Low cost of living, delicious food, beautiful scenery. Cons: Language barrier, pollution in cities, traffic can be chaotic.
2. Thailand – Pros: Affordable cost of living, warm climate, friendly locals. Cons: Monsoon season, language barrier, some areas can be touristy and overpriced.
3. Mexico – Pros: Beautiful beaches, friendly people, delicious food. Cons: Safety concerns in some areas, language barrier, medical care can be expensive.
4. Malaysia – Pros: Low cost of living, diverse culture, modern infrastructure. Cons: Hot and humid climate, language barrier, high crime rate in some areas.
5. Indonesia – Pros: Stunning natural beauty, friendly locals, low cost of living. Cons: Poor infrastructure in some areas, language barrier, high humidity levels.
Overall, each country has its own unique advantages and disadvantages. It’s important to research and consider what is most important to you before making a decision on where to live abroad on a budget.
6. Tips for finding affordable housing and transportation
Finding affordable housing and transportation is key when living abroad on a budget. Here are some tips to help you save money:
1. Consider sharing accommodation: If you are moving to a new location with friends or family, consider sharing accommodation to save money on rent. Alternatively, look for house-sharing websites and groups to find like-minded people to share accommodation with.
2. Research public transportation options: Public transportation is often cheaper than taxis or private cars. Research the options available in your new location and find out about any discount schemes or passes that may be available to expats.
3. Look for off-peak deals: Many cities offer discounted travel during off-peak hours. Research the off-peak hours for your new location and plan your travel accordingly to save money.
4. Consider cycling: Cycling is a cheap and healthy way to get around. Look for bike-sharing schemes in your new location or purchase a second-hand bike to save money on transportation.
5. Negotiate rent: If you are renting accommodation, try negotiating the rent with your landlord. Offer to sign a longer lease or to pay upfront in exchange for a lower rent. Don’t be afraid to shop around and compare prices before committing to a rental agreement.
By following these tips, you can find affordable housing and transportation in your new location and save money while living abroad on a budget.
7. Ways to save money on food and entertainment
One of the best ways to live abroad on a budget is to find inexpensive options for food and entertainment. Here are some tips to help you save money in these areas:
1. Cook your own meals – Eating out can be expensive, especially if you’re used to doing it all the time. Instead, try buying groceries and cooking your own meals. Not only is it cheaper, but it can also be healthier.
2. Shop at local markets – If you do decide to cook your own meals, try shopping at local markets instead of supermarkets. Not only will you save money, but you’ll also get to experience the local culture and cuisine.
3. Look for happy hour specials – If you want to go out for a drink or a meal, look for happy hour specials or other deals. Many restaurants and bars offer discounts during certain times of the day or week.
4. Take advantage of free activities – Many cities offer free activities, such as concerts, festivals, and other events. Check local listings and take advantage of these opportunities.
5. Use public transportation – Taxis and rental cars can be expensive, so try using public transportation instead. Many cities have reliable and affordable bus and train systems that can take you where you need to go.
By following these tips, you can save money on food and entertainment and make your budget go further while living abroad.
8. Working remotely and finding employment opportunities
One of the best ways to live abroad on a budget is to work remotely. With the rise of the digital age, many companies have opened up to the idea of remote work, which means you can work from anywhere in the world as long as you have a laptop and internet connection.
Many expats have taken advantage of this and have found work online, whether it be in web development, writing, graphic design, or even teaching English as a second language (ESL). Websites like Upwork, Fiverr, and Freelancer offer a variety of job opportunities for remote workers.
Another option is to find employment opportunities in the country you’re living in. Many countries have a demand for English-speaking workers, especially in the hospitality and tourism industries. You can also check out job boards specific to the country you’re in, as well as social media groups and expat forums for job leads.
Working remotely or finding employment opportunities abroad not only helps with your budget, but it also allows you to immerse yourself in the local culture and make connections with locals and other expats. It’s important to research visa requirements and work permits before applying for jobs, as some countries have strict regulations for foreign workers.