The 6 Cheapest Cities in Asia for Nomads

If you’re searching for the top up-and-coming region for investors, entrepreneurs and digital nomads, look no further than Asia.

The region is full of thriving investment and corporate opportunities. It also offers excellent options for a second residence, a vibrant culture, delicious cuisines and a diverse range of experiences to enjoy. 

Many cities in Asia offer a range of settings from which to work. Whether you prefer a big city, beach life or a simpler country lifestyle, there’s an option for everyone.

While Southeast Asia is an excellent choice for location-independent workers, other options exist in different parts of Asia that deserve to be listed as the cheapest cities in Asia in terms of cost of living, safety and quality of life.

Whether you want to invest in Asia, start a company there or establish a residence, Nomad Capitalist can help you. All you need to do is reach out to us, and we’ll handle the rest.

Canggu, Indonesia

Canggu is a small beachside town in South Bali where local Balinese, Australian and European expats live together in an odd harmony.

We say ‘odd’ because we have never been to an island where foreigners are so welcomed, but this is natural because the Balinese economy depends largely on tourism to keep local businesses running. All this is complemented by the exuberant friendliness of the Balinese people. This is a place for anyone looking for small-town life.

The number one advantage of working and living in Canggu is, for sure, the community of expats and the potential for networking that exists there. There are online communities for entrepreneurial expats. Or better yet, if you can join a co-working space and meet other people face-to-face, you will be enhancing not only your work life but also your personal life.

There will be people working alongside you who are experts in their own fields – whether in web design, e-commerce or photography. They are more than willing to help you with what you need in your business for perhaps only the cost of your work services in return.

The cost of living can’t be beaten. A nomad can expect to spend around US$1,800 to live comfortably for a month. You can easily rent a fully furnished private villa with a pool, an incredible view of the rice fields, WIFI and private parking, or find an apartment in the town centre for less – it all depends on your preference. Of course, everyone gets by on a scooter, which costs US$50 per month to rent.

In Canggu, the food is also to die for. With restaurants boasting a wide range of nationalities, you can get a traditional Indonesian rice dish for US$1.20 or pig out on an authentic Italian pizza for US$4. The selection is amazing, and Canggu is truly the home of smoothie bowls, surfing, yoga classes and hammocks.

Canggu is highly accessible from Australia, with cheap flights running daily, but if you are travelling from Europe or the US, prepare for a stopover in Singapore or another major airport hub. 

Indonesia introduced a long-stay visa for foreign nationals, allowing them to stay in the country for 5-10 years. This ‘Second Home Visa‘ encourages foreigners to invest in the local economy, purchase property and open an Indonesian bank account. The visa aims to attract foreign tourists and increase investment in the local economy. Basic requirements for the visa include an initial deposit of 2 billion rupiahs (around US$123,000) or an investment in real estate valued at around US$130,000. 

Alternatively, nomads can opt for a visa on arrival, which grants visitors to Indonesia the opportunity to stay in the country for short-term stays.

Lastly, Canggu is relatively safe by Southeast Asian standards. Your biggest risk is getting hit by a scooter. Just be sure you have insurance before you make the trip.

Ho Chi Minh City, Vietnam

Ho Chi Minh City (HCMC), or Saigon as it’s still commonly known, is the original digital nomad hotspot of the world. It’s a large capital city of over 9 million people and boasts a colourful history. 

A balance of chaos and calm, once you look past the crazy traffic, you will find that life actually moves quite slowly for its residents. 

The city is divided into districts, with some parts being more cultural, more foodie, or more developed with large shopping malls, so you are bound to find an area that suits you.

You can expect to spend between US$1,000 and US$2,000 monthly in Ho Chi Minh, including accommodation, eating out, groceries and entertainment – not bad for a big city.

However, despite having such a modern setting, HCMC remains a city interlaced with tradition and history. Here, you will be greeted with a fresh cultural experience, amazing street food and a thriving social scene to boot.

HCMC is one of the world’s largest coffee importers, making it a perfect setting for digital nomads or entrepreneurs to work from one of its many cafes. The city has fast internet speeds with great access to public WiFi. And if you’d rather work more comfortably without racking up a huge coffee bill, co-working spaces are plentiful.

Vietnamese is a relatively easy language to learn (at least compared to other Asian languages) since it uses the same alphabet as English and has no genders, plurals or verb endings. Vietnamese people are known for being very direct while also being friendly and helpful.

Chiang Mai, Thailand

Chiang Mai is consistently ranked as one of the top cities in Asia and the world for remote workers – and for good reason. As a smaller city with about a half million people, you can live big for very little here. 

Despite being one of the cheapest cities in Asia, and the world for that matter, Chiang Mai still boasts first-class amenities. Accommodation can range from a few hundred to thousands per month, depending on your own preferences. Street food comes to as little as US$1 for a meal. There are also a number of budget activities to fill your spare time, such as temple hopping, paintball, hiking in the mountains and visiting elephant sanctuaries. Chiang Mai is also a convenient city to travel in and out of, so you can easily spend a weekend in Laos, Myanmar or Vietnam.

However, what nomads often talk about when advocating for Chiang Mai is the community of expats that exists there. Events include meet-ups, educational seminars and excursions to local sites. The co-working spaces there are top-class, with high-speed internet reaching the entire city. There are hundreds of co-working spaces and late-night cafes for young entrepreneurs and digital nomads to set up camp. You will find other extremely successful entrepreneurs in these co-working spaces, making it an excellent networking destination.

Chiang Mai is also renowned as being one of the safest cities in the world, with a very low crime rate against foreigners.

Kuala Lumpur, Malaysia

Kuala Lumpur, the capital of Malaysia, has a population of 8.8 million. Islam is the primary religion, representing about 50% of the population’s religious beliefs. The other half is comprised of Buddhism, Christianity and Hinduism, making Kuala Lumpur a multicultural melting pot that embraces diverse cultures and religions.

As another treasure for big-city lovers, you’ll get some of the world’s tallest buildings interwoven with the city’s old-town architecture in Kuala Lumpur. This is another place where you can live in a large city for a quarter of the price you would pay at home (depending, of course, on where home is for you). 

Rent for a one-bedroom apartment in the city centre will set you back about US$500-US$700 per month, and food and healthcare come cheap, too. 

Luckily, the visa process for Malaysia is straightforward. For those eyeing Malaysia as their second home or a strategic location in Southeast Asia, there is the Malaysia My Second Home (MM2H) program.

The currency is the Malaysian ringgit, which is majorly undervalued, meaning your cost of living is low, and investments are ripe for the picking.

The light rail public transport system in Kuala Lumpur is cheap and highly efficient. A line connects to the city’s international airport, which is also an international flight hub, so you can get in and out smoothly.

Hanoi, Vietnam

The second Vietnamese entry on the list, Hanoi, is the country’s capital city and one of the fastest-developing cities in Southeast Asia. 

However, it is still immersed in nature. The Red River lies along the east side of the city, and large parks and lakes dot the land. Due to Vietnam’s interesting political history, it is a cultural mix of Chinese and French influence. In this respect, it is more colourful and intriguing than its counterpart, Ho Chi Minh. Walking down the city streets in Hanoi is like walking through a museum.

Hanoi’s local street food scene is bustling with lots of little plastic stools, allowing you to sit down and enjoy your dish. Of course, you’ll also find a number of high-end restaurants available, but it’s important to experience the local way of living. 

This city is yet another example of cheap living in Asia, with a one-bedroom apartment in District One costing about US$550 per month. Of course, more affordable and more expensive variations are available to suit your needs.

Vietnamese visas typically allow you to stay in the country for 30 days with the possibility of further extensions.

The main issue with working remotely from Hanoi is the unreliable internet speeds. In contrast to HCMC, it is also difficult to find cafes or working spaces that are up to scratch, which is a pity as Hanoi is almost a digital nomad’s utopia in every other way.

Phnom Penh, Cambodia

Although more and more Western-style buildings are appearing throughout Cambodia’s capital city, it is still rather underdeveloped compared to other Southeast Asian cities. For this very reason, Phnom Penh holds so much charm and allure. Numerous temples, markets and the Royal Palace transport you to the past while new architecture, modern restaurants and cafes are also opening up. Phnom Penh is unique and unlike any other city in Asia.

Phnom Penh has come to the forefront for young entrepreneurs because of its extremely low income tax rate. The cost of living is also very low, with an apartment costing approximately US$500 per month. Phnom Penh is also one of the few cities on this list that would be perfect for someone looking to join a foreign company.

As modern Cambodia is quite a new country, they are actively seeking skilled expatriates from other countries to come and work. The expat and digital nomad community is thriving, and the possibility of networking is ever-present. In this city, expats communicate with each other a lot but keep an equal level of connection with locals.

Cambodia’s visa process is one of the most expat-friendly in Southeast Asia. Upon arrival, you can get a business 30-day visa, which you can extend to a full year. This visa will also allow you to set up your own business in the country.

If Cambodia is to your liking, you can always get a Cambodian My Second Home (CM2H) visa and live there for ten years. 

The Best Cities in Asia

Considering the vastness and diverse opportunities in Asia, it’s no wonder that investors and entrepreneurs are moving there.

Real estate is thriving, corporate ventures are aplenty, and the same can be said about investment potential. Many Asian countries also offer excellent second-residence programs to foreigners.

The one thing that the continent usually doesn’t offer is citizenship. However, that won’t be an issue for someone who only wants to establish an Asian base or live there temporarily.

If you want to start a company, invest or establish a second residence in Asia, get in touch with Nomad Capitalist today. We can make that happen for you.

At Nomad Capitalist, we have a network of lawyers, estate agents, accountants, and tax and company formation specialists from all around the world. All that expertise and real-world experience come together when we advise your holistic, bespoke action plan.