The Cheapest Places to Live in the World

The Cheapest Places to Live in the World

Is the low cost of living the ultimate factor in choosing an overseas travel or second home destination? It depends on your priorities. If you’re only visiting briefly, cost might not matter. But if you’re settling down, taxes and other factors become crucial.


The locations listed below were chosen for their affordability, high quality of life and potential for financial growth and opportunities:

Cheapest Places to Live in the World


Portugal offers affordable living options, surprising many with its economical charm and providing benefits like high-quality healthcare and efficient public transportation.


Undoubtedly one of Eastern Europe's cheapest places to live, Latvia offers modern charm and affordability, with a family of four thriving on less than €3,000 per month and singles comfortably managing on €1200.


Our love of Georgia is well known, and we consider its capital, Tbilisi, as one of Eastern Europe’s hidden gems. Whether you seek residency, company setup, real estate investment, or relocation, Georgia offers it all!


Slovenia, known for its safety and natural beauty, borders Croatia, Austria, and Italy, making it an attractive destination. From affordable housing to quality healthcare and dining options, Slovenia offers a high standard of living at a reasonable cost.


Montenegro is known for its fine climate, stunning beaches and ancient fortresses. Most expats can live in Montenegro for around €1200 per month. Renting a one-bedroom apartment in the city centre costs around €600 per month.


Costa Rica is a small Central American country known for its natural beauty and biodiversity.  A single person can expect to live on US$1600–2000 a month, while a couple can live comfortably on US$2000–3000 per month.

Costa Rica

Colombia, the largest Spanish-speaking country in South America, offers luxury living at a fraction of the cost compared to North America or Europe, with affordable housing and dining options.


Low-cost medical care, modern infrastructure, low crime rate appeal to the estimated 30,000 Americans who call it home. Panama’s friendly tax regime, favourable business climate, and various residence programs make it one of the most attractive countries.


Expats love Thailand for its low cost of living, stunning beaches and diversity. The country has something for every budget, whether you’re a perpetual traveller or just looking to enjoy life in paradise.


Enjoy affordable living in Indonesia, with housing costs starting at US$250 outside Jakarta and food options as low as US$2, making it an attractive destination for many.


Vietnam, one of Asia's lowest-cost destinations, is also regarded as one of the safest in the region, making it attractive for investment. Vietnam is a top choice for both living and investing. A single person can live comfortably in Vietnam for around US$1000 a month.


Many Eastern European and Asian countries offer attractive living costs for foreigners. Relocating requires paperwork and varies in culture and climate. Nomad Capitalist has a diverse team of globally located specialists who can help you go where you’re treated best.


Our experienced team can help you legally reduce your tax rate offshore, protect your assets, invest overseas, obtain a second citizenship, and improve your peace of mind. We’ve helped 1,500+ HNWI entrepreneurs and investors and we can help you, too.

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