Your Complete Guide to the Cheapest Countries to Live in Beyond America

The United States carries a substantial monthly cost of living burden. At an average of $2,433 per month, affording daily expenses presents a challenge for many American households. According to research from LendingTree, one in three households in the US struggle with financial security. For those seeking to stretch their budget further or embrace a lower cost lifestyle, exploring the cheapest countries to live in worldwide offers compelling alternatives. Whether you’re considering early retirement, remote work relocation, or simply a change of scenery, this guide identifies 50 destinations where your dollars extend significantly further than back home.

World Population Review recently published comprehensive data on global living expenses, and GOBankingRates has compiled this information into a practical resource. The analysis reveals that numerous nations—spanning from Western Europe to Southeast Asia to island nations—offer monthly living costs substantially below the American benchmark. Many of these cheapest countries to live in boast developed infrastructure, quality healthcare, and vibrant communities.

European Destinations: Where Budget-Conscious Living Meets Culture

Europe contains several surprisingly affordable nations, contrary to common assumptions. The continent features a range of options from ultra-low-cost territories to moderately priced capitals.

Mediterranean Gems and Eastern European Values

Portugal emerges as a standout choice with a monthly cost of just $1,286, making it one of Europe’s most wallet-friendly destinations. Spain follows closely at $1,383 monthly, offering Mediterranean charm without breaking the bank. Greece rounds out the Southern European options at $1,146 per month—among the absolute cheapest countries to live in on the continent.

Eastern and Central Europe present even more compelling value. Czech Republic costs approximately $1,199 monthly, while Slovenia comes in at $1,299. These nations deliver first-world amenities and cultural richness at fraction-of-the-price compared to Western European capitals. Estonia ($1,204) has gained attention as a digital-forward nation offering affordable living alongside cutting-edge technology.

Premium Northern Options

For those willing to spend slightly more, Nordic and Western European countries provide exceptional quality of life. Denmark ($1,923), Norway ($1,924), and Netherlands ($1,945) represent the budget-friendly end of prosperous Scandinavian living. Sweden ($1,578) and Finland ($1,537) offer surprising affordability for their development level. France ($1,542), Belgium ($1,540), and Austria ($1,743) provide gateway access to European culture at reasonable monthly expenses.

Unique European Alternatives

Malta ($1,504) and Cyprus ($1,531) offer Mediterranean island living with EU membership benefits. Luxembourg ($2,200) and Liechtenstein ($2,315) cater to those seeking extremely high standards while maintaining costs below US averages—qualifying them among the cheapest countries to live in when considering their wealth levels.

Asia-Pacific Destinations: Maximum Value for Your Budget

The Asia-Pacific region contains some of the absolute most affordable locations globally, making it ideal for budget-conscious expats and digital nomads.

Southeast Asian Powerhouses

Laos stands out with an exceptional $1,228 monthly cost, delivering authentic Southeast Asian experience at ultra-low prices. This represents true budget-travel territory where Western incomes create substantial purchasing power. The region’s infrastructure continues improving while maintaining its affordability advantage—these remain among the cheapest countries to live in worldwide for serious budget optimization.

Island and Developed Alternatives

New Zealand ($1,950) and Australia ($2,293) provide developed-nation living standards with costs slightly below or comparable to American expenses. While not the absolute cheapest countries to live in, they offer security, infrastructure, and lifestyle quality that justify their positioning. The Solomon Islands ($1,425) presents an extreme budget option for those prioritizing pure cost minimization.

Maldives ($1,263) attracts those seeking tropical island living at moderate cost. Despite its reputation as a luxury destination, it surprisingly ranks among affordable destinations for extended stays.

Americas: Caribbean and Continental Options

The Western Hemisphere offers diverse possibilities from Caribbean islands to Central American nations, many qualifying as cheapest countries to live in with substantial quality-of-life benefits.

Central American Affordability

Costa Rica ($1,156) represents Central America’s flagship affordable destination, combining political stability, natural beauty, and reasonable expenses. Panama ($1,198) offers similar advantages with unique geographic positioning. Both nations attract remote workers and retirees seeking the cheapest countries to live in while maintaining developed-nation comforts.

Caribbean Island Living

Barbados ($1,352) and Trinidad and Tobago ($1,171) deliver island experiences at accessible price points. The Bahamas ($2,295) and Curacao ($1,385) provide Caribbean atmosphere with varying budget requirements. St. Kitts and Nevis ($1,212) and Marshall Islands ($1,316) cater to those prioritizing island isolation and unique experiences.

Special Cases

Uruguay ($1,202) offers South American stability and development at remarkably reasonable cost—a favorite among those seeking cheapest countries to live in that don’t sacrifice governance quality.

Middle East & Special Territories: Alternative Value Propositions

The Middle East contains several nations where substantial oil wealth translates into government subsidies and surprisingly moderate living costs for expats.

Gulf State Options

United Arab Emirates ($1,906), Qatar ($1,870), Saudi Arabia ($1,244), Kuwait ($1,423), and Bahrain ($1,334) represent Gulf nations offering moderate-to-low costs alongside modern infrastructure and safety. These appeal to those seeking non-Western alternatives among the cheapest countries to live in, though visa accessibility varies significantly.

Unique Positioning

Turkmenistan ($1,668) and North Korea ($1,592) round out the list with extreme budget options, though these territories present additional considerations beyond pure cost metrics—limited tourism infrastructure and visa availability deserve careful research before relocation planning.

Making Your Decision: Beyond Just Cost

The absolute cheapest countries to live in don’t necessarily align with best quality of life. Consider these factors alongside monthly expenses:

• Visa Requirements: Some nations offer digital nomad visas; others require specific visa categories
• Healthcare Access: Quality varies substantially between destinations
• Internet Reliability: Critical for remote workers and online entrepreneurs
• Climate Preferences: Tropical year-round versus seasonal variation
• Language: Your comfort level with local languages impacts daily experience
• Community: Expat networks and local hospitality differ between nations

The data demonstrates that globally, numerous destinations offer monthly living costs between $1,146 (Greece) and $2,315 (Liechtenstein)—all substantially below or competitive with American averages. Whether you prioritize European culture, tropical climates, island living, or emerging markets, identifying your ideal cheapest countries to live in depends on aligning budget with lifestyle preferences.

The world contains far more affordable alternatives than most Americans realize. Your $2,433 monthly budget stretches considerably further in Portugal’s coastal towns, Czech Republic’s historic cities, or Southeast Asia’s developing hubs. By understanding where these cheapest countries to live in cluster geographically and what they offer beyond pure affordability, you can make informed decisions about potential relocation—whether temporary or permanent.

For detailed information about specific nations, visa requirements, and current living cost breakdowns, consult GOBankingRates, World Population Review, and official government immigration resources before making relocation decisions.