People migrate to certain regions for different reasons. However, one factor that comes to mind that they must always consider is affordability. It is of no use staying in a place that the standard of living is way higher than the individual’s capacity. According to International iving.com, here are 5 cheapest places in the world to live in:
1. Ecuador
Ecuador is one of the least expensive countries in the world in which to live. Everything from the price of real estate and rent to the cost of hiring a full-time maid and dinner out is lower. And you won’t have to forego First-World conveniences in major cities like Quito, Guayaquil, and Cuenca. New cars are common, including several brands made in Ecuadorian factories. Almost everyone owns a cellphone (or two), and internet connections are easy to come by.
2. Cambodia
You can see progress happening before your eyes when you come to Cambodia. Phnom Penh, the capital city of this small, sparsely populated country, is alive with new Chinese-financed high-rise buildings, its first JCI-accredited hospital, and an improved standard of living among her people. Once one of the world’s poorest countries, it’s now considered to have a lower-middle-income status. Though the country is advancing, the cost of living is still extraordinarily low when compared to the United States.
3. Bolivia
Bolivia is not on the radars of most potential ex-pats. Yet, this landlocked South American country surrounded by Peru, Argentina, Brazil, Chile, and Paraguay offers a lot of advantages. A retired couple can live on $1,000 or less per month, all in. During research trips, IL correspondents have met retired singles living on $500 per month.
4. Sri Lanka
If you are looking for a destination that’s affordable, rich in culture, and diverse in its offering, then look no further—Sri Lanka is fast becoming a popular choice for many ex-pats. Located just below India, with Africa to the west, Europe to its north, and Southeast Asia to its east, the “pearl of the Indian Ocean” is a gem that’s yet to be discovered by many. Colombo is Sri Lanka’s capital city and has 5-star hotels, clubs, theatres, museums, shopping malls, and restaurants to cater to your every taste. However, living in the city can be expensive, and it’s not the best option for budget-minded ex-pats.
5. Vietnam
Vietnam is a fascinating and vibrant destination, rich in natural beauty, steeped in history, and brimming with opportunity. Whether you want to live in the heart of a city, nestle among pine-forested mountains, or overlook a sun-washed beach, you’ll find modern, high-quality housing for low prices. Prices are consistently less than half of what you might expect to pay in the West.