Cheapest Countries to Live in 2024 (2024)

Snapshot

  • A country's cost of living is determined by comparing local prices of basic goods and services to those in a baseline location, such as New York City; however, methodologies vary among organizations.

  • Three countries that appear on all three different organizations’ lists of the least expensive countries to live in are Egypt, Nepal, and India.

The cost of living is the amount of money needed to sustain a certain comfort level in a location. The cost of living covers such basics as housing, groceries, taxes, and healthcare. Some countries have a very high cost of living, particularly in areas surrounding large cities.

For example, in the United States, cities like New York and San Francisco have a very high cost of living, while such areas as rural Mississippi, Kansas, or Oklahoma may be notably more affordable. Some nations have a very low cost of living, which can make them attractive destinations for expats, retirees, and others interested in reducing their expenses.

As a rule, cost of living computations start by recording the cost of various needs, from rent/mortgage and health care to a loaf of bread, in a given city. Those costs are then compared to the price of the same necessities in a baseline location, such as New York City, U.S.A. or Prague in the Czech Republic. Finally, the numbers for each region in a given country are averaged to enable nation-to-nation comparisons.

Every source adds its own spin on the math, which results in slightly different lists. The table below presents a full list of the countries and their scores. To explore the opposite end of the spectrum, take a look at the most expensive countries to live in.

Top 10 Cheapest Countries to Live In (New York City, USA = 100%) - Numbeo

Country

CoL plus Rent (Numbeo)

Pakistan10.70
Egypt13.10
India14.60
Libya14.90
Bangladesh15.10
Syria15.20
Nepal15.30
Tunisia16.70
Algeria16.90
Somalia17.60

Top 10 Cheapest Countries to Live In (per month US$) - Living Cost

Country

Monthly Cost of Living

Afghanistan$354
Pakistan$370
India$423
Tunisia$424
Sri Lanka$428
Kyrgyzstan$430
Algeria$431
Syria$435
Nepal$439
Turkey$447

Source

The data and analysis methodologies used by the three organizations—Living Cost, Numbeo, and Global Economy—vary by year collected, factors analyzed, calculation equation used, and countries included.

Download Table Data

Country

Monthly Cost of Living

CoL plus Rent (Numbeo)

Afghanistan$354
Pakistan$37010.70
India$42314.60
Tunisia$42416.70
Sri Lanka$42820.80
Kyrgyzstan$43021
Algeria$43116.90
Syria$43515.20
Nepal$43915.30
Turkey$44718.20
Egypt$44913.10
Tajikistan$450
Kazakhstan$46825.40
Argentina$49419.30
Belarus$50423.40
Kiribati$511
Azerbaijan$51320
Sudan$517
South Sudan$519
Gambia$520
Bangladesh$52115.10
Uzbekistan$52919.40
Papua New Guinea$530
Haiti$531
Moldova$53723.10
Central African Republic$538
Eritrea$538
Georgia$53830.50
Chad$540
Ukraine$54220.50
Liberia$544
Paraguay$54619.90
Indonesia$54820.50
Djibouti$548
North Macedonia$55319.80
Madagascar$555
Yemen$55934.10
Mali$560
Burundi$560
Libya$56014.90
Bhutan$569
Ethiopia$57430.30
Colombia$57418.30
Nauru$584
Gabon$587
Comoros$589
Armenia$59234.20
Bosnia and Herzegovina$599
Brazil$60123.90
Philippines$60123.10
Mongolia$60322.40
Uganda$60420.30
Albania$60825.70
Tuvalu$608
Peru$63022.60
Rwanda$633
Nicaragua$63322.30
Vietnam$63923.20
Morocco$64419.40
Mauritius$65126.80
Malaysia$65221.30
Romania$65224.80
Kenya$65418.50
Bulgaria$65425.70
Russia$65621.30
Venezuela$65725
Malawi$666
Botswana$66620
Iran$66820.10
Togo$669
Zambia$676
Mexico$67829.10
Cameroon$68830.20
Cambodia$69227.50
Lesotho$694
Ghana$70124.40
Iraq$71021.30
Dominican Republic$71128.20
Serbia$71127.90
Eswatini$711
Guinea Bissau$712
Suriname$714
Montenegro$72029.70
Benin$731
Sierra Leone$745
DR Congo$748
Bolivia$75020
China$75226.60
Ecuador$75622.30
Tanzania$76019.40
Honduras$76524.60
Fiji$77325.60
Mauritania$781
Cape Verde$797
Burkina Faso$799
Guyana$80330.50
Somalia$81117.60
El Salvador$81629.10
Hungary$81731.20
Jamaica$82935.20
Thailand$83126.20
Jordan$85027.60
Costa Rica$85235.30
Dominica$856
Guatemala$85726.70
Myanmar$86425.80
Lithuania$86934.30
Guinea$877
Cuba$88036.20
Sao Tome and Principe$880
Poland$88232.30
Laos$888
Belize$88931.20
Angola$896
Chile$90531.60
Nigeria$91620
Namibia$92121.50
Uruguay$92939.70
Zimbabwe$93525.60
Palestine$93727.70
Latvia$93832
Niger$950
Saudi Arabia$95231.90
South Africa$97423.80
Trinidad and Tobago$979
Slovakia$99032
Croatia$1,00130.90
Mozambique$1,006
Greece$1,00834
Ivory Coast$1,01030.50
Czech Republic$1,01436.80
Tonga$1,035
Portugal$1,03834.60
Estonia$1,04037
Palau$1,040
Taiwan$1,05734.90
Oman$1,08633.10
Panama$1,09235.10
Samoa$1,109
Grenada$1,128
Turkmenistan$1,141
Senegal$1,14434.70
Saint Kitts and Nevis$1,145
Brunei$1,15236
Saint Lucia$1,153
South Korea$1,15444.50
Bahrain$1,16540.50
San Marino$1,168
Slovenia$1,17535.50
Equatorial Guinea$1,185
Solomon Islands$1,222
Curacao$1,222
Andorra$1,232
Barbados$1,25853.80
Spain$1,26036.10
Cyprus$1,26644.40
Maldives$1,28839.90
Kuwait$1,32636.30
Italy$1,35941.30
Japan$1,37036.90
Lebanon$1,41136.10
Germany$1,41446.50
Marshall Islands$1,464
Antigua and Barbuda$1,465
Belgium$1,49545.20
Sweden$1,51542
France$1,51947.40
Malta$1,51943.70
Finland$1,53646.80
North Korea$1,540
United Arab Emirates$1,57646.80
Austria$1,61747.20
Canada$1,70151.70
Bahamas$1,71568.50
Seychelles$1,725
Israel$1,77450.10
Netherlands$1,77850.90
New Zealand$1,78251.50
Vanuatu$1,829
Denmark$1,83756.20
Qatar$1,85652.60
United Kingdom$1,92948.10
Australia$1,94458
United States$1,95161
Norway$2,07456.40
Luxembourg$2,16359.30
Singapore$2,16989.80
Iceland$2,20764.70
Liechtenstein$2,306
Ireland$2,31657.20
Switzerland$2,49785.60
Cayman Islands$2,84498.50
Monaco$3,743
Hong Kong-67
Puerto Rico-47.50
Macau-49.60
Jersey-69.60
Bermuda-118.20
Guernsey-60.50

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What are the cheapest countries to live in?

The three cheapest countries to live in are Egypt, Pakistan, and India.

Frequently Asked Questions

Sources

Cheapest Countries to Live in 2024 (2024)

FAQs

What is the cheapest country to live in 2024? ›

These Are the 10 Cheapest Countries to Move to in 2024
  • Costa Rica. ...
  • Mexico. ...
  • Panama. ...
  • Vietnam. ...
  • Malaysia. ...
  • Thailand. ...
  • Greece. ...
  • Ecuador. You'll spend just $600 for a comfortable apartment in Ecuador, where you'll also get to use the U.S. dollar.
May 9, 2024

What is the cheapest and safest country to live in? ›

10 of the cheapest and safest places to live in the world
  • Albania.
  • Portugal.
  • Costa Rica.
  • Panama.
  • Mexico.
  • Thailand.
  • Malaysia.
  • Vietnam.

What is the cheapest and easiest country to live in? ›

Among the safest countries, the most affordable are Latvia, Chile, Costa Rica, Slovakia, and Lithuania. A person with a moderate lifestyle needs on average $1,000—1,100 per month to live comfortably in one of these countries.

What country has the lowest cost of living? ›

The cheapest countries in the world are generally located in Asia, Africa, and South America, with a few exceptions in Europe. Pakistan tops the list of the cheapest countries in the world, with a cost of living index of $294.

What is the cheapest and safest country to retire in? ›

Many countries offer excellent health care, infrastructure and amenities at a fraction of the cost compared to the U.S. The cheapest places to retire abroad include Panama, the Philippines, Portugal, Malaysia, Mexico, Thailand and Vietnam.

What is the cheapest English-speaking country to live in? ›

Cheapest English-Speaking Countries
  • India: A Rich Tapestry of Culture at a Low Cost. ...
  • Ghana: A Hidden Gem in West Africa. ...
  • The Philippines: Tropical Beauty with a Low Cost. ...
  • Malaysia: A Blend of Cultures and Comfort. ...
  • Vietnam: Vibrant and Economically Attractive. ...
  • South Africa: Beauty and English Proficiency.
Jan 27, 2024

What is the best country to live in financially? ›

  • Switzerland. #1 in Economically stable. #1 in Best Countries Overall. ...
  • United Arab Emirates. #2 in Economically stable. ...
  • Canada. #3 in Economically stable. ...
  • Germany. #4 in Economically stable. ...
  • Japan. #5 in Economically stable. ...
  • Sweden. #6 in Economically stable. ...
  • Australia. #7 in Economically stable. ...
  • Netherlands. #8 in Economically stable.

What is the cheapest country to live in with U.S. dollars? ›

Costa Rica

And you don't need to go broke while living and working there, because Costa Rica is one of the cheapest countries to live in for Americans. Bargain flights from the US can also be found easily, making a trip to Costa Rica even more attractive.

What country is most free to live in? ›

1. Switzerland. At the forefront of global freedom stands Switzerland, a haven of liberty in Europe. Nestled amid the majestic Alps and serene lakes, this diminutive nation champions freedom like no other.

Which is the cheapest country to relocate to? ›

Cheapest Countries to Live In
  • Vietnam.
  • South Africa.
  • Ecuador.
  • Costa Rica.
  • Malaysia.
  • Mexico.
  • Indonesia.
  • Bulgaria.

What is the cheapest country to become a resident? ›

15 Cheapest Countries to Get Permanent Residency Heading into 2024
  • Latvia. Permanent Residency Score: 46. ...
  • Croatia. Permanent Residency Score: 54. ...
  • Bulgaria. Permanent Residency Score: 69. ...
  • Czech Republic. Permanent Residency Score: 50. ...
  • Estonia. Permanent Residency Score: 75. ...
  • Slovakia. Permanent Residency Score: 65. ...
  • Germany. ...
  • Slovenia.
Jan 31, 2024

Where is the cheapest place for seniors to live? ›

23 Cheap Places Where You Will Want To Retire
  • Tulsa, Oklahoma. ...
  • Myrtle Beach, South Carolina. ...
  • Sioux Falls, South Dakota. ...
  • Chattanooga, Tennessee. ...
  • Sherman, Texas. Cost of living for retirees: 13.0% below U.S. average. ...
  • St. George, Utah. ...
  • Roanoke, Virginia. Cost of living for retirees: 8.7% below U.S. average. ...
  • Spokane, Washington.

What is the cheapest country to live in that is safe? ›

Scoring high on the Global Peace Index 2023, Bulgaria is one of the cheapest and safest places to live in the world. The beautiful coastal city boasts an affordable cost of living, with an individual expat living comfortably at $1,300 per month (on average).

Which is no 1 cheapest country in the world? ›

CHEAPEST COUNTRIES TO LIVE
  1. Pakistan. Pakistan is the cheapest country to live in in the world, with $294 per month covering all living expenses.
  2. Sri Lanka. Sri Lanka is the second cheapest country to live in. ...
  3. Nepal. ...
  4. Algeria. ...
  5. Afganistan. ...
  6. Libya. ...
  7. India. ...
  8. Tunisia.
Jul 27, 2023

Which country is best to live permanently? ›

Comparison table of the best countries to live in
CountryQuality of life scoreLanguage(s) spoken
Sweden100Swedish, English
Canada93English, French
Denmark91Danish, English
Netherlands88Dutch, English
16 more rows
Mar 4, 2024

Which country is best for future living? ›

The top three overall, Norway, Australia and the Netherlands offer high living standards, strong economies, an excellent work-life balance, robust social security systems and inclusive, diverse work environments. All are in the top three happiest countries globally, but each also scored high in other areas.

Which will be the best country to live in 2030? ›

15 Best Countries to Live in the Future
  • Canada. ...
  • Finland. ...
  • Australia. ...
  • Germany. ...
  • Austria. ...
  • Belgium. GDP per capita, Purchasing Power Parity in 2021: $58,930.9. ...
  • Sweden. GDP per capita, Purchasing Power Parity in 2021: $59,324.0. ...
  • Netherlands. GDP per capita, Purchasing Power Parity in 2021: $63,766.9.
Oct 16, 2022

Which is the most cheapest country? ›

CHEAPEST COUNTRIES TO LIVE
  1. Pakistan. Pakistan is the cheapest country to live in in the world, with $294 per month covering all living expenses.
  2. Sri Lanka. Sri Lanka is the second cheapest country to live in. ...
  3. Nepal. ...
  4. Algeria. ...
  5. Afganistan. ...
  6. Libya. ...
  7. India. ...
  8. Tunisia.
Jul 27, 2023

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