How often do you crave an escape from the monotony of your life? How deep is your desire to go to another country and explore the more of the world? Most of the times, the only obstacle coming your way could be your budget. Do not worry! You will be pleased to know that travel does not have to be expensive. The cheapest countries in the world are fabulous grounds for people to live and work. In fact. here you can probably earn twice as much as your travel investments in a short period.
Explore different cultures and indulge in adventures while earning good money abroad. If you find yourself wondering where is the cheapest place to live in the world, there are many countries with low costs of living that attract many people. Though the salaries in terms of those currencies will be lower, the expenses that you will incur will be less as well. The cheapest countries in the world also offer several well-paid jobs that can give you sizeable gains.
Suggested Read: Top Cheapest Countries In Europe For A Budget Vacation In 2020
Top 15 Cheapest Countries In The World
- Costa Rica
- South Africa
- South Korea
Choose your preferred country and get going!
- Currency – Vietnamese Dong (VND)
- Currency value against INR – 1 INR = 336.67 VND (approx.)
- Popular job opportunities – Teaching English
- Cost of living – This rate varies according to the area that you choose to live in Vietnam. The famous cities of Hanoi and Ho Chi Minh are, definitely, more expensive than the rural areas. However, the salaries for jobs done here are also higher. The cost of a small rented apartment could be around INR 17242 for a month.
Eating out would cost you between INR 69 and INR 207 per meal if had at local restaurants or street food stalls. Western-style restaurants could be more expensive at around INR 690 per meal. Transportation here is extremely cheap. Local public transport can cost you a starting price of only INR 21. Taxis can be availed from just INR 34 per kilometre.
One of the cheapest countries to live in, Vietnam is a paradise for those who wish to travel on a tight budget. Along with being one of the most affordable places to live in the world, this country is also very exotic in its landscape. The stunning beaches, coupled with scrumptious Vietnamese cuisine, make for a great stay.
Almost like a destination for adventure, Vietnam’s major cities such as Ho Chi Minh, Hanoi, and Da Nang offer several job opportunities. Though the jobs found in other parts of the country do not pay much, these three popular cities attract a considerable crowd of expats. Without a doubt, one of the most affordable places in the world, Vietnam is a fantastic place to live in and work. There is a growing trend among people around the world to work remotely and travel the world simultaneously. Vietnam is considered to be among the best places to work remotely.
If you are part of a distributed remote team, using tools like UnRemot will help you have seamless collaboration and communication within your teams.
Also Read: Best Time To Visit Europe In 2020
- Currency – Bulgarian Lev (BGN)
- Currency value against INR – 1 INR = 0.025 BGN
- Popular job opportunities – Teaching English and tourism jobs
- Cost of living – Rent of a one-bedroom apartment begins at INR 15862 per month. A proper meal at a relatively cheap restaurant can cost you around INR 345. However, public transportation in Bulgaria is very affordable, with trips starting at around INR 69.
The countries in Europe are usually considered to have high costs of living. It is truly a matter of wonder that Bulgaria has made it onto the list of cheapest countries in the world to live. Situated in Eastern Europe, Bulgaria is one of the most affordable places to live in the world. If you had greater dreams of working in Italy or France, but the costs of living scared you, you always have a great alternative in the form of Bulgaria.
A country with one of the lowest costs of living, Bulgaria has become widely sought-after by travellers. A small budget can guarantee you the life that nears royalty here. The prime location of Bulgaria makes it an easy transit spot to reach other countries like Greece, Romania, and Turkey. With a rich history that dates back to about 8,000 years ago, Bulgaria is definitely one of the cheapest countries to live.
Suggested Read: Top Places to Visit in India on Budget | Travel on Budget
3. Costa Rica
- Currency – Costa Rican Colón (CRC)
- Currency value against INR – 1 INR = 8.32 CRC
- Popular job opportunities – Teaching English, scuba diving, tourism
- Cost of living – You will have to spend about INR 20690 – INR 55173 for an apartment per month depending on its size and location. A good meal in an inexpensive restaurant will cost you only around INR 207 – INR 414. You can avail local transportation beginning at rates as cheap as INR 48.
One of the most famous countries in Central America is Costa Rica. Apart from being one of the cheapest countries in the world to live in, it is extremely popular for the pristine landscape that it holds. Dense jungles, tropical beaches, and hospitable locals are sure to leave you in awe of this place. As a country with one of the cheapest costs of living in the world, Costa Rica has a very ‘Pura Vida’ vibe to it.
You will not have to worry about having to break your budget because this country is among the cheapest countries in the world that pays good salaries. Another highlight of travelling to this land is that bargain flights from the United States of America can be found. In spite of being at a higher cost of living level in comparison with Guatemala and Nicaragua, one important point to be noted is that the salaries here are also better.
Also Read: 9 Best Cities To Visit In Europe In 2020
- Currency – Mexican Peso
- Currency value against INR – 1 INR = 0.28 MXN
- Popular job opportunities – Teaching English, tourism, au pair, sales
- Cost of living – The rent of a one-bedroom apartment can range from INR 13775 – INR 34437 per month. The cost of a proper street food meal can start from around only INR 69. You can buy a monthly pass for local transportation at rates as cheap as only INR 1102.
A country that is easily accessible to Americans and Canadians, Mexico is one of the cheapest countries in the world. With something exciting in store for everyone, Mexico is definitely one of the best answers to your question – where is the cheapest place to live in the world. You will find an abundance of Mayan ruins in the jungles, turquoise blue coloured Caribbean waters, and pretty beach towns by the Pacific Ocean.
A complete visual treat, Mexico has one of the lowest costs of living in the world. The street food here is absolutely delectable. Tacos, ceviche, tamales, and Aguas Frescas are the best foods you will find for a very cheap price. Relatively offbeat places such as Merida and Guanajuato are sure to work out far cheaper than the very popular areas of Cancun and Playa del Carmen.
5. South Africa
- Currency – South African Rand
- Currency value against INR – 1 INR = 0.20 ZAR
- Popular job opportunities – Though a major English-speaking country, South Africa has ten other important official languages. Hence, teaching English is a great profession here. Other jobs can also be found in the sectors of tourism and international companies.
- Cost of living – The rent of a one-bedroom apartment can range from INR 24105 to INR 34436 per month. A proper meal at a local restaurant can cost you around INR 551. A domestic beer costs around INR 117.
One of the best countries with the lowest cost of living, South Africa is among the cheapest countries in the world. This is a fantastic place to live in and work because you will not have to attend a language school to learn the local language; English is predominant here. Also, most cities in South Africa have a great standard of living that allows for a smooth transition from Western cities.
As one of the most sought-after, cheapest English- speaking countries in the world, South Africa is a very exuberant land. With a beautiful natural and cultural diversity, this is one of Africa’s most scenic countries. Offering many exciting activities such as zip-lining, river rafting, whale-watching, and safaris, South Africa guarantees you a great time.
- Currency – Renminbi / Chinese Yuan
- Currency value against INR – 1 INR = 0.100 CNY
- Popular job opportunities – Teaching English, au pair
- Cost of living – Living in China can be very cheap if you do not choose the major cities. The rent for a one-bedroom apartment per month can be as low as INR 20661. A good meal in a local restaurant can cost you around INR 207.
You might think China is not a great place to live in and work. However, you will be surprised by the fact that working here can be very lucrative. A country with a low cost of living, China has very affordable prices. It is important to note that the salaries received in China are better than those given in many other Asian countries. With its economy booming, you will find many well-paying jobs here. Major cities such as Beijing and Shanghai, quite obviously, will have a higher cost of living.
However, the salaries paid here will also be higher. The offbeat cities in China are definitely recommended for a great stay and incredible work profits. A host to many exciting events and programs, China is a country that is definitely worth exploring. You can also enrol yourself in free Mandarin classes and learn a new language while you are here.
- Currency – Thai Baht
- Currency value against INR – 1 INR = 0.45 THB
- Popular job opportunities – Teaching English, hospitality
- Cost of living – The rent of a one-bedroom studio or apartment can range from prices as low as INR 10331 to INR 41326 depending on the area you choose. Chiang Mai, for instance, will be on the more expensive end, though it is still very affordable. A good street food meal can cost as little as INR 69. You can use public transportation facilities for very cheap, with rates beginning from around INR 21.
One of the best on the list of cheapest countries in the world, Thailand is famed as ‘The Country of Smiles’. Travellers from all over the world consider a visit to Thailand mandatory. A great visual treat, this country has surprisingly low costs of living. Beach resorts are the only potentially expensive places of accommodation, though the prices are far lower than those around the world.
The clear blue waters of its beaches, scrumptious local cuisine, and an incredible culture have a truly magnetic effect on those who wish to live in and work at a beautiful place and still benefit greatly. Besides being one of the cheapest countries in the world, Thailand is also a very safe place for locals, travellers, and expats.
8. South Korea
- Currency – South Korean Won
- Currency value against INR – 1 INR = 17.10 KRW
- Popular job opportunities – Teaching English, sales
- Cost of living – The rent for a one-bedroom apartment can cost around INR 24107 per month. A good meal at a restaurant can cost you about INR 413.
South Korea is not particularly considered to be one of the cheapest countries in the world. However, this country needs to be on the list because the salaries that are given here are very competitive. Also, many of the programs that are offered here include free accommodation, which reduces the cost of living to a great extent.
Famed as one of the best countries for the job of teaching English as a foreign language, this profession can be very lucrative for you. The countryside of South Korea is very picturesque, with a vibrant culture, delicious food, and welcoming people. A fabulous country to live in, work at, save money, and travel to, is South Korea for you.
- Currency – Sol
- Currency value against INR – 1 INR = 0.048 PEN
- Popular job opportunities – Teaching English, marketing, tourism
- Cost of living – A one-bedroom apartment can be rented at prices as low as INR 17220. A delicious meal at local markets will cost you around INR 69 – INR 207.
For a lifetime of adventure on a budget, Peru is the perfect place for you. One of the cheapest countries in the world, it offers many adrenaline-pumping activities. Mainstream adventures such as hiking the Inca Trail and paying a visit to Machu Picchu are explored by every traveller. Many lesser-known places and activities also await you.
During your stay in Peru, you can never get bored, for there is always something to explore in the Inca Kingdom. The sand dunes in Ica and the Amazon rainforest are some of the places you must visit. As one of the most beautiful places on the list of the cheapest countries in the world, Peru is worth a visit for living and work.
- Currency – Poland Zloty
- Currency value against INR – 1 INR = 0.055 PLN
- Popular job opportunities – Teaching English, customer service
- Cost of living – The rent for a one-bedroom apartment can amount to around INR 24138. A good meal at a cheap restaurant can cost you a price as low as INR 23761.
Another great option if you wish to live and work in one of the cheapest countries of Europe, Poland, is worth considering. Though relatively less-known when compared with the popularity of neighbouring Germany, Poland is gradually gaining importance among travellers and expats. The major cities of Krakow and Warsaw have all the recent, modern amenities with costs that are half of those in Germany.
Apart from teaching, there are many jobs in the professional service job arena that can be highly profitable. Citizens of the European Union, in particular, will find this to be a very affordable choice. As Poland is a Schengen country, these citizens can easily travel here without a visa.
- Currency – Nepalese Rupee
- Currency value against INR – 1 INR = 1.60 NPR
- Popular job opportunities – Teaching English, sales, marketing, yoga
- Cost of living – The rent for a one-bedroom apartment is around INR 10350. A good meal at an inexpensive restaurant will cost you around INR 157. Local transportation facilities can be used at prices starting from around INR 13. You can also catch taxis beginning at a price of INR 125.
Although it is quite difficult for expats to find work in Nepal, places like Kathmandu and Pokhara offer a few lucrative opportunities. The cost of living is almost equal to that in India or is often even cheaper. Teaching English is a great job that can be done here.
It can also be a very profitable place for yoga trainers. Volunteering jobs without pay are found in abundance in all parts of Nepal. A beautiful country with a very low cost of living, Nepal is rightly placed on the list of the cheapest countries in the world. You can also join many of the programs (study + work) that are offered here for non-Nepalis.
Must Read: 8 Amazing Mountain Ranges in Nepal
- Currency – Bhutanese Ngultrum
- Currency value against INR – 1 INR = 1 BTN
- Popular job opportunities – Teaching English, IT jobs
- Cost of living – The rent for a furnished studio apartment is around INR 21711. You can get a proper meal along with a drink in business districts at prices as low as INR 375. Monthly public transportation passes can be bought at a price of INR 2000.
Known as ‘The Land of Happiness’, Bhutan is a country with a mesmerizing landscape. Very unique in its rich culture and traditional heritage, this is a country worth exploring. One of the cheapest countries in the world, Bhutan has a cost of living that is almost on par with India. For a break from your monotonous study and workplaces, head to Bhutan. You are guaranteed to have a truly rejuvenating experience at this cheerful country.
- Currency – Indonesian Rupiah
- Currency value against INR – 1 IDR = 0.00506998 INR
- Popular job opportunities – Banking, IT, Accounting and Finance, Mining.
- Cost of living – The rent for a furnished studio apartment is around INR 17711. Basic lunchtime menu (including a drink) in the business district will cost around INR 328. Monthly ticket public transport will cost around INR 1737.
It’s no surprise that Indonesia comes in top 15 cheapest countries in the world. It’s capital city, Jakarta is the most Instrammed city on Earth as revealed be Instagram recently. It’s is made up of 18,307 islands and is home to the world’s largest lizard, The Komodo Dragon. You have all the reasons to put this country in your bucket list.
- Currency – Colombian peso
- Currency value against INR – 1COP = 0.0205088INR
- Popular job opportunities – The most common types of jobs available are Professor, Journalist, International transportation (shipping), Commercial fishing and others.
- Cost of living – You can live a comfortable life in Colombia in $1,000 monthly budget. The rent for an Apartment (1 bedroom) in City Centre is around 20,816.5884 INR and Monthly Transportation Pass costs around 2,165.75 INR. Meal for 2 People, Mid-range Restaurant, Three-course will cost 1,333.09 INR.
The capital city of Colombia, Bogotá is the second largest capital city in South America and it is one of the highest capital cities in the world. The Colombian people are very friendly and hospitable. The music scene in Colombia is also very vibrant. Two famous musicians from Colombia are Shakira and Juanes. Colombia is home to the Cano Cristales – the “River of Five Colors” or the “Liquid Rainbow.” The river’s bed changes it’s color. If you love hiking, you won’t be disappointed. Colombian National Natural Park’s feature a large number of hiking routes.
- Currency – Cuban Peso
- Currency value against INR – 1 CUP = 2.72362 INR
- Popular job opportunities – Media broker, service industry jobs, mainly barber and waiter
- Cost of living – Monthly rent for a 480 sqft furnished studio in normal area is 20,200 INR, Monthly ticket public transport is somewhere around 1,900 INR and a combo meal in fast food restaurant will be roughly 500 INR.
Cuba is a place frozen in time. You will find here things repaired over and over to make them last for as long as possible. The weather in Cuba is also very great. If you like to spend your days in regions with great hot weather, then Cuba is the place. In Cuba beer/drinks is also very cheap. Local brands can be bought for under 2 dollars in most places. There are also a number of hiking trails and camping places and Cubans also love there music.
Even typical IT jobs and teaching English can seem so much more appealing when done in such a happy atmosphere.Living and working in the cheapest countries in the world can help you save up a lot of money and then, travel more once your job ends. Make sure to explore the deepest parts of the countries that you travel . Along with making good money, enhance the beauty of the memories that you make. Indulge in fantastic adventures!
After you choose the country you would like to travel to, ensure that you compare salaries. Also, enquire about the benefits or bonuses that you will be granted during the program.
Frequently Asked Questions
1. Which country has the highest cost of living?
Switzerland. It has one of the highest costs of living in the world.
2. What are some of the cheapest countries to live in?
Some of the cheapest countries to live in are:
- Saudi Arabia
3. What are some of the most affordable places to stay abroad?
Some of the most affordable places are:
4. Which country is the best for earning money?
Switzerland is the best country if you want to make more money. Though the cost of living there is high, the average salary a person earns there is also very high.