Top 10 Cheapest Countries to Live 2023

August 20, 2020January 3, 2023 Kanchi Jain 0 Comments

If you ever thought of living in a country where you can survive under $1000/month (Cheapest Countries to Live in), then this article is definitely worth reading. You’ll be thrilled to know that such countries actually exist in the world.

While most of these countries are Southeast Asians, some of them are also from North America.

Scrolling down you will find the list of the Top 10 Cheapest Countries to live in the World for the year 2023 which is created on the basis of accommodation and living expenses per month, for a single person living on their own.

Note – All the figures mentioned below are approximate and may vary.

Top 10 Cheapest Countries to live in the World:

10. Cambodia

Cost: $812/Month

At the tenth place in this country which is located in the southern portion of the Indochina peninsula in Southeast Asia. The Cost of Living in Cambodia is pretty economical depending upon the type of lifestyle.

Cost of accommodation, public transport, food, and education are available at cheaper rates compared to other places. However, over the last couple of years, the country has been affected by inflation and has witnessed a rise in the price of everyday items.

9. Thailand

Cost: $679/Month

Known for its tropical beaches, magnificent royal palaces, ancient ruins, and adorned temples displaying figures of Buddha, Thailand is also a Southeast Asian Country. Items made in Thailand are inexpensive usually because of the low labor costs.

It isn’t because Thailand is a poor country as considering its natural resources, geographical location, basic infrastructure, and overall labour skills we can decipher that Thailand is in a much better position than most of its neighbors. Moreover, being an agricultural country, food is also relatively affordable.

8. Malaysia

Cost: $588/Month

The country is multi-ethnic and multi-cultural, which has a significant effect on its politics. Malaysia’s travel links to other Southeast Asian countries are convenient as well as inexpensive.

Moreover, food prices are generally quite low, particularly for local products. As a result, retirees and ex-pats find Malaysia as one of the best places, given its lower cost of living.

7. Mexico

Cost: $587/Month

Known as the origin country of chocolate, Mexico is also famous for its food and drink culture. Food and groceries are cheaper because most of the products are grown there itself which reduces the import of the country.

In addition, commuting and housing are also affordable. Though the prices in some areas have increased a bit over the time, Mexico continues to fulfil its promise of providing an inexpensive life in the lap of natural luxury.

6. Peru

Cost: $543/Month

The country with three official languages, Peru, is also famous for Machu Picchu. Peru is also known for providing one of the most varied, tasty as well as affordable cuisines in the world.

With breathtaking sites to visit, Peru also renders low-cost housing as well as less tax compared to other countries. On top of it, Peruvians are one of the most friendly and welcoming people in the world.

5. Argentina

Cost: $542/Month

Home of the iconic football player, Lionel Messi, Argentina stands at the fifth place on this list. The country is renowned for its wine and from north to south, Argentina is enriched with delicious culinary delights.

Moreover, Argentina has a diverse artistic culture as well as a great climate. These things prove why Argentina is one of the best places for retirees and ex-pats.

4. Vietnam

Cost: $500/Month

Vietnam being a top-worth-visiting place due to its ancient history also has a diverse culture as well as quintessential natural landscapes. Apart from being inexpensive, Vietnamese food is also considered as one of the healthiest cuisines in the world.

It is to be noted that in order to live cheaply in Vietnam, one has to live like a local because the western products that aren’t made in Vietnam are often quite expensive due to import taxes levied on them.

3. Nepal

Cost: $450/Month

Famous for its high mountain peaks, Nepal is also known for its historical temples. There are a surprising number of foreigners living in Nepal predominantly Indians, Asians, and Europeans.

Friendly people, affordable things to buy along with nice sceneries makes Nepal one of the best countries for retirees. It should be noted that it is much cheaper to live in the far western region than the eastern region.

2. Bolivia

Cost: $431/Month

Bolivia is very famous for its ethereal salty flats also known as the Salar de Uyuni. This eye-catching magnificent white expanse is the largest and highest in the world.

Bolivian food as well as renting a place are much cheaper as compared to other parts of South America.

Though the cost of living in Bolivia has risen over the last few years, it still continues to be one of the cheapest countries to live in.

1. Indonesia

Cost: $430/Month

With more than 17000 islands, Indonesia is the largest archipelago in the world. It is very famous for its local crafts and handiworks.

Knowing the fact that Indonesia has abundant land to grow crops along with low waged labourers, we can figure out why the food is inexpensive in the country.

Like in most countries, living and renting properties in Indonesia also depends on the neighborhood along with the type of living facility one is renting.

Also Read: Top 10 Most Expensive Cities In The World 2023