Top 10 Countries With Cheapest Cost Of Living In 2023
Have you ever dreamed of living in a country where everything costs under $1000?
If you have, then you'll be happy to know that the countries listed below offer just that!
This list was created based on monthly housing and living expenses and is intended for singles living alone. From countries in the Far East to tropical paradises in Central America, these are the 10 cheapest countries in the world to live in.
Top 10 Countries With The Lowest Cost of Living in The World
- Indonesia - 340 USD dollars
- Bolivia - 431 US dollars
- Nepal - 450 USD
- Vietnam - 500 USD
- Argentina - 542 US dollars
- Peru - 543 US dollars
- Mexico - $587 US dollars
- Malaysia - 588 US dollars
- Thailand - 679 USD
- Cambodia - 812 US dollars
The following list of countries and data is compiled from various sources on the web such as Forbes, Wikipedia and Nomad List. Here are the 10 countries with the lowest cost of living in the world:
10. Cambodia
Price: $812 per month
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It covers an area of ??approximately 181,035 square kilometers and is bordered by Thailand, Laos, Vietnam and the Gulf of Thailand.
The capital of Cambodia is Phnom Penh, with a total population of about 16 million.
In general, the cost of living in Cambodia is very affordable - under $1,000 per month. Renting a small one-bedroom studio in Sihanoukville, one of Cambodia's cheapest cities, will cost about $246 a month, or $32 a night on Airbnb.
Cambodia's currency is called Riel (KHR) and about 97.7% of the population is Buddhist.
9. Thailand
Price: $679 per month
Thailand is the ninth cheapest country in the world in terms of cost of living. Thailand, officially known as the Kingdom of Thailand and formerly known as Siam, is a country in the center of Southeast Asia with 76 provinces.
With a land area of ??more than 513,120 square kilometers, Thailand is the 50th largest country in the world with a total population of more than 69 million. In Udon Thani, one of the cheapest cities, a one-bedroom studio can cost around $199 a month or $40 a night on Airbnb.
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The capital of Thailand is Bangkok, the currency is the baht, and 94.50% of the population is Buddhist.
8. Malaysia
Price: $588 per month
In second place is Malaysia, where basic housing and living costs are $588 per month. Like the two previous countries, Malaysia is located in Southeast Asia and shares borders with Singapore, Thailand, Vietnam and Indonesia.
Malaysia consists of thirteen states and three federal territories divided into two regions by the South China Sea. The two regions, Peninsular Malaysia and East Malaysia, are similar in size and Malaysia has a total area of ??330,803 square kilometers.
Malaysia has a population of 31.6 million and its capital is Kuala Lumpur. It is one of the top 10 countries with beautiful roads in the world
When booking accommodation, you'll want to spend around $209 a month for a one-bedroom apartment in one of the cheaper cities like Kota Kinabalu, or $35 a month. night at Airbnb.
In Malaysia, you can get a beer for around $1.57, a coffee for $0.60 and a basic meal for $1.69.
7. Mexico
Price: $587 per month
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Mexico is at the southern tip of the United States. In addition to being surrounded by the United States, it also shares borders with the Pacific Ocean, Guatemala, Belize, the Caribbean Sea, and the Gulf of Mexico.
Mexico is the fifth largest country in the Americas with an area of ??approximately 2,000,000 square kilometers and the thirteenth largest state. It currently has a population of just over 129 million, with Mexico City as the capital.
83% of the population is Catholic and Mexico's currency is the peso (MXN). In Querétaro, one of Mexico's cheapest cities, a one-bedroom studio can cost about $256 a month to rent, or $24 a night on an Airbnb.
When it comes to necessities like beer, coffee, and eating out, you can spend about $1.54 per person. bottle of beer, about $1 for coffee and about $3.10 to eat out.
6. Peru
Price: $543 per month
The sixth cheapest country in the world is Peru. If you're looking for cheap accommodation, the average cost of living in this Spanish-speaking country is around $543 per month, so it's worth checking out.
Peru is a country located in western South America.
It borders Ecuador, Colombia, Brazil, Bolivia, Chile and the Pacific Ocean.
It has a population of 32.17 million and a total area of ??1,285,216 square kilometers. 73.7% of the population is Roman Catholic and Peru's currency is the Sol (Pen).
When booking a stay, expect to spend about $198 per month for a one-bedroom apartment downtown, or $24 per month. night at Airbnb. These prices are based on the city of Arequipa.
While there, eat and drink. A regular beer costs about $1.47, a cup of coffee about $0.98, and a meal out costs only $2.94.
5. Argentina
Price: $542 per month
Argentina closes our list in fifth place. In Salta, one of the cheapest cities in Argentina, one person can cover an entire month's housing and living expenses for only $542 per month.
Argentina is another Spanish-speaking country located in the southern half of South America. It borders Chile, Bolivia, Paraguay, Brazil, Uruguay, the South Atlantic Ocean and the Drake Passage.
Argentina is the eighth largest country in the world and the second largest country after Brazil, with a total population of just over 44 million and a continental area of ??2,780 km² with an area of ??400 km². If you are considering living in.
Argentina because it has one of the lowest cost of living countries in the world; then you'll be happy to know that you can get a one-bedroom apartment for just $100 a month. per month, or about $27 per night, depending on the season. It will be located in the city of Salta. Eating out costs around $1.70, beer around $0.80 and coffee around $0.55.
4. Vietnam
Price: $500 per month
Vietnam will cost you $500 for a full month as it is one of the cheapest countries in the world to live in.
It is the easternmost country on the Indochina Peninsula in Southeast Asia, bordering China, Laos and Cambodia. About 95.5 million people live in Vietnam with a total area of ??331,212 square kilometers.
Its capital is Hanoi and Ho Chi Minh City is its largest city. When choosing where to live in Vietnam, a one-bedroom apartment in the cheapest city of Nah Trang costs about $259 per month, while Airbnb costs $24 per night.
All other necessities like food, beer and coffee cost about $0.58 for coffee, $0.86 for beer and $1.73 for eating out. There are plenty of inexpensive things to do in Vietnam to keep you busy, and if you've been there for a while, like most of the places on this list, you'll likely find cheaper accommodations and activities.
3. Nepal
Price: $450 per month
At over $500 a month, Nepal is the third cheapest country in the world.
Nepal is located in Southeast Asia, mainly in the Himalayas, but also includes part of the Indo-Gangetic plain. Currently, the total population is 29.3 million living on a total land area of ??147,181 km².
Bordering China and India, Nepal is the 48th most populous country in the world and the 93rd largest country in the world by area. For $164, you can buy a one-bedroom studio in Pokhara, Nepal's cheapest city to live in; or you'll spend about $23 per night on Airbnb.
A bottle of beer costs about $1, a coffee about $0.73, and a meal out costs about $2.08.
2. Bolivia
Price: $431 per month
Bolivia is a landlocked country located in western South America. It has a current population of approximately 11.05 million people and a total area of ??1,098,581 square kilometers.
The capital of Bolivia is Sucre, and Bolivia is a multi-ethnic society that includes Indians, Africans, Asians, Europeans and mestizos. Bolivia is the fifth largest country in South America and the 27th largest country in the world.
For those of you who speak Spanish, you will be happy to know that Spanish is the official and main language of Bolivia; however, 36 other indigenous languages ??are spoken in the country.
In La Paz, one of Bolivia's cheapest cities, a one-bedroom studio can cost around $145 a month or $23 a night on Airbnb.
Beers and coffees are around $1 each, and eating out certainly won't break the bank since a regular meal costs $2.
1. Indonesia
Price: $340 per month
The cheapest place to live in the world is Indonesia. Indonesia, or the Republic of Indonesia, is located between the Indian Ocean and the Pacific Ocean in Southeast Asia.
With approximately 17,000 islands, it is the largest island nation in the world and has a total population of 264 million, making it the fourth most populous country in the world.
Some places in Indonesia, such as Bali and Jakarta, have prices more comparable to other major western cities in the world.
But places like Senggigi in Lombok can offer you accommodation and living expenses for only $340 per month. You're looking to pay around $142 per month for a 1 bedroom studio or $12 per night for a hotel.
Luxuries like beer, coffee and coconuts cost just $0.89 for beer, $0.10 for coconut, $0.71 for coffee and $1.77 for a meal out. Indonesia is the country with the lowest cost of living in the world.
Summarize
We hope you enjoyed our list of the 10 cheapest countries in the world. If you liked this list, also check out our list of the 10 most expensive countries to live in.
How about $340 a month for housing and living expenses, is that great? And best of all, you'll also be living on a tropical island paradise!
