# Cheapest countries to live in the world Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2023-01-25 Category: LIFESTYLE Category URL: https://financedigest.com/category/lifestyle Meta Title: Top 5 Affordable Countries to Live in: Bulgaria, Hungary, Meta Description: Explore affordable living options in Bulgaria, Hungary, Romania, Montenegro, and Belarus. Enjoy delicious local cuisine and stunning landscapes on a budget! URL: https://financedigest.com/cheapest-countries-to-live-in-the-worldhtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/cheapest-countries-to-live-in-the-world-1736814545320-compressed.jpg) # Cheapest countries to live in the world It is no secret that many countries in the world are considered cheap to live in. However, the truth is that these nations are not always the cheapest places on earth. Some of them are even more expensive than the other more popular destinations in the world. If you want to live cheaply in the world, there are many options available for you. Some of these countries are Bulgaria, Hungary, Romania, Montenegro, and Belarus. The main advantages to [living in these countries are that they are very affordable](https://www.financedigest.com/still-living-at-home-a-third-of-the-nation-cant-afford-to-rent.html "Still living at home? A third of the nation can’t afford to rent"), and you can find a wide selection of foods and drinks to suit your taste. They are also popular for their beautiful landscapes and scenery. ## Romania ![Cheapest countries to live in the world](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/romania-1736814545268-compressed.jpg) Romania is one of the cheapest [countries to live in Europe](https://www.financedigest.com/best-countries-in-europe-to-live-in.html "Best countries in Europe to live in"). It offers good food and great views. The economy is growing rapidly. While this may sound enticing, it does require some level of caution. The economy has [suffered from the global](https://www.financedigest.com/will-global-commodities-suffer-as-a-result-of-brexit-the-experts-at-easymarkets-think-not.html "WILL GLOBAL COMMODITIES SUFFER AS A RESULT OF BREXIT? THE EXPERTS AT EASYMARKETS THINK NOT!") economic crisis. This has resulted in a bailout, sponsored by the European Commission and the [World Bank](https://www.financedigest.com/post-crash-banking-regulation-is-transforming-the-world-of-corporate-lending-for-the-better.html "Post-crash banking regulation is transforming the world of corporate lending – for the better"). Despite these efforts, corruption remains high at all levels of government. However, Romania is an attractive destination for foreigners, especially those looking to set up a life overseas. With the right amount of caution, you can live on a modest budget. Romania is home to numerous mountains and rivers for hiking and swimming. There are also lakes for fishing. As a result, this country is an excellent place to learn outdoor sports. A decent apartment in Bucharest will cost around 350 [dollars a month](https://www.financedigest.com/european-shares-hit-nine-month-high-dollar-wobbles-after-powell-remarks.html "European shares hit nine month high, dollar wobbles after Powell remarks"). This is less than a fifth of the average monthly salary in the country. Romania is known for its fast internet. It has one of the [fastest download speeds in the world](https://www.financedigest.com/top-10-fastest-bikes-in-the-world.html "Top 10 fastest bikes in the world"). In addition, it has one of the most affordable Internet services in the EU. The city is also a hub for digital nomads. If you’re planning to work from Romania, you’ll find plenty of co-working spaces. You can even get a free bottle of wine from a local pizza delivery company. ## ![Cheapest countries to live in the world](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/montenegro-450x300-1736814545302-compressed.jpg) Montenegro Montenegro is one of the cheapest countries in Europe to live in. You can choose from a wide range of real estate options including cheap apartments and villas. Several local [banks are ready to issue mortgages](https://www.financedigest.com/britain-urges-banks-to-offer-mortgage-flexibility-in-cost-of-living-crisis.html "Britain urges banks to offer mortgage flexibility in cost-of-living crisis") to foreign buyers. As a foreigner moving to Montenegro, you will need to learn the local language. This is especially important if you want to interact with government officials. It is a requirement for anyone with a foreign passport. It is also a good idea to hire an ex-pat moving company to help you with the move. The process is fairly simple. But you will need to find a lawyer who [speaks your language](https://www.financedigest.com/how-can-fintechs-better-engage-zillennials-with-their-financial-health-the-answer-lies-in-speaking-to-them-in-their-own-language.html "How can fintechs better engage Zillennials with their financial health? The answer lies in speaking to them in their own language"). Montenegro has a relatively simple tax system. There are several taxes that you may have to pay, but they are minimal compared to other European countries. Food is quite inexpensive. It can cost as [little as five Euros](https://www.financedigest.com/big-fall-in-euro-zone-inflation-offers-little-help-for-ecb.html "Big fall in euro zone inflation offers little help for ECB") for a restaurant meal. Basic groceries are available for under ten euros. Healthcare in Montenegro is covered by the public system. The country has 19 health centers and a total of 554 nurses. However, medical facilities are short of pharmacists. Fortunately, most medicines can be purchased for under 10 euros. Living in a [capital](https://www.financedigest.com/collegiate-ac-and-shuman-capital-launch-e300-million-european-student-living-fund.html "Collegiate AC and Shuman Capital launch €300 million European Student Living Fund") city is slightly cheaper than living on the coast. Rents can be higher, though. One of the best reasons to move to Montenegro is its favorable tax system. Unlike many other countries, it has a single-digit income tax rate in Europe. ## Moldova ![Cheapest countries to live in the world](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/moldova-1736814545239-compressed.jpg) If you’re looking for an affordable and cheap destination to live in, Moldova is a great choice. This small, landlocked country is located between Romania and Ukraine. It has a lot to offer. One of the best things about Moldova is its culture. The people are warm and friendly. Most of the country’s population is Russian-speaking. Food is a big part of living in Moldova. Most meals in restaurants are under 10 Euros. There are many affordable wine tours. You can enjoy a [glass of delicious Moldovan wine](https://www.financedigest.com/viva-el-vino-perfect-spanish-homes-for-wine-lovers-as-unwto-raises-a-glass-to-wine-tourism.html "Viva el vino! Perfect Spanish homes for wine lovers as UNWTO raises a glass to wine tourism") for just a few dollars. The country’s wine goes hand in hand with its fantastic food. You can get a three-course meal for less than 15 Euros. Accommodation in the city centers is slightly more expensive than in the outskirts. However, you can find a cheap one-bedroom apartment for about 250 Euros. Utilities are also relatively cheap. A single person can pay 120$ for utilities. These include water, electricity, and gas. While Moldova has a strong economy, it’s not as developed as some of its neighboring countries. Moldova is one of the least visited nations in Europe. Moldova has a small ex-pat community. Many work for multinational corporations, as well as embassies and NGOs. Those who plan to stay in Moldova for a long time can expect to make around 700$ a month. Although this isn’t enough to live comfortably, it is enough to get by. ## Azerbaijan ![Cheapest countries to live in the world](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/azerbaijan-1736814545335-compressed.jpg) Azerbaijan, a landlocked country in the Caucasus region of south-eastern Europe, is one of the cheapest countries to live in. With a GDP per capita of $4,794, Azerbaijan’s economy is on par with those of developed countries. However, it’s been [facing a downturn since 2014 that forced the government](https://www.financedigest.com/estonias-pro-kyiv-government-faces-election-test-amid-cost-of-living-crisis.html "Estonia’s pro-Kyiv government faces election test amid cost of living crisis") to take steps toward market-economy reforms. Azerbaijan’s economy was bolstered by relatively high [oil prices](https://www.financedigest.com/oil-prices-steady-after-u-s-stockpile-swell.html "Oil prices steady after U.S. stockpile swell"), which helped to stabilize the nation’s economy. However, production decreased during the COVID-19 pandemic. This decline contributed to a significant increase in the public debt-to-GDP ratio, which climbed to 24.5% in the first nine months of 2020. The [banking sector in Azerbaijan is recovering after the devaluation of the national](https://www.financedigest.com/swiss-national-bank-says-inflation-battle-not-yet-won.html "Swiss National Bank says inflation battle not yet won") currency in 2015. It has two state-owned banks. However, due to a lack of liquidity, the [Financial Markets Supervisory Agency was forced to close](https://www.financedigest.com/fast-track-financial-close.html "FAST-TRACK FINANCIAL CLOSE") in November. The country has significant problems with corruption. Despite the country’s anti-corruption law, bribery remains a serious problem in public service. State officials frequently interfere with legal procedures to extract bribes. Property rights legislation in Azerbaijan is weak. Politically motivated infringements of property rights are also a common problem. The country is heavily reliant on its neighbors for oil exports. In addition, it suffers from low wages, pensions, and health care. Corruption is a major obstacle in the development of a market economy. There are gaps in the property registration laws and powerful oligarchs regularly violate property rights. ## ![Cheapest countries to live in the world](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/belarus-450x300-1736814545202-compressed.jpg) Belarus Belarus is a small country bordering Russia, Ukraine, and Poland. The country gained independence in 1991. Although it is a member of the European Union, it is not closely aligned with the bloc. In 2010, Belarus’ private sector [share of GDP](https://www.financedigest.com/hopes-of-slowdown-in-rate-hikes-bolster-shares-ahead-of-u-s-gdp.html "Hopes of slowdown in rate hikes bolster shares ahead of U.S. GDP") was estimated at 30 percent. However, the government controls the economy and remains largely non-market. Since 2011, Belarus’ growth has slowed considerably. This has resulted in a significant devaluation of the ruble. The devaluation was accompanied by a ban on all [price increases](https://www.financedigest.com/taylor-wimpey-espana-remain-cautiously-optimistic-as-average-selling-price-increases-by-20-4.html "Taylor Wimpey España ‘remain cautiously optimistic’ as average selling price increases by 20.4%"). Belarus aims to reduce its debt-to-GDP ratio. It is also trying to reform its economic policy. It has attempted to restructure its large state-owned enterprises. One of the most prominent competitiveness drivers is the increasing contribution of small and medium-sized enterprises. Another is innovative development. The country has also ratified some of the main anti-corruption international instruments. Some of its major public health indicators are good. A large share of the country’s population is literate, although [adults spend an average of fifteen years in the educational](https://www.financedigest.com/1-in-3-adults-dont-believe-school-education-prepared-them-for-adult-life.html "1 in 3 adults don’t believe school education prepared them for adult life") system. Nevertheless, alcohol abuse is a big factor in low life expectancy for Belarussians. Belarus’ regime censors the media. It deliberately targets independent journalists and trade unions. Also, it lists opposition politicians as terrorists. According to the Human Development Index (HDI), Belarus ranks 53rd in the world. Life expectancy is 66.5 [years for men and 78 for women](https://www.financedigest.com/explainer-international-womens-day-date-history-and-this-years-theme.html "Explainer-International Women’s Day: date, history and this year’s theme"). ## South Africa ![Cheapest countries to live in the world](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/south-africa-1736814545256-compressed.jpg) If you’re an ex-pat considering moving to [South Africa](https://www.financedigest.com/inmobi-and-coca-cola-win-mma-smarties-south-africa-award-for-beat-can-campaign.html "InMobi and Coca-Cola Win MMA SMARTIES South Africa Award for Beat Can Campaign"), you’ll be happy to know that you can still get a nice quality of life here. For example, it’s one of the most affordable places to retire. Although it is a largely developed country, South Africa still has some areas of deprivation. Approximately 12 million people live in extreme poverty. Nevertheless, there has been a lot of progress made in reducing this number. One of the biggest achievements in improving [life](https://www.financedigest.com/european-junk-debt-sales-spring-back-to-life-as-sentiment-improves.html "European junk debt sales spring back to life as sentiment improves") expectancy in South Africa has been the improvements in medical and public health. The life expectancy of women has also increased. However, men still have a life expectancy of only 61 years. Having a job is important in boosting the quality of your life. Not only does it provide you with an income, but it also develops your skills and improves your chances of finding a good job. There are many options for jobs in South Africa, from tourism to international companies. Educating yourself is also a great way to increase your chances of finding a good job. In South Africa, about 39% of the working-age population has a paid job. As you might expect, the cheapest [place to live](https://www.financedigest.com/terraced-streets-most-neighbourly-places-to-live.html "Terraced streets most neighbourly places to live") in South Africa is not in a city like Johannesburg. Instead, you’ll want to focus your attention on some of the towns and cities in South Africa’s coastal region. ## Bulgaria ![Cheapest countries to live in the world](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/bulgaria-450x300-1736814545215-compressed.jpg) Bulgaria is a country that boasts an **affordable way of life**. You can live on less than $800 a month, and you’ll be pleasantly surprised at what you can get for your money. One of the most obvious reasons to move to Bulgaria is the low [cost of living](https://www.financedigest.com/indefensible-uks-sunak-under-fire-over-response-to-cost-of-living-crisis.html "‘Indefensible’: UK’s Sunak under fire over response to cost of living crisis"). While the [cost of food](https://www.financedigest.com/analysis-east-europeans-count-their-pennies-for-christmas-as-food-costs-soar.html "Analysis-East Europeans count their pennies for Christmas as food costs soar") and housing can vary from city to city, the cost of consumer goods is surprisingly low. For instance, a high-speed internet connection is quite cheap. A decent meal in a restaurant can be had for as little as 10 leva. Also, the prices of household items like gas, electricity, and water are relatively cheap. Getting around in most of the major cities in Bulgaria is not a problem. Most of them have efficient public transport systems. However, you can [save even more money](https://www.financedigest.com/6-tips-to-save-money-on-your-next-used-car-purchase.html "6 Tips to Save Money on Your Next Used Car Purchase") by opting for low-cost rental options. In the biggest cities of Bulgaria, a one-bedroom [apartment can be rented](https://www.financedigest.com/why-are-there-so-few-apartments-to-rent-in-liverpool-city-centre.html "Why are there so few apartments to rent in Liverpool city centre?") for as little as $232 a month. If you’re looking for a more laid-back lifestyle, Haskovo might be the place for you. This small town is surrounded by mountains and is a great place for anyone who wants to escape the big city. ## Hungary ![Cheapest countries to live in the world](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/hungary-1736814545722-compressed.jpg) If you’re considering relocating to Europe, you should know that there are several countries with great quality of life, while also being affordable. Hungary ranks among the top ten cheapest countries to live in Europe. This is because Hungary is a landlocked country, allowing for a lower [cost of living](https://www.financedigest.com/5-ways-to-support-your-employees-during-the-cost-of-living-crisis.html "5 ways to support your employees during the cost of living crisis "). The country has a temperate climate and world-famous thermal springs. It’s a beautiful place to live. Despite its small population, it offers a wealth of amenities and opportunities. For instance, rent in Budapest is cheaper than in most Western European cities. Food is surprisingly affordable, as well. You can live in a one-bedroom apartment for around EUR250 a month. This amount is enough to cover necessities, including utilities and entertainment. However, if you want to save a little more, you can look for cheaper locations elsewhere in the country. Ukraine is another affordable European country. It’s located along the Black Sea, next to Russia. Though it’s still one of the poorer members of the EU, its [local purchasing power](https://www.financedigest.com/danich-local-and-regional-banks-launch-mobile-wallet-powered-by-nets-new-hce-and-tokenisation-platform.html "DANICH LOCAL AND REGIONAL BANKS LAUNCH MOBILE WALLET POWERED BY NET’S NEW HCE AND TOKENISATION PLATFORM") is decent. One of the cheapest countries to live in, Slovakia is an [emerging European ex-pat hotspot](https://www.financedigest.com/mallorca-emerges-as-this-years-summer-hotspot-as-british-buyers-return-to-spain-in-their-masses.html "MALLORCA EMERGES AS THIS YEAR’S SUMMER HOTSPOT AS BRITISH BUYERS RETURN TO SPAIN IN THEIR MASSES"). Its economy is growing rapidly and there are in-demand professions for foreigners in the banking and IT sectors. Combined with its low costs, it’s easy to see why. Albania is a country with a rich culture and history. With its ancestors being closely connected with the Ottoman Empire, it has a lot to offer. ## ![Cheapest countries to live in the world](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/slovenia-450x243-1736814545652-compressed.jpg) Slovenia Slovenia is a beautiful country with many natural treasures. Its capital city, Ljubljana, is a UNESCO World Heritage Site. The Karst Plateau is located between the Mediterranean Sea and the Slovenian capital. Slovenia is a country in Central Europe. In 1848, it was part of the Kingdom of Serbs, Croats, and Slovenes, which merged with Serbia in 1918. When Yugoslavia was formed in 1929, it included Slovenia. Its population is around two million. A liter of petrol costs EUR 1,23. Public transportation is relatively cheap. However, the country’s infrastructure is not up to par. You can find a three-course meal at a mid-range restaurant for EUR 25. Slovenia has one of the highest per capita GDPs in Central Europe. This makes it a popular destination for remote workers. The country has rich indigenous wildlife, including the Carniolan honeybee and the Lipizzan horse. You can also find several cave species in Slovenia, including the olm, a type of cave vertebrate. In the 19th century, the Romantic nationalist movement prompted a revival of culture and a quest for autonomy. But the attempt to collectivize [failed in the early](https://www.financedigest.com/are-the-over-55s-accessing-their-pensions-early-failing-to-plan-for-later-life.html "Are the over-55s accessing their pensions early failing to plan for later life?") 20th century. During World War I, hundreds of thousands of Slovenes died. Several hundred thousand were resettled in refugee camps in Italy. The idea of a United Slovenia emerged during the 1848 revolutions. Most of the Slovenian parties in Austria-Hungary supported this platform. --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---