When it comes to travel and relocation, budget is, of course, a crucial factor to consider. The cost of living in a particular location can greatly impact your expenses, from accommodation and food to transportation and daily necessities.
Instead of just a short-lived luxury vacation, why not consider a move to a more cost-effective location where you can enjoy the same amenities without breaking the bank?
Graana.com has listed the cheapest cities in the world below, to help you find the most budget-friendly destinations for your next move.
List of Cheapest Countries in the World To Live In 2023
The following are the cheapest countries to live in, in 2023:
- Malaysia
- Vietnam
- Thailand
- Indonesia
- Colombia
- Mexico
- Bulgaria
- Portugal
- Greece
Malaysia
Malaysia has been gaining immense popularity as a travel destination in recent years – and for good reason. It offers a wide range of attractions and is also one of the most cost-effective places to live in.
For those looking to live in Malaysia, there are several options to consider. Kuala Lumpur and Penang are particularly popular as they offer a variety of reasonably priced accommodation options.
While Kuala Lumpur may be slightly more expensive than other cities, the vibrant capital comes with plenty of options for accommodation, transportation, dining and entertainment.
Monthly Living Cost: USD 1,290
Top Cheapest Cities to Live in Malaysia
- Penang
- Kuala Lumpur
Vietnam
Vietnam is a beautiful and exotic destination that offers a lot to explore and experience – all at a reasonable cost. The country is known for its delicious food options, and it has many popular cities to visit, such as Hanoi, Ho Chi Minh City and Phu Quoc, which feature affordable high-rise apartments, and a variety of cafes, restaurants, and nightlife options to explore.
However, it is important to note that these cities may be more expensive in terms of cost of living, and it may be more cost-effective to explore less well-known cities in Vietnam instead.
Finding affordable accommodation in Vietnam is relatively easy; you can browse through several options on Agoda, Facebook groups, Muaban, and Airbnb.
On average, the cost of a one-bedroom apartment in the city centre in Vietnam is around USD 360, while a one-bedroom apartment outside the city centre can cost around USD 240. Overall, Vietnam is one of the most budget-friendly countries to live in.
Monthly Living Cost: USD 1,320
Top Cheapest Cities to Live in Vietnam
- Ho Chi Minh City
- Phu Quoc
- Hanoi
Thailand
Thailand is also known for being one of the most affordable places to live and is especially a popular choice among backpackers.
The low cost of accommodation and food options, combined with its colourful culture, beautiful beaches, lush greenery, friendly locals, delicious cuisine, spas and various festivals make it an ideal destination.
Living in Thailand can be done on a budget of as low as $1,000 per month but, for a more comfortable lifestyle, a monthly budget of around $1,500 would be ideal.
Monthly Living Cost: USD 1,500
Top Cheapest Cities to Live in Thailand
- Chiang Mai
- Krabi
- Bangkok
- Phuket
Indonesia
From exotic beaches, lush jungles, stunning valleys, and fields of rice, to healthy food and cultural diversity, Indonesia has something for everyone. The country is also home to a variety of fantastic cafes, resorts, and restaurants that attract a number of visitors.
One of the most notable destinations in Indonesia is Bali Island, which is home to more nomads than any other island in the country. With its beautiful natural scenery, rich culture, diverse wildlife, and friendly locals, Indonesia is one of the most budget-friendly nations to reside in.
Monthly Living Cost: USD 1,700
Top Cheapest Cities to Live in Indonesia
- Canggu, Bali
- Seseh, Bali
- Jakarta
Colombia
Not only is Colombia budget-friendly, but it also boasts a great climate and breathtaking landscapes. One of the most popular destinations there is Medellin, the second-largest city in the country. It is also among the visa-free countries for Pakistan.
Known as the “City of Eternal Spring”, Medellin is located in the Andes mountains and is famous for its ideal climate, fine dining options, expansive views and its annual Flower Festival.
Colombia offers a diverse range of options, from tropical beaches with plenty of sunshine to the majestic mountains of the Andes and the Sierra Nevada de Santa Marta.
Monthly Living Cost: USD 1,750
Top Cheapest Cities to Live in Colombia
- Medellin
- Bogota
- Cartagena
Mexico
With its historical cities, stunning beaches, vibrant culture, sunny climate and fresh cuisine, Mexico has a lot to offer. One of the most popular destinations in the country is San Miguel De Allende, which is a UNESCO World Heritage Site and is known for its rich cultural traditions.
Mexico has become a popular place to live among expats, especially due to its lower cost of living.
Monthly Living Cost: USD 1,870
Top Cheapest Cities to Live in Mexico
- Mexico City
- Guadalajara
- Playa Del Carmen
- Puerto Vallarta
- Tulum
Bulgaria
Bulgaria may not be the first country that comes to mind when thinking of affordable places to live in. However, its location in Eastern Europe makes it a much more cost-effective place to live in, as compared to countries in Western Europe.
The cost of accommodation, food, and transportation is relatively low, with the average cost of a meal being around USD 3-5, and a basic hotel room costing around USD 20-30 per night. Public transportation is also affordable, with the average bus or metro bus ride costing around USD 0.50.
Monthly Living Cost: USD 2,050
Top Cheapest Cities to Live in Bulgaria
- Varna
- Sofia
- Plovdiv
- Burgas
Portugal
Portugal’s laidback lifestyle and charming architecture, dating back to the 16th century, draw many expats to this country. The idyllic ambience, paired with stunning scenery and friendly locals, makes it an attractive destination for those seeking an affordable cost of living.
With a temperate climate, tranquil beaches, a rich culture, and a high quality of life, it’s easy to see why Portugal is considered one of the top ten best countries to reside in. s.
Monthly Living Cost: USD 2,400
Top Cheapest Cities to Live in Portugal
- Lisbon
- Porto
- Lagos, Algarve
- Portimao
Greece
It would be surprising to know that the beautiful coastal cities of Greece have a low cost of living. The country is located in Central Europe, making it easily accessible for travellers from America and Europe.
The picturesque beaches, friendly locals, delicious Greek cuisine, and stunning Mediterranean islands are some of the reasons why Greece attracts visitors from all over the world.
The cost of living in Greece varies depending on the lifestyle you choose. Living in luxury on islands such as Mykonos can cost around $3,000 per month.
In lesser-known cities like Peloponnese, you can live comfortably with a budget of around $1,000 per month. If you’re looking for a more budget-friendly option, inland towns provide a comfortable lifestyle at an even lower cost.
Monthly Living Cost: USD 2,750
Top Cheapest Cities to Live in Greece
- Patras
- Chania, Crete
- Thessaloniki
- Rhodes
If you want to know about the 7 wonders of the world, visit Graana blog for more information.
FAQs
Here are some FAQs related to cheapest cities in the world
Which are the cheapest cities in the world?
The cheapest cities in the world include cities in various regions such as Asia, Africa, and Eastern Europe. Some examples are Tashkent (Uzbekistan), Karachi (Pakistan), Cairo (Egypt), Bucharest (Romania), and Kolkata (India).
What factors contribute to these cities being affordable?
The affordability of these cities is influenced by factors such as low cost of living, affordable housing options, reasonable food and transportation expenses, and availability of budget-friendly entertainment and activities.
Are there any drawbacks to living in these cheap cities?
While these cities offer cost advantages, there may be some drawbacks, such as limited job opportunities, inadequate infrastructure, and potential safety and security concerns. It’s essential to consider these aspects before making a decision to move.
Can I enjoy a good quality of life in these cities despite being cheap?
Yes, many of these cities provide a decent quality of life despite being inexpensive. Residents can enjoy cultural experiences, local cuisine, historical landmarks, and a vibrant community while managing their expenses effectively.
How can I find more information about living in these cheap cities?
You can find more information about these cities by researching online resources, reading expat forums, connecting with locals, and consulting with travel or relocation experts who can provide insights into the lifestyle and living conditions in these budget-friendly destinations.
