If you are dreaming of living in a foreign country, you may want to read on for the study of InterNations which have identified the most affordable places around the world.
In order to find the cheapest destinations for expats, InterNations asked more than 14,000 expats from almost 200 countries to rate the cost of living in their new home. They rated their daily spending on a scale from one to seven, which is from “very bad” to very good”.
Foreigners rated Ecuador, Poland and the Czech Republic as the countries with the lowest cost of living. Ecuador was also ranked first for personal finances for the second year in a row: Not only are the costs of living considered the lowest in the world, but more than a quarter of expats in Ecuador (26 per cent) are completely satisfied with their financial situation, compared to 15 percent globally. The reason why expatriates in Ecuador are especially happy with their financial gains is not on account of their income though: More than half of the survey respondents there who disclosed their income status have a gross yearly household income of less than 25,000 USD.
Second-placed Poland on the other hand, scores with affordable housing and great job and career opportunities, ranking fourth and sixth in the respective category, out of 64 countries overall.
The Czech Republic, however, is not a destination for career-oriented expats — instead, it is perfect for those who are looking for a better quality of living. In the Quality of Life Index, it ranks in place eight. And just like Poland, the country offers very good housing opportunities for expats, ranking sixth with regard to affordable housing.
The countries with the lowest costs of living are mainly located in South America, Central Europe and Asia. The only surprising exception is Saudi Arabia, which ranked ninth after Romania and before Indonesia