Feeling overwhelmed by the hustle and bustle of overcrowded cities, sky-high rents, and life mortgages? There are countless places around the world where you can live more affordably, and these exotic destinations may make you consider packing up and moving, at least temporarily. Discovering low-cost destinations involves two basic principles: First, if a place is cheap to travel to, it’s often inexpensive to live there. Second, the cheapest places are usually far from large cities and crowds. Keep in mind, the definition of “cheap” varies from person to person, but if you’re looking to spend just a few dollars a day, these spots in Asia and Central America might pique your interest.
Thailand is a top tourist favorite, offering year-round sun, exotic food, beautiful beaches, and surprisingly low prices. You can find accommodation for around 20 euros a month (100 euros by the coast) and spend approximately 150 euros monthly on food. It’s possible to live in this paradise on a very low budget!
Cambodia might not immediately come to mind as a paradise, especially considering its history with the Pol Pot regime and widespread poverty. Though it lacks the stunning beaches of Thailand, you can live comfortably in Phnom Penh for less than 250 euros a month. Dining out can cost as little as two euros, and fast food is even cheaper. However, you will need to budget for visa costs, which are around 250 dollars per year. Living in the Angkor area is also an option for those on a tighter budget.
The Philippines offers affordable living in areas like Cebu, one of the country’s most developed provinces. You can rent an apartment for just 100 euros per month, and food is comparably cheap to Thailand and Cambodia, with a large beer costing about 50 cents. Additionally, the Philippines has a special visa program for retirees, available from the age of 35, though this requires a bank deposit of over 34,000 euros. From age 50, you need to deposit 6,800 euros and show a monthly pension of 540 euros for singles or 680 euros for couples. Malaysia has a similar program called “My Second Home.”
Moving on to the Caribbean, Costa Rica stands out as a developed and politically stable Central American country. You can live comfortably with just a few euros. The country boasts 12 different climate zones and a rich biodiversity. The warm, tropical climate and friendly locals are major highlights. Excellent meals at restaurants cost around 3 euros or less, and prices drop if you buy food from local markets or street vendors. For example, a bunch of bananas costs about 30 cents, and a pack of tobacco is around 90 cents. Supermarket prices are typically 30% higher than those at local markets. You can rent a whole house for about 150 euros a month, though prices in the capital are higher.
Despite its beauty, Belize remains relatively unknown in the tourist world. This country offers a paradise at a bargain price and is considered one of the most beautiful in Central America. It has stunning beaches, a subtropical climate, and diverse wildlife. English is the official language, making it convenient for many expatriates. It’s also a perfect spot for diving enthusiasts, with Belize’s coral barrier featuring 127 offshore islands and one of the best-preserved marine ecosystems. The cost of living is similar to that in Costa Rica. A large house in the Cayo District, an hour’s drive northwest of the capital, can be rented for around 210 euros a month (or 70 euros if shared with friends). Buying local food keeps costs low, as imported goods are about 50% more expensive. If you’re 45 or older, Belize’s retirement program lets you live tax-free, helping you save even more.