Travelling around the world as much as possible is a dream shared by millions, and a large number of those millions take the plunge with the intent of seeing as much as possible. But sometimes life can get in the way, and instead of packing up and heading home, many would prefer to make it work wherever they end up, which usually means long term residency.
This is where it can pay to know how much it costs to live in a particular region, especially when it comes to the overall cost of living. This can range from the cost of monthly rent to how much groceries will set a person back. Choosing a country that has a low cost of living can make a big difference in building up long-term savings.
Mexico has something of a mixed reception when it comes to residency, mostly because only small parts of it have very high crime rates. The rest of the country, however, is exceptionally beautiful, packed with plenty of culture, great food, and even better people. It also boasts a very low cost of living, especially for those that are coming from a country like the United States or Britain, where things are relatively much more expensive. Due to its place between South America and the US, the cost of food is very low, and in the right areas, rent can be as low as $250 a month.
Truly a country for the adventurous at heart, Costa Rica is known for its incredible jungles, friendly and welcoming people, and it’s fresh food markets. Many of the world’s most popular fruits come from this region, meaning they are cheap to buy locally, and rent usually averages at around $500 a month for a decently-sized apartment. The “Pura Vida” way of the people makes it the perfect destination for anyone wanting to live in a place with truly laid-back people, with plenty of options of where to play and work.
Despite its otherwise difficult history, Vietnam has turned into a unique and vibrant country that has endless amounts to see and do. From gorgeous landscapes to mind-blowing foods, the adventure never truly ends for those that want to settle down. The people are well known for being extremely welcoming, and because the local currency, the Dong, is weak compared to the dollar and other developed currencies, it’s possible to start up there very easily with a small amount of capital.
Thailand is another country that has become a paradise for digital nomads due to the low cost of living, with the country having some of the very lowest food prices in the world. Commonly known as the Country of Smiles, Thailand offers visitors the chance to interact with the friendly locals, as well as sample their unique and delicious cuisine. On top of that, Thailand has a huge list of activities, from beaches, jungle adventure, dining out, and so much more. Living on Thailand can cost as little as $600 a month.