Venezuela does have an unfortunate reputation for being dangerous, but the country has some beautiful scenery, but very few foreign tourists visit the country, despite it being one of the most inexpensive on our list.
For those who do move to Venezuela, they live in gated communities due to the high crime rate. But beware, safety services like police, fire and civil protection can be notably scarce when faced with an emergency.
Rent is 18% cheaper
Groceries are 28% cheaper
Italy
It's pretty clear that not all of Italy is going to be cheap! Many countries have both expensive and inexpensive cities, sometimes you need to find a balance. Everything costs more in tourist areas, while affordable places might be a bit too off the path.
If you're looking for a Tuscan lifestyle at an affordable price then the province of Abruzzo is an excellent choice. It's close to Florence with access to the Adriatic coastline as well as mountainous areas.
Rent is 21% cheaper
Groceries are 18% cheaper
Nicaragua
Nowadays, Nicaragua offers the lowest cost of living in Central America, its been said that its 10 times cheaper than the United States. Nicaragua's lower cost of living doesn't suggest you have to compromise on the quality of life you may have gotten used to in the United States.
In fact, you will presumably be able to live with even more luxuries than you had before, simply because the prices are so reasonable in Nicaragua.
Rent is 26% cheaper
Groceries are 14% cheaper
El Salvador
The largest city of San Salvador may not be the best tourist destination when compared to the smaller town of Santa Ana. Bein another colonial town, it is friendly and easier to deal with than the capital, and it's easier to find English speakers here as well.
With a coastline of over 100 miles, teeming with warm beaches that are considered amongst the best in the world, El Salvador should be more renowned.
Rent is 30% cheaper
Groceries are 43% cheaper
Chile
Chile has made real steps when it comes to development in the last few decades. The capital city of Santiago could be mistaken for a city in the United States, as tall skyscrapers have jumped up along the Andes-filled city skyline. Chile probably has the lowest level of corruption in Latin America, as well as the strongest economy.
The cost of living in Chile is 40% lower than in the US, and when combined with the high standard of living, and the lowest level of poverty, Chile makes for a decent place to live.
Rent is 29% cheaper
Groceries are 36% cheaper