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
Venezuela
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
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
Nigeria
A new entry on our list is Nigeria. Many may wonder about the high levels of corruption, occasional fuel shortage, and the havoc caused by Boko Haram, but Nigeria remains one of the cheapest countries in Africa.
With national reserve parks and wide-open savannahs next to towering mountains to the thriving nightlife in Lagos. It might also be one of the countries with the best tax rates.
Rent is 44% cheaper
Groceries are 31% cheaper
Latvia
Many grow up daydreaming about living in Europe one day, and Latvia ticks a lot of the boxes for those looking for in a European home. The biggest city in the Baltics, Riga has the quality to rival the most popular tourist destinations in Europe.
With amazing architecture, inspiring history, and quaint countryside scenes all for dirt cheap prices, making it a sound choice if you're planning to move to a country in Europe.
Rent is 30% cheaper
Groceries are 35% cheaper