Spain has long been a popular relocation destination, and for good reason. This large country has a lot of history and culture.
Although not all ex-pats in Madrid are from cities as expensive as San Francisco, it’s undeniable that for Americans, the cost of living in Spain is pretty cheap.
Rent is 24% cheaper
Groceries are 14% 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
Guatemala
Guatemala is home to mountainous terrain and a diversity of ecosystems. Wetlands, lakes, swamps, deserts, beaches, and rivers make this country unique. There are Mayan ruins and indigenous Mayan people living in quaint villages as well as the colonial ruins of Antigua to see.
Guatemala has the strongest economy in Central America, but more than half the population is poor, surviving on $2 per day. On the upside, it is a friendly culture and new people are welcomed.
Local purchasing power is 3 times lower
Rent is 2 times lower
Groceries are 53% lower
Local goods and services are 30% lower
Honduras
One of the best places in Honduras to relocate is Roatan. It is an island off the coast of the Central American nation located in the Caribbean. Visas are easy to obtain. All of Honduras boasts an enviable climate and beautiful natural surroundings.
For $200,000, you can call a beachfront condo in the Caribbean home. Roatan was named one of the best islands to retire by “International Living,” however, life is not great for locals. Honduras is the second poorest country in Central America.
Local purchasing power is 3 times lower
Rent is 75% lower
Groceries are 91% lower
Cost of living is 41% lower