11 Cheapest Countries To Live Worldwide 2024
Explore the 11 cheapest countries to live in worldwide in 2024, offering affordable living, stunning destinations, and great quality of life for budget travellers.
ELEVEN (11)
Mwenda Kelvin (Chief Editor)
12/4/20246 min read
Circle Flags Countries (Credit: Pixabay)
The cost of living has been continuously increasing in many nations in the modern world and people all over the world are feeling the strain, whether it is from skyrocketing rent, growing food prices, or the ever rising expense of healthcare. Many people, particularly those who want to live overseas or retire somewhere with a cheaper cost of living, are looking for ways to control their spending as inflation continues to have an influence on global economies.
Finding a nation with a reasonable cost of living can be crucial to improving the quality of life for retirees, digital nomads, and anybody else seeking an affordable lifestyle. In addition to saving money, choosing a less expensive location will allow you to take advantage of better experiences, eating habits, and accommodations. In this blog post article, we look at 11 of the most affordable/cheapest places to live in the world in 2024 with each of these places combining affordable living expenses with excellent quality of life as follows:
Nigeria 🇳🇬
Size: 923,769 Square Kilometres
Monthly Cost of Living: $355
Population: +234 Million
Nigeria is a country in West Africa that is well-known for its thriving cities, rich history, and lively culture being among the most cost-effective countries for both locals and foreigners, with an average monthly cost of living of about $355. Cities like Abuja provide a more serene lifestyle, while Lagos, the nation's most populated city, offers a blend of metropolitan conveniences and contemporary infrastructure. Nigeria's cost of living is still modest by Western standards, despite the country's economic problems, which include political unrest and inflation with also comfortable flats being available for a fraction of the price you would pay in a big Western city, and rent is very reasonable making it a desirable location for people seeking to live reasonably priced without making significant lifestyle sacrifices because of its pleasant climate and unique culture.
Pakistan 🇵🇰
Size: 796,096 Square Kilometres
Monthly Cost of Living: $357
Population: +252 Million
Another excellent choice for people looking for reasonably priced housing is Pakistan which is home to more than 250 million people, a diverse range of landscapes, from the busy metropolis in the south to the untamed mountains in the north and is one of the most affordable countries in the world, with an average monthly cost of living of about $357. Rent is cheap, utilities are cheap, and there are many different meals alternatives at very moderate pricing in cities like Lahore and Islamabad with also modern apartments and facilities being found even in the largest cities at a fraction of the cost of those in the United States or Europe not forgetting that many regions of Pakistan are still safe and friendly to foreigners, despite political and security issues in some places.
Malawi 🇲🇼
Size: 118,484 Square Kilometres
Monthly Cost of Living: $361
Population: +21 Million
Malawi is a small landlocked nation in southeast Africa that is frequently referred to as the "Warm Heart of Africa" and despite its small size, Malawi provides an amazing standard of living at a very reasonable price. Even by African standards, Malawi's monthly cost of living is relatively inexpensive at about $361 with Lake Malawi being a major highlight of Malawi's renowned natural beauty. With affordable housing and food alternatives, expats may live happily on a limited budget. Additionally, the nation is home to a close-knit community of foreign NGOs (Non-Governmental Organisations) and volunteers, which offers newcomers a welcoming atmosphere.
Nepal 🇳🇵
Size: 147,181 Square Kilometres
Monthly Cost of Living: $392
Population: +29 Million
Nepal is a desirable location for anyone looking for a more economical way of life among breathtaking natural beauty whereby with monthly expenses average about $392, this Himalayan country, which is well-known for Mount Everest and its rich cultural legacy, has a low cost of living while the capital, Kathmandu, is a popular destination for foreigners and tourists. Although it has recently grown more developed, it still provides reasonably priced housing and dining options not forgetting that due to its affordable cost of living and fantastic hiking, mountaineering, and Hinduism and Buddhism cultural attractions, Nepal is especially well-liked by digital nomads and adventure seekers.
Libya 🇱🇾
Size: 1,759,540 Square Kilometres
Monthly Cost of Living: $422
Population: +7 Million
Libya is a North African nation with a rich cultural legacy and wide desert landscapes. With a monthly cost of about $422, the cost of living is still extremely inexpensive despite recent political unrest but it is a desirable choice for individuals on a tight budget because it provides reasonably priced accommodations and inexpensive meals with also Libya's rich history, which includes Roman monuments and Mediterranean beaches, making it an intriguing destination for people seeking to experience something different on a budget, even if it is crucial to confirm the security situation before visiting.
Bangladesh 🇧🇩
Size: 148,500 Square Kilometres
Monthly Cost of Living: $423
Population: +174 Million
Bangladesh is a South Asian nation with a high population density and an exceptionally low cost of living making it a great place for people looking for an inexpensive lifestyle because the average monthly living expenses are only $423. The capital, Dhaka, is a busy city, but for those who want to get away from the bustle, the coastline areas have more relaxed options with the country's rich history and culture making it an intriguing destination for foreigners to reside, and the food, especially street food, is extremely inexpensive not forgetting that it is also well-known for its expanding technology sector and textile industry, which provide great job prospects.
India 🇮🇳
Size: 3,287,263 Square Kilometres
Monthly Cost of Living: $441
Population: +1.4 Billion
The second-most populated nation in the world, India, is a great place to live affordably with India continuing to draw expats and low-budget tourists due to its unique culture, different landscapes, and affordable cost of living (around $441 per month). Modern conveniences and employment prospects can be found in cities like Delhi, Bengaluru, and Mumbai, while even more cheap living can be found in rural locations making it a great option for people who want to live on a strict budget without losing too much comfort because food, transportation, and housing costs are all significantly lower there than in many Western nations.
Tunisia 🇹🇳
Size: 163,610 Square Kilometres
Monthly Cost of Living: $452
Population: +12 Million
North Africa's Tunisia combines historical landmarks, Mediterranean beaches, and affordable living expenses whereby in Tunisia, the average monthly cost of living is approximately $452 with rent and other everyday costs being extremely reasonable for foreigners, whether they choose to live in Tunis, the capital, or in tiny coastal villages making it a desirable location for retirees and remote workers due to its affordability and advantageous location between Europe and Africa. In addition to having a rich cultural past, the nation provides a high standard of living at a significantly lower cost than in Europe.
Bhutan 🇧🇹
Size: 38,394 Square Kilometres
Monthly Cost of Living: $455
Population: +793 Thousand
Bhutan, a tiny but intriguing nation tucked away in the Himalayas, is well-known for emphasising Gross National Happiness (GNH) whereby the nation has grown in popularity among tourists and foreigners looking for a distinctive and relaxing way of life. With an average monthly cost of living of roughly $455, it is an affordable choice for people who like a slower pace of life. Bhutan's tiny size, breathtaking scenery, and emphasis on sustainability make it an appealing option for individuals seeking a serene and reasonably priced place to call home, even though it is not as cheap as some of the other nations on this list.
Algeria 🇩🇿
Size: 2,381,740 Square Kilometres
Monthly Cost of Living: $472
Population: +47 Million
Algeria, a country in North Africa, has a rich history, stunning scenery, and affordable living with the country offering a variety of experiences, from the Sahara desert to the Mediterranean sea making it one of the most cheap nations in Africa, with an average monthly cost of living of $472. While the rest of the country offers a more relaxed lifestyle, the city, Algiers, boasts a sophisticated infrastructure which is a desirable choice for anyone looking for a distinctive and reasonably cost area to live because housing, food, and transportation are all reasonably priced.
Vietnam 🇻🇳
Size: 331,210 Square Kilometres
Monthly Cost of Living: $500
Population: +101 Million
Vietnam's inexpensive cost of living and rich cultural legacy make it a favourite tourism and digital nomad destination. At $500 a month on average, it provides both high-quality experiences and reasonably priced living making it an excellent area to live on a budget, whether you choose to live in the countryside or in a busy city like Hanoi or Ho Chi Minh City not forgetting that accommodation, food, and transportation costs are extremely low, and the nation's rapidly expanding infrastructure and economy make it a desirable choice for both remote workers and expats.
Summary
The above 11 countries provide an amazing blend of affordable living expenses and a high standard of living in 2024 offering reasonably priced accommodation, meals, and transportation, so you can stretch your budget far enough while taking in new destinations and cultures, whether you are seeking for an adventure in Africa, Asia, or the Middle East. Retirees and digital nomads can live better lives without going over budget by thinking about these nations as possible migration locations.