Cost plays a significant role in determining where to retire overseas. Who would want to spend their golden years fretting over their Social Security benefits and penny-pinching? According to International Living’s Annual Global Retirement Index, travel is fantastic since it enables you to select a location where the cost of living is affordable.
This list is objective. To collect confirmed, accurate costs for expenses such as food, rent, utilities, domestic help, eating out, gym membership, transportation and travel, as well as unanticipated costs of living abroad, we distributed detailed questionnaires to our correspondents around the world.
A inexpensive location may provide security and additional funds for leisure activities. Here is a selection of our most affordable refuges for expats.
Cambodia
Cambodia’s economy is among the fastest-growing in the world. Phnom Penh is home to skyscrapers, shopping malls, and fancy restaurants. It has altered a great deal since its deteriorating past. Fortunately, tourists may still find inexpensive beer, good weather, friendly inhabitants, and a thriving expat population in this city and around the country. Even though Phnom Penh is the most costly area to live in the country, IL Southeast Asia correspondent Wendy Justice says that you can still live comfortably for a fraction of what you would pay “back home.” Cambodia is more economical in the small, expat-friendly cities of Battambang, Siem Reap, and Kampot.
As with any large metropolitan area, Phnom Penh offers both economical and luxurious housing alternatives. One-bedroom apartments in the heart of Washington, DC, near to bars, restaurants, and the greatest shopping, are available for less than $500 per month. Even the fanciest apartments are available for less than $1,500 per month.
“A person can spend between $800 and $1,000 per month in Phnom Penh by dining at inexpensive local eateries, making meals at home, and indulging in few luxuries. Meals at local restaurants and pubs are less than $5, and Angkor beers are only $1. Wendy estimates that Phnom Penh’s cost of living is 10–25% greater than other cities.
Rent is more affordable in smaller cities. Battambang, the second largest and most artistic city in Cambodia, is situated north of the Thai border. The average cost of a home or apartment with one bedroom is $225. The downtown area features fascinating architecture, wonderful restaurants, and art galleries. Explore the surrounding Khmer ruins. Best of all, Battambang is a small, flat, and pedestrian- and bicycle-friendly city. Tuktuks (motorcycle-powered rickshaws) are always available for travels inside the city, and longer trips are reasonable if you haggle.
Healthcare has improved at the first hospital in Cambodia to achieve JCI accreditation. A comprehensive checkup at the Royal Phnom Penh Hospital, which is a member of the massive Bangkok Hospital Consortium, costs $115 and includes a physical examination, an electrocardiogram, and blood testing. Private clinics charge $5 per consultation, compared to $25 charged by English-speaking physicians.
The flight duration between Cambodia and the United States is at least 18 hours and is reasonably priced. Tickets from Phnom Penh to San Francisco cost approximately $600 one-way and $1,041 round-trip. The cost of travel between coastal cities in the United States is comparable. Phnom Penh and Siem Reap both possess international airports. More destinations are served by Phnom Penh’s primary airport. There are no direct flights to the United States or Canada, so you must transfer.
The U.S. dollar is the most extensively utilised of the two official currencies in Cambodia. With the exception of marketplaces and street food vendors, the majority of ATMs provide them, and the majority of things cost cash. For most transactions, utilise dollars and receive Cambodian riel in change.
Bolivia
Bolivia is surprisingly popular with expats. The nation rarely appears in the news. The majority of expat retirees do not consider it. For residents, there are numerous advantages.
In South America, between Peru, Argentina, Brazil, Chile, and Paraguay, there is a safe refuge. Andean native culture rich. Cities combine antique aspects with modern conveniences. Most expats reside in moderate climates.
Rentability is appealing to seniors. Bolivia has one of the lowest cost-of-living rates among the countries analysed by International Living. Rents for nice apartments in desirable neighbourhoods close to everything in the city begin at $200; a daily menu of soup, an entrée, fruit juice, dessert, and coffee costs less than $2 at neighbourhood eateries; a meal for two at a high-end restaurant with wine costs approximately $30; and a latte or cappuccino at a hip café costs 75 cents.
Other reasonable daily expenses include a $1.50 taxi ride within the city (less for shorter trips), a $45 cross-country flight, a $15 primary care doctor visit, a $30 specialist visit, medications at 30% of U.S. prices, a $100 monthly healthcare plan at a private facility, a $20 grocery bill for two, a $150 gardener and maid, and $50 for all monthly utilities.
The cost of housing and rent is reasonable. A three-bedroom, two-bathroom apartment in one of Cochabamba’s more desirable neighbourhoods, close to shops, parks, and dining places, costs $115,000. Two-bedroom flats in Tarija cost $85,000.
Considering these prices, it is inexpensive to live in Bolivia. How can the pricing be so low? Multiple elements play a role.
Bolivia rarely appears in the news. Despite its unique features, the majority of travellers are unaware of this destination. Investigate the Andes. You can investigate the Amazon jungle and its inhabitants. Guests would also find moderate prices for meals, domestic transport, housing, and tours.
Expats and visitors raise prices in popular destinations. Bolivia is special.
Fred Staff has spent more than three decades in Bolivia. He appreciates the surroundings, standard of living, and laid-back lifestyle.
Fred, a resident of Cochabamba, a 700,000-person metropolis at the foot of the Andes, continues, “The cost of living in the United States baffles me.” The monthly rent is included in the $600 price.
Fred and his wife frequent the largest outdoor market in Latin America, La Cancha. Outstanding produce is available. Twenty oranges for two dollars. And we frequently eat out, says Fred. A decent dinner at a neighbouring restaurant costs between $2 and $3.
Less than $30 a month is spent on electricity by Fred. Monthly gas expenditures for water heaters and stoves are $3.
Kelly Barton resides in Cochabamba. Her monthly grocery bill is $20. Although she has a home, she observes that the better unfurnished apartments in town cost $500 per month to rent. There are houses and flats available for $200 to $400.
Marcia Bohannon hails from Tarjeia. She relocated to Bolivia in order to walk at high altitudes, but the cheaper prices are a bonus. She spends $150 a month for a gardener and two mornings of housekeeping services. In a private clinic, an EKG, mammogram, blood test, and urinalysis cost $200. Marcia stated that nice dinners with her friends seldom cost more than $20.
Bali, Indonesia
Bali, the “Island of the Gods,” is among the most beautiful destinations on Earth. This Delaware-sized paradise is home to dozens of magnificent beaches with white and black sand, waterfalls, volcanoes, terraced rice fields, hidden gardens, and old jungles.
Bali, a long-standing favourite worldwide vacation destination, is cheap for all tourists. Warungs offering nasi campur for $1.50, a mixed rice dish with meat and vegetables, coexist with five-star restaurants. On the shore, foreigners are equally likely to reside in country cottages or mansions. Here, you have the option of living lavishly or modestly.
“Several couples I’ve met in the tranquil seaside communities of Sanur and Canggu report living comfortably on less than $1,500 per month, which includes rent for a two-bedroom home, all utilities, regular eating out, and the purchase of some imported foods. Wendy Justice, IL Southeast Asia Correspondent, adds that Seminyak and Legian costs are higher than American pricing.
In desirable districts of well-known southern beach cities, three-bedroom flats range from $550 to $1,500 per month, while two-bedroom villas with modest yards and private pools in Sanur cost between $450 and $800 per month. Whether for six months or twenty years, most leases need a security deposit.
Wendy considers this as beneficial. The rent will not increase and you will not be responsible for payment. However, the initial investment is expensive and requires commitment. Monthly rental agreements with hotels, guesthouses, or houses are straightforward alternatives to Airbnb.
Ubud, a hillside artist enclave, offers a great quality of life for much less money than resorts in the south. One-bedroom flats in the city begin at less than $300 per month, and there is a vast selection of eateries offering meals for $3 or less.
The laid-back towns of Amed on the northeast coast, Candi Dasa on the eastern coast, and Lovina in the far north of the island are other places to live in Bali. Lovina is one of the best sites to witness sunrises and dolphins playing offshore. These villages offer a higher standard of living at a lower cost than resort destinations in the south.
Wendy was told by a Candi Dasa couple that they “live like queens and kings” on $1,200 per month. Due to its small population and surprisingly strong expat culture, Candi Dasa is a suitable option for those who choose to live away from the more developed regions of the island yet still have an active social life.
Denpasar is the principal airport serving Bali. The bulk of residents live within one hour of the airport. From San Francisco to Bali, one-way tickets cost $475 and $587, respectively. Tickets to the west coast cost $800 round-trip. A stopover is required in Taipei, Istanbul, Tokyo, Singapore, or another city on flights from Bali to the United States.
The majority of expats in Bali own automobiles or motorcycles, however those who do not wish to handle the regularly clogged roads can hire drivers for $25 to $30 per day. Bali’s tiny size makes travel affordable. Some villages have bemos, which are small cars transformed into minibuses that offer local transportation for one dollar or less.
Visit Bali if you wish to live on a tropical island with a wonderful climate, friendly inhabitants, a thriving expat community, and an affordable way of life. Since over a century ago, Western tourists have been drawn to its sun-drenched coastlines.
Winner: Vietnam
Vietnam is home to welcoming locals, magnificent scenery, a unique culture, and a low-cost, high-quality way of life. Expat couples can have lots of travel and extras on a budget that is unlikely to exceed $1,500 per month while living in modern, cosy homes and flats in good neighbourhoods, dining out frequently, and employing a housekeeper, among other activities.
Vietnam’s rental costs reduced by 20% to 50% in the past year. Elegant one-bedroom homes in the popular expat destinations of Hoi An and Nha Trang are currently available for $300 a month. Now, rents in Hanoi and Ho Chi Minh City are 30% cheaper than they were previously.
According to IL Southeast Asia correspondent Wendy Justice, metropolitan rents in Vietnam tend to fall often. “My three-bedroom, fully-furnished apartment in Hanoi, which includes internet, tap water, cable television, 24-hour security, and twice-weekly maid service, plummeted from $750 to $600.
“While other utilities are substantially less expensive than in the United States, power costs are comparable. Vinaphone’s $3 one-month prepaid cellphone plan includes 3 GB of internet in addition to all the calls and texts you’ll need. Fiber-optic internet costs $12 per month, while cable TV with a strong selection of English-language channels begins at $7 per month. Internet, cable television, and cell phone plans start at $10.50 per month.
Cable television and high-speed internet are frequently included in rental units, so budgeting for these fees is not typical. Commonly, utilities are not included in house rentals, but their exclusion does not greatly increase the overall cost.
Numerous entry-level positions in this nation with a middle-income pay less than $200 per month, which makes housekeeping, gardening, and other services reasonable. The Tet (Lunar New Year) bonus is valued by housekeepers, who are paid between $2.50 and $3 per hour.
Unless you want a large quantity of foreign foods, you will pay substantially less for the majority of groceries in Vietnam than in your native nation, Wendy says. At the traditional market in my neighbourhood, I can purchase freshly harvested meat and produce for $2 or less each bag. Every city has a large supermarket that offers one-stop shopping at a slight premium.
Vietnamese cuisine attracts tourists due to its natural and fresh ingredients. A large bowl of the wildly popular and filling Vietnamese ph (beef or chicken soup in a richly complex clear bone marrow broth, seasoned with fresh herbs, chilies, and sprouts) or a bánh m (a sandwich with meat, eggs, or paté, served with cucumber, carrots, and fresh herbs on a French-style baguette) will cost you approximately $1.50.
Even a lunch for two with drinks at an upscale Vietnamese restaurant costs less than $25.
Although gas prices in Vietnam are equivalent to those in the United States, the majority of people, including foreigners, drive compact, fuel-efficient motor scooters, making car ownership more affordable. The ticket for a bus is $0.31, but there are few buses in rural areas. Taxis with metres are more expensive than Grab Taxi and other ride-hailing services with set fares. Each Grab Bike mile costs approximately fifty cents.
Vietnam has affordable entertainment options. For $4, you may see the newest Hollywood picture in a movie theatre, or for $2 or $3, you can visit one of the country’s several world-class museums. The majority of fitness centres offer six- or twelve-month memberships for $25 per month.
An additional affordable luxury is a flight on a high-quality airline. Ho Chi Minh City to Hanoi one-way tickets are $33, $52 from Singapore, and $439 from San Francisco. Bamboo Airways, a new Vietnamese airline, launches direct service to Los Angeles, San Francisco, and Seattle. Nonstop flights from Vietnam to the United States should shorten travel time by several hours, although pricing have not yet been disclosed.
Vietnam offers reasonably priced medical treatment. My English-speaking dentist charges $15 for a check-up, X-rays, and cleaning. In international hospitals, same-day specialist visits cost less than $20 and include a translator. “Most pharmaceuticals that require a prescription in the United States can be purchased over-the-counter in Vietnam for approximately 10 percent of the price in the United States,” Wendy says.
Vietnam is ideal for budget travellers who desire a good lifestyle without breaking the bank.