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Cheapest Countries to Live in 2024
Snapshot
A country's cost of living is determined by comparing local prices of basic goods and services to those in a baseline location, such as New York City; however, methodologies vary among organizations.
Three countries that appear on all three different organizations’ lists of the least expensive countries to live in are Egypt, Nepal, and India.
The cost of living is the amount of money needed to sustain a certain comfort level in a location. The cost of living covers such basics as housing, groceries, taxes, and healthcare. Some countries have a very high cost of living, particularly in areas surrounding large cities.
For example, in the United States, cities like New York and San Francisco have a very high cost of living, while such areas as rural Mississippi, Kansas, or Oklahoma may be notably more affordable. Some nations have a very low cost of living, which can make them attractive destinations for expats, retirees, and others interested in reducing their expenses.
As a rule, cost of living computations start by recording the cost of various needs, from rent/mortgage and health care to a loaf of bread, in a given city. Those costs are then compared to the price of the same necessities in a baseline location, such as New York City, U.S.A. or Prague in the Czech Republic. Finally, the numbers for each region in a given country are averaged to enable nation-to-nation comparisons.
Every source adds its own spin on the math, which results in slightly different lists. The table below presents a full list of the countries and their scores. To explore the opposite end of the spectrum, take a look at the most expensive countries to live in.
Top 10 Cheapest Countries to Live In (New York City, USA = 100%) - Numbeo
Country | CoL plus Rent (Numbeo) |
|---|---|
| Pakistan | 10.70 |
| Egypt | 13.10 |
| India | 14.60 |
| Libya | 14.90 |
| Bangladesh | 15.10 |
| Syria | 15.20 |
| Nepal | 15.30 |
| Tunisia | 16.70 |
| Algeria | 16.90 |
| Somalia | 17.60 |
Top 10 Cheapest Countries to Live In (per month US$) - Living Cost
Country | Monthly Cost of Living |
|---|---|
| Afghanistan | $354 |
| Pakistan | $370 |
| India | $423 |
| Tunisia | $424 |
| Sri Lanka | $428 |
| Kyrgyzstan | $430 |
| Algeria | $431 |
| Syria | $435 |
| Nepal | $439 |
| Turkey | $447 |
Source
The data and analysis methodologies used by the three organizations—Living Cost, Numbeo, and Global Economy—vary by year collected, factors analyzed, calculation equation used, and countries included.