Cheapest European Countries 2021

map placeholder

For those looking to relocate abroad, Europe is a popular choice. Europe as a whole has 50 countries and the European Union has 28. Europe is often associated with high costs of living, and just visiting, especially West Europe and the Nordic countries. This is not always the case, however, as some countries are very expensive while others are very affordable. Several are even more affordable than the United States.

Check In Price compiled a list of the cheapest European countries to live in, perfect for retirees and expats moving for work or adventure. Cost of living, healthcare, entertainment, and safety were all factors considered for this list, which includes not only the cheapest countries in Europe but the most balanced ones. This means that you’re not sacrificing the quality of life or standard of living just by moving to an inexpensive country.

Montenegro

Montenegro, considered to be one of the best countries to retire in the world, has an estimated monthly budget of just 700 Euros per person. This budget covers rent, healthcare, food, and entertainment. Montenegro is known for its beautiful landscapes and friendly people, and a vast countryside where real estate can be bargained. The cost of living can increase as you move closer to the sea, however.

The cons of Montenegro are the lack of infrastructure and lack of flights.

Bulgaria

Bulgaria is one of Europe’s hidden gems for both travelers and expats located in Eastern Europe. Bulgaria has both history-rich cities and beautiful landscapes, including beaches along the Black Sea in the summer and mountains for skiing in the winter. A person’s monthly budget for living in Bulgaria starts as low as $600. Transportation is incredibly cheap in Bulgaria with long-distance train tickets starting at $5 and dinner with a drink will cost less than $10.

Bulgaria is not a popular destination for migrants, so it is relatively easy to stay in the country legally if you are not an EU citizen. Bulgaria is the poorest EU member, however, and has work to do in its development of infrastructure, corruption, and standard of living.

Romania

Romania is another country with beautiful landscapes, colorful cities, and a very affordable lifestyle. The monthly’ budget for Romania starts at about 600 Euros if you want to live in the northern parts of the country. The cost of living is the most expensive in the country’s capital, Bucharest.

Dining out in Romania is very cheap, including lunch menus for $4 and hotels, hostels, and apartments starting at $7 per person for those looking to visit.

It is relatively easy to get a residence permit in Romania even if you are not a citizen of the EU. Romania’s cost of living can remain so inexpensive because, even though it is a part of the EU, it does not use the Euro. Those looking to relocate or visit Romania should be aware that its high levels of corruption.

Hungary

Hungary’s cost of living is on the higher end of this list at about 900 Euros per month up to 1,400 Euros per month to live in Budapest. Hungary is conveniently located in Central Europe, with access to the Adriatic Sea and other countries to explore, like Austria.

Hungary’s countryside is beautiful and incredibly affordable. Food and travel accommodations are relatively cheap as well. Unfortunately, unlike other European Union nations, Hungarian speak a non-Indo-European language, so it will be more difficult for expats to pick up an understanding of it.

Portugal

While more expensive than other countries on the list, Portugal is the cheapest country in Europe. At a monthly budget of about 1200 Euros, Portugal offers a warm climate, access to the ocean, and a high level of safety. Prices in Portugal are about one-half or even one-third of other Western European countries, as long as you’re not planning to settle in Lisbon.

Although Portugal is relatively cheap, it is gaining popularity in recent years, especially among retirees, so prices are expected to rise.

Czech Republic

Away from Prague, the countryside of the Czech Republic has both beautiful scenery and real estate bargains. The monthly budget for living in the Czech Republic is about 950 Euros, which is a little on the higher end of this list. Many people prefer to live in Prague, which will raise the cost of living as well.

The Czech Republic is located in Central Europe, allowing for easy access to other countries such as Austria and Germany. The standard of living in the Czech Republic is about the same as Germany but it costs about half. One can find meals as cheap as $3 to $5 and those looking to visit can pay around $15 for a night at a hostel.

Georgia

One of the less popular European destinations is Georgia, where the monthly budget is about 600 Euros. Aside from an inexpensive lifestyle, getting a residency permit in Georgia is relatively easy even if you are not an EU citizen. If you want to become a full-time resident of Georgia, it’s as easy as a very low investment and a company formation.

Georgia is relatively far from the rest of Europe, so you will not have easy access to other countries as you would if you were located more centrally. Luckily, inexpensive travel options are increasing operations in Georgia.

Cheapest European Countries 2021

Rank Country 2021 Population
China1,444,216,107
India1,393,409,038
United States332,915,073
Indonesia276,361,783
Pakistan225,199,937
Brazil213,993,437
Nigeria211,400,708
Bangladesh166,303,498
Russia145,912,025
Mexico130,262,216
Japan126,050,804
Ethiopia117,876,227
Philippines111,046,913
Egypt104,258,327
Vietnam98,168,833
Dr Congo92,377,993
Turkey85,042,738
Iran85,028,759
Germany83,900,473
Thailand69,950,850
United Kingdom68,207,116
France65,426,179
Tanzania61,498,437
Italy60,367,477
South Africa60,041,994
Kenya54,985,698
Myanmar54,806,012
South Korea51,305,186
Colombia51,265,844
Uganda47,123,531
Spain46,745,216
Argentina45,605,826
Sudan44,909,353
Algeria44,616,624
Ukraine43,466,819
Iraq41,179,350
Afghanistan39,835,428
Canada38,067,903
Poland37,797,005
Morocco37,344,795
Saudi Arabia35,340,683
Uzbekistan33,935,763
Angola33,933,610
Peru33,359,418
Malaysia32,776,194
Mozambique32,163,047
Ghana31,732,129
Yemen30,490,640
Nepal29,674,920
Venezuela28,704,954
Madagascar28,427,328
Cameroon27,224,265
Ivory Coast27,053,629
North Korea25,887,041
Australia25,788,215
Niger25,130,817
Taiwan23,855,010
Sri Lanka21,497,310
Burkina Faso21,497,096
Mali20,855,735
Malawi19,647,684
Chile19,212,361
Romania19,127,774
Kazakhstan18,994,962
Zambia18,920,651
Syria18,275,702
Guatemala18,249,860
Ecuador17,888,475
Senegal17,196,301
Netherlands17,173,099
Cambodia16,946,438
Chad16,914,985
Somalia16,359,504
Zimbabwe15,092,171
Guinea13,497,244
Rwanda13,276,513
Benin12,451,040
Burundi12,255,433
Tunisia11,935,766
Bolivia11,832,940
Belgium11,632,326
Haiti11,541,685
South Sudan11,381,378
Cuba11,317,505
Dominican Republic10,953,703
Czech Republic10,724,555
Greece10,370,744
Jordan10,269,021
Azerbaijan10,223,342
Portugal10,167,925
Sweden10,160,169
Honduras10,062,991
United Arab Emirates9,991,089
Tajikistan9,749,627
Hungary9,634,164
Belarus9,442,862
Papua New Guinea9,119,010
Austria9,043,070
Israel8,789,774
Switzerland8,715,494
Serbia8,697,550
Togo8,478,250
Sierra Leone8,141,343
Hong Kong7,552,810
Laos7,379,358
Paraguay7,219,638
Libya6,958,532
Bulgaria6,896,663
Lebanon6,769,146
Nicaragua6,702,385
Kyrgyzstan6,628,356
El Salvador6,518,499
Turkmenistan6,117,924
Singapore5,896,686
Denmark5,813,298
Republic Of The Congo5,657,013
Finland5,548,360
Norway5,465,630
Slovakia5,460,721
Oman5,223,375
Palestine5,222,748
Liberia5,180,203
Costa Rica5,139,052
Ireland4,982,907
Central African Republic4,919,981
New Zealand4,860,643
Mauritania4,775,119
Panama4,381,579
Kuwait4,328,550
Croatia4,081,651
Moldova4,024,019
Georgia3,979,765
Eritrea3,601,467
Uruguay3,485,151
Mongolia3,329,289
Bosnia And Herzegovina3,263,466
Jamaica2,973,463
Armenia2,968,127
Qatar2,930,528
Albania2,872,933
Puerto Rico2,828,255
Lithuania2,689,862
Namibia2,587,344
Gambia2,486,945
Botswana2,397,241
Gabon2,278,825
Lesotho2,159,079
North Macedonia2,082,658
Slovenia2,078,724
Guinea Bissau2,015,494
Latvia1,866,942
Bahrain1,748,296
Equatorial Guinea1,449,896
Trinidad And Tobago1,403,375
Timor Leste1,343,873
Estonia1,325,185
Mauritius1,273,433
Cyprus1,215,584
Eswatini1,172,362
Djibouti1,002,187
Fiji902,906
Reunion901,686
Comoros888,451
Guyana790,326
Bhutan779,898
Solomon Islands703,996
Macau658,394
Luxembourg634,814
Montenegro628,053
Western Sahara611,875
Suriname591,800
Cape Verde561,898
Maldives543,617
Malta442,784
Brunei441,532
Belize404,914
Guadeloupe400,020
Bahamas396,913
Martinique374,745
Iceland343,353
Vanuatu314,464
French Guiana306,448
New Caledonia288,218
Barbados287,711
French Polynesia282,530
Mayotte279,515
Sao Tome And Principe223,368
Samoa200,149
Saint Lucia184,400
Guam170,179
Curacao164,798
Kiribati121,392
Micronesia116,254
Grenada113,021
Saint Vincent And The Grenadines111,263
Aruba107,204
Tonga106,760
United States Virgin Islands104,226
Seychelles98,908
Antigua And Barbuda98,731
Isle Of Man85,410
Andorra77,355
Dominica72,167
Cayman Islands66,497
Bermuda62,090
Marshall Islands59,610
Northern Mariana Islands57,917
Greenland56,877
American Samoa55,100
Saint Kitts And Nevis53,544
Faroe Islands49,049
Sint Maarten43,412
Monaco39,511
Saint Martin39,234
Turks And Caicos Islands39,231
Liechtenstein38,250
San Marino34,017
Gibraltar33,698
British Virgin Islands30,421
Palau18,169
Cook Islands17,565
Anguilla15,117
Tuvalu11,931
Wallis And Futuna11,094
Nauru10,876
Saint Barthelemy9,907
Saint Pierre And Miquelon5,766
Montserrat4,977
Falkland Islands3,533
Niue1,619
Tokelau1,373
Vatican City800

Cheapest European Countries 2021