Cheapest European Countries 2021

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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
1China1,444,216,107
2India1,393,409,038
3United States332,915,073
4Indonesia276,361,783
5Pakistan225,199,937
6Brazil213,993,437
7Nigeria211,400,708
8Bangladesh166,303,498
9Russia145,912,025
10Mexico130,262,216
11Japan126,050,804
12Ethiopia117,876,227
13Philippines111,046,913
14Egypt104,258,327
15Vietnam98,168,833
16Dr Congo92,377,993
17Turkey85,042,738
18Iran85,028,759
19Germany83,900,473
20Thailand69,950,850
21United Kingdom68,207,116
22France65,426,179
23Tanzania61,498,437
24Italy60,367,477
25South Africa60,041,994
26Kenya54,985,698
27Myanmar54,806,012
28South Korea51,305,186
29Colombia51,265,844
30Uganda47,123,531
31Spain46,745,216
32Argentina45,605,826
33Sudan44,909,353
34Algeria44,616,624
35Ukraine43,466,819
36Iraq41,179,350
37Afghanistan39,835,428
38Canada38,067,903
39Poland37,797,005
40Morocco37,344,795
41Saudi Arabia35,340,683
42Uzbekistan33,935,763
43Angola33,933,610
44Peru33,359,418
45Malaysia32,776,194
46Mozambique32,163,047
47Ghana31,732,129
48Yemen30,490,640
49Nepal29,674,920
50Venezuela28,704,954
51Madagascar28,427,328
52Cameroon27,224,265
53Ivory Coast27,053,629
54North Korea25,887,041
55Australia25,788,215
56Niger25,130,817
57Taiwan23,855,010
58Sri Lanka21,497,310
59Burkina Faso21,497,096
60Mali20,855,735
61Malawi19,647,684
62Chile19,212,361
63Romania19,127,774
64Kazakhstan18,994,962
65Zambia18,920,651
66Syria18,275,702
67Guatemala18,249,860
68Ecuador17,888,475
69Senegal17,196,301
70Netherlands17,173,099
71Cambodia16,946,438
72Chad16,914,985
73Somalia16,359,504
74Zimbabwe15,092,171
75Guinea13,497,244
76Rwanda13,276,513
77Benin12,451,040
78Burundi12,255,433
79Tunisia11,935,766
80Bolivia11,832,940
81Belgium11,632,326
82Haiti11,541,685
83South Sudan11,381,378
84Cuba11,317,505
85Dominican Republic10,953,703
86Czech Republic10,724,555
87Greece10,370,744
88Jordan10,269,021
89Azerbaijan10,223,342
90Portugal10,167,925
91Sweden10,160,169
92Honduras10,062,991
93United Arab Emirates9,991,089
94Tajikistan9,749,627
95Hungary9,634,164
96Belarus9,442,862
97Papua New Guinea9,119,010
98Austria9,043,070
99Israel8,789,774
100Switzerland8,715,494
101Serbia8,697,550
102Togo8,478,250
103Sierra Leone8,141,343
104Hong Kong7,552,810
105Laos7,379,358
106Paraguay7,219,638
107Libya6,958,532
108Bulgaria6,896,663
109Lebanon6,769,146
110Nicaragua6,702,385
111Kyrgyzstan6,628,356
112El Salvador6,518,499
113Turkmenistan6,117,924
114Singapore5,896,686
115Denmark5,813,298
116Republic Of The Congo5,657,013
117Finland5,548,360
118Norway5,465,630
119Slovakia5,460,721
120Oman5,223,375
121Palestine5,222,748
122Liberia5,180,203
123Costa Rica5,139,052
124Ireland4,982,907
125Central African Republic4,919,981
126New Zealand4,860,643
127Mauritania4,775,119
128Panama4,381,579
129Kuwait4,328,550
130Croatia4,081,651
131Moldova4,024,019
132Georgia3,979,765
133Eritrea3,601,467
134Uruguay3,485,151
135Mongolia3,329,289
136Bosnia And Herzegovina3,263,466
137Jamaica2,973,463
138Armenia2,968,127
139Qatar2,930,528
140Albania2,872,933
141Puerto Rico2,828,255
142Lithuania2,689,862
143Namibia2,587,344
144Gambia2,486,945
145Botswana2,397,241
146Gabon2,278,825
147Lesotho2,159,079
148North Macedonia2,082,658
149Slovenia2,078,724
150Guinea Bissau2,015,494
151Latvia1,866,942
152Bahrain1,748,296
153Equatorial Guinea1,449,896
154Trinidad And Tobago1,403,375
155Timor Leste1,343,873
156Estonia1,325,185
157Mauritius1,273,433
158Cyprus1,215,584
159Eswatini1,172,362
160Djibouti1,002,187
161Fiji902,906
162Reunion901,686
163Comoros888,451
164Guyana790,326
165Bhutan779,898
166Solomon Islands703,996
167Macau658,394
168Luxembourg634,814
169Montenegro628,053
170Western Sahara611,875
171Suriname591,800
172Cape Verde561,898
173Maldives543,617
174Malta442,784
175Brunei441,532
176Belize404,914
177Guadeloupe400,020
178Bahamas396,913
179Martinique374,745
180Iceland343,353
181Vanuatu314,464
182French Guiana306,448
183New Caledonia288,218
184Barbados287,711
185French Polynesia282,530
186Mayotte279,515
187Sao Tome And Principe223,368
188Samoa200,149
189Saint Lucia184,400
190Guam170,179
191Curacao164,798
192Kiribati121,392
193Micronesia116,254
194Grenada113,021
195Saint Vincent And The Grenadines111,263
196Aruba107,204
197Tonga106,760
198United States Virgin Islands104,226
199Seychelles98,908
200Antigua And Barbuda98,731
201Isle Of Man85,410
202Andorra77,355
203Dominica72,167
204Cayman Islands66,497
205Bermuda62,090
206Marshall Islands59,610
207Northern Mariana Islands57,917
208Greenland56,877
209American Samoa55,100
210Saint Kitts And Nevis53,544
211Faroe Islands49,049
212Sint Maarten43,412
213Monaco39,511
214Saint Martin39,234
215Turks And Caicos Islands39,231
216Liechtenstein38,250
217San Marino34,017
218Gibraltar33,698
219British Virgin Islands30,421
220Palau18,169
221Cook Islands17,565
222Anguilla15,117
223Tuvalu11,931
224Wallis And Futuna11,094
225Nauru10,876
226Saint Barthelemy9,907
227Saint Pierre And Miquelon5,766
228Montserrat4,977
229Falkland Islands3,533
230Niue1,619
231Tokelau1,373
232Vatican City800

Cheapest European Countries 2021