Italy is not a country with a low cost of living, on the contrary: between mortgages or rent, cars, bills and various expenses, also due to the economic crisis, it is often not easy to live in peace, indulging in whims and great trips. There are countries where, on the other hand, the cost of living is much lower and which can represent an excellent alternative for a future transfer!
But where it is cheap to live in the world
Here are the top 10 nations with the lowest cost of living according to data collected by the international site Numbeo.
Ranking of countries with lowest cost of living
Country Minimum monthly budget Nepal € 390.00
Tunisia € 480.00
Turkey € 520.00
Colombia € 560.00
North Macedonia € 560.00
Sri Lanka € 560.00
Paraguay € 615.00
Moldova € 650.00
Goergia € 650.00
Belarus € 660.00
Italian situation : currently, taking into account the classification criteria of Numbeo, the minimum average monthly budget for living a quiet life in Italy and € 1,337.00.
Position 10 – Belarus: € 660.00
Belarus, located in Central Eastern Europe, is a country open to expatriation . This is due to many factors: it is in fact a growing country, with a very low cost of living and a large supply of work! The main sector in which to look for work is tourism, but many language teachers are also in demand.
Also, the capital Minskit hosts more and more Italians looking for a new life and a second chance. You can find numerous groups of Italians residing in Minsk, especially on social channels such as Facebook. The city also offers many attractions such as museums, numerous activities to do and also a lively and eventful life.
Obviously, moving to Belarus the first obstacle is that of the language : the languages ​​mainly spoken are Belarusian and Russian, English is widespread mainly in the capital, the best place to move. The currency used is the Belarusian ruble (€ 1.00 = BYN 2.90).
Let’s see in detail some costs of living in Belarus:
- Monthly rental apartment (3 bedrooms) in the city center: € 519.57
- Average Net Monthly Income (after Taxes): € 335.79
- Purchase price of an apartment (per m2 in the city center): € 1,408.90
- Monthly bills (electricity, heating, air conditioning, water, garbage) for an 85m2 apartment: € 47.73
- Meal in an inexpensive restaurant: € 6.85
- Meal for 2 in Medium Restaurant (Three Courses): € 23.98
Current situation : Belarus is located in a warm territory, close to Russia and Ukraine. Given the particular and current moment of tension in this area, we strongly recommend that you consult the official website of the Farnesina before traveling or moving.
Position 9 – Georgia: € 650.00
Georgia is a country on the border between East and West and, for many centuries, given its position it has been a land of continuous conflicts. It has recently found a balance and today it is increasingly open to hosting expats from all over the world . This is also thanks to its current political condition: since 1918 it has become an Independent Democratic Republic.
But, above all, given its new free economy, Georgia has become an area that attracts mainly investors thanks to its tax and legislative advantages ! It is a destination that, due to the low cost of living, is also chosen by many university students for Erasmus. Tbilisi, its capital, is in fact an economic destination, with various activities and a lively nightlife and it is here that mainly Italians in Georgia live .
While on the one hand the country is experiencing strong economic development, on the other hand, differences need to be addressed: the official language and Georgian, also spread Russian and Armenian, English mainly in the capital but many locals do not speak it. The official currency is the Georgian lari (€ 1.00 = 3.30 GEL).
Let’s see in detail some costs of living in Georgia:
- Monthly rental apartment (3 bedrooms) in the city center: € 500.20
- Average Net Monthly Income (net of taxes): € 345.04
- Purchase price of an apartment (per m2 in the city center): € 1,025.51
- Monthly bills (electricity, heating, air conditioning, water, garbage) for an 85m2 apartment: € 59.19
- Meal in an inexpensive restaurant: € 5.97
- Meal for 2 in Medium Restaurant (Three Courses): € 20.91
Position 8 – Moldova: € 650.00
Moldova is a small country wedged between Romania and Ukraine, a former Soviet republic and one of the poorest countries in the world: this makes it one of the countries where it costs less to live. In reality it is not yet a very popular destination among expats , but over the years it is slowly becoming known, especially thanks to the opportunities it offers.
Moldova has competitive wages, a low cost of living and, above all, a really simple and straightforward taxation system: 7% of personal income taxes up to € 1,500.00, over the percentage rises to 18%. The best solution for an Italian who wants to move to Moldova and choose his capital, Chisinau, and not go out into the countryside. Here, in fact, the possibilities are slightly higher and, again in the capital, the majority of Italians are concentrated.
The official language is Moldovan , very similar to the Romanian language. Due to the backwardness of the country, English is not very widespread so you will necessarily have to study the local language to establish yourself at best. The official currency is the Moldovan leu (€ 1.00 = 20.20 MDL).
Let’s see in detail some costs of living in Moldova:
- Monthly rental apartment (3 bedrooms) in the city center: € 437.46
- Average Net Monthly Income (after Taxes): € 362.23
- Purchase price of an apartment (per m2 in the city center): € 880.08
- Monthly bills (electricity, heating, air conditioning, water, garbage) for an 85m2 apartment: € 108.80
- Meal in an inexpensive restaurant: € 4.92
- Meal for 2 in Medium Restaurant (Three Courses): € 24.58
Position 7 – Paraguay: € 615.00
Paraguay is the smallest state in Latin America and is a real paradise for expats , so much so that more and more people, including Italians, decide to move here: low cost of living, millenary culture, lush landscapes, relaxed life and sunshine all year round (beware of humidity, you have to get used to it)!
Paraguay is also very open to foreigners , especially Italians. Most people choose to move to Asuncion in Paraguay, the country’s capital, where there are various job opportunities. Moreover, despite being the capital, the costs are very low. Furthermore, in the country there is a territorial taxation: residents are taxed only on income from local sources, making it a great destination to invest and buy!
As for the language, the official languages ​​are Guarani and Spanish (spoken by 87% of the population), the latter not too difficult to learn for an Italian and this is already a big step forward! The official currency is the Paraguayan Guarani (€ 1.00 = PYG 7,914.10).
Let’s see in detail some costs of living in Paraguay:
- Monthly rental apartment (3 bedrooms) in the city center: € 556.62
- Average Net Monthly Income (after Taxes): € 280.49
- Purchase price of an apartment (per m2 in the city center): € 1,186.55
- Monthly bills (electricity, heating, air conditioning, water, garbage) for an 85m2 apartment: € 45.25
- Meal in an inexpensive restaurant: € 3.77
- Meal for 2 in Medium Restaurant (Three Courses): € 18.85
Position 6 – Sri Lanka: € 560.00
If your dream is to move to Asia, one of the countries with the lowest cost of living is certainly Sri Lanka. It is an island in the Indian Ocean, south east of India, characterized by lush vegetation and wonderful beaches. In addition, the lifestyle is cheap and relaxed , the people are warm and very friendly, there is a strong spirituality everywhere and, finally, it is a mainly safe country!
The starting point for getting around Sri Lanka is certainly its capital, Colombo. Unfortunately, Sri Lanka presents few job opportunities, the best solution is to arrive here having already a remote job, being a digital nomad or working for a large multinational. After this difficult step, Sri Lanka is certainly one of the best Asian countries to move to.
As for the language, the official languages ​​are Sinhala and Tamil, but English is widely spoken throughout the country, so you won’t have any problems communicating. The official currency and the Sinhalese rupee (€ 1.00 = LKR 230.00)
Let’s see in detail some costs of living in Sri Lanka:
- Monthly rental apartment (3 bedrooms) in the city center: € 534.84
- Average Net Monthly Income (after Taxes): € 205.46
- Purchase price of an apartment (per m2 in the city center): € 2,571.76
- Monthly bills (electricity, heating, air conditioning, water, garbage) for an 85m2 apartment: € 42.81
- Meal in an inexpensive restaurant: € 1.30
- Meal for 2 in Medium Restaurant (Three Courses): € 12.95
The ideal country for digital nomads : given the difficulty in finding work with a good salary, Sri Lanka is often chosen above all by young digital nomads, i.e. those who work remotely from all over the world. This is because here it is possible to have a slow and peaceful lifestyle, far away from the hectic one of the West, enjoying the sea and nature.
Position 5 – North Macedonia: € 560.00
Let’s go back to Europe again, this time in a country not far from Italy , also ideal for those who don’t want to go too far from home: we are talking about North Macedonia. Located between Greece, Bulgaria and Albania and in the past part of Yugoslavia, today it is a country in continuous growth, which presents excellent prospects and possibilities.
With its independence it has in fact become one of the main investment centers , above all thanks to its generous and easy to understand tax policy: currently, you can take advantage of a tax on personal income and business profits that varies around 10 %, while the VAT is 18% (against the Italian one at 22%). The cost of living is really low and the main area where expats, including Italians, move to is the capital Skopje.
The official language is Macedonian , English is widespread mainly in the capital and in the most important cities, but it is not understood and spoken by the entire population. The official currency is the Macedonian dinar (€ 1.00 = MKD 61.50).
Let’s see in detail some costs of living in North Macedonia:
- Monthly rental apartment (3 bedrooms) in the city center: € 294.54
- Average Net Monthly Income (after Taxes): € 368.27
- Purchase price of an apartment (per m2 in the city center): € 1,060.24
- Monthly bills (electricity, heating, air conditioning, water, garbage) for an 85m2 apartment: € 100.32
- Meal in an inexpensive restaurant: € 3.25
- Meal for 2 in Medium Restaurant (Three Courses): € 16.25
Membership of the European Union : became independent from Yugoslavia in 1991, one of the main objectives of the Macedonian government is to become part of the European Union. The application for membership was submitted in 2004 and negotiations are still ongoing. With the possible entry of the country into the EU, some fiscal and economic characteristics currently present will certainly change.
Position 4 – Colombia: € 560.00
If your idea is to move to South America, in addition to Paraguay, another country to choose, with a very low cost of living , is Colombia. This destination has a lot to offer: landscapes ranging from the Caribbean Sea to the Amazon rainforest, a friendly population and is among the happiest countries in the world.
Let’s mainly dispel a myth: Colombia is not as dangerous as everyone believes . As in any foreign country it is important to settle in, understand which are the least recommended and the safest areas, but it is an excellent solution to start a new life. It is also a destination chosen by many retirees : with € 800.00 per month you can live almost a life of luxury, moreover the real estate market presents many opportunities. As for Sri Lanka, it is also a perfect destination for digital nomads! The best solution is to stay in the best districts of the main cities, such as the capital Bogota.
Language will not be a major obstacle: Spanish is spoken here, the official language. Finally, the currency used and the Colombian peso (€ 1.00 = COP 4,470.50).
Let’s see in detail some costs of living in Colombia:
- Monthly rental apartment (3 bedrooms) in the city center: € 402.41
- Average Net Monthly Income (after Taxes): € 274.30
- Purchase price of an apartment (per m2 in the city center): € 1,006.41
- Monthly bills (electricity, heating, air conditioning, water, garbage) for an 85m2 apartment: € 59.78
- Meal in an inexpensive restaurant: € 2.67
- Meal for 2 in Medium Restaurant (Three Courses): € 15.55
Security in Colombia : Colombia is currently a mainly safe country. Obviously, common sense rules apply and not to go to conflict zones or to solitude in places like the Amazon rainforest. For any doubts or updates, consult the official website of the Farnesina.
Position 3 – Turkey: € 520.00
We enter the top 3 of the least expensive countries, always taking into account the countries in which it is safe to live! Between East and West, Turkey is one of the countries with the lowest cost of living . Millennial culture, completely different landscapes, large cities and small villages between sea and mountains, Turkey has a lot to offer to those who choose it.
In fact, one of its strong points, which places it at this point of the ranking, is that its rental costs are among the lowest in the world . At the same time, the cost of bills and expenses is also kept very low. For this reason, it is a destination also chosen by many Italians, ready to change their lives but without straying too far from home. One of the most chosen cities by Italians is certainly Istanbul, with its old-time atmosphere, large markets and many beauties. Surely, the best solution is to find a job for an Italian company located here.
To get used to it and be accepted above all in the world of work, the ideal would be to learn Turkish (except if you work for an Italian company). English is however widespread and spoken in large cities. The official currency is the Turkish lira (€ 1.00 = 15.35 TL).
Let’s see in detail some costs of living in Turkey:
- Monthly rental apartment (3 bedrooms) in the city center: € 367.35
- Average Net Monthly Income (net of Taxes): € 325.19
- Purchase price of an apartment (per m2 in the city center): € 818.68
- Monthly bills (electricity, heating, air conditioning, water, garbage) for an 85m2 apartment: € 53.17
- Meal in an inexpensive restaurant: € 3.25
- Meal for 2 in Medium Restaurant (Three Courses): € 13.41
Current political situation : in recent years in Turkey there is an uncertain political situation, with continuous diplomatic clashes with Europe and the United States. The situation is in any case currently under control, but it is always good to inquire and keep up to date on the official website of the Farnesina.
Position 2 – Tunisia: € 480.00
In second place we find Tunisia, a country in North Africa really close to Italy : just think that the Sicilian island of Pantelleria is closer to the Tunisian coasts than to the Italian ones. Tunisia has a thousand-year history and hosts a large community of expatriates , located in the northern part of the country and along the coast.
The country, in fact, is chosen above all by Italian pensioners: a large community is located in Hammamet, a coastal town about 65 km from Tunisia, the country’s capital. If you want to move first to work, the best solution is to stay in the capital, but the fact remains that Tunisia is more of a country for retirees. Here you can enjoy life even with a low pension, relax by the sea and enjoy the warm temperatures all year round!
The official language is Arabic , but French is very widespread. In some seaside resorts, as in the case of Hammamet, you can even find someone who speaks Italian! The official currency is the Tunisian dinar (€ 1.00 = 3.25 TND).
Let’s see in detail some costs of living in Tunisia:
- Monthly rental apartment (3 bedrooms) in the city center: € 269.70
- Average Net Monthly Income (after Taxes): € 253.39
- Purchase price of an apartment (per m2 in the city center): € 690.01
- Monthly bills (electricity, heating, air conditioning, water, garbage) for an 85m2 apartment: € 35.63
- Meal in an inexpensive restaurant: € 1.85
- Meal for 2 in Medium Restaurant (Three Courses): € 15.39
Position 1 – Nepal: € 390.00
Finally, the country where it costs to live the least , always taking into account the safety factor, is Nepal, located in South Asia, between India and Tibet.
With a strong millenary culture and deep-rooted traditions, Nepal is primarily a country for the more adventurous expats . Like Sri Lanka, it is in fact ideal for digital nomads who want to experience a period of their life among wonderful temples and adventurous excursions. Recently, however, the Nepalese government is implementing a series of measures and facilities to attract foreign investors . The economic and life center of the country and the capital Kathmandu.
Before the transfer, however, it is necessary to keep in mind some important obstacles : the water is not drinkable, the pollution in the city is unfortunately high and, at times, even the capital can remain without electricity. From the other point of view, however, the cost of living is very low . Finally, the official language is Nepali and the currency is the Nepali rupee (€ 1.00 = 136.70 NPR).
Let’s see in detail some costs of living in Nepal:
- Monthly rental apartment (3 bedrooms) in the city center: € 222.01
- Average Net Monthly Income (after Taxes): € 200.17
- Purchase price of an apartment (per m2 in the city center): € 1,238.47
- Monthly bills (electricity, heating, air conditioning, water, garbage) for an 85m2 apartment: € 24.38
- Meal in an inexpensive restaurant: € 1.83
- Meal for 2 in Medium Restaurant (Three Courses): € 12.83
Living conditions : Nepal is a country where you need to know how to adapt. Life is very simple, forget the luxuries we are used to in Italy and Europe. In addition to non-potable water and pollution in cities, health services are also not of the highest standard. Consult the official website of the Farnesina.
Classification criteria
The classification is based on data collected by the well-known international site Numbeo, which processes data collected by millions of users around the world. Numbeo indices take into account:
- cost of living,
- average rental cost,
- cost of food,
- cost of meals in restaurants,
- local purchasing power,
- costs of living including rent.
