Cheapest Countries 2010
Posted on 26. Jun, 2010 by Forest in Cheapest Places To Live, General, Opinion, Saving Money & Finances
I am living in Egypt and am having to deal with a visit to Sweden in a few days…. Not a cheap place. So I wanted to take a look at the cheapest countries, 2010 to see where my money would have been better spent….
This exercise is not just to make myself feel sick at the prices in Sweden but also important because I am thinking of moving to a new country next year. Moving to another country in retirement or just because your job is portable (online or by phone, or you are on a grant for research or writing as examples) is a great way to save a ton of cash, be inspired and generally live a better life.
You may also be interested in the article we have on the cheapest cities to live, 2010.
Egypt
I already live in Egypt but not at the cheapest that I can. From my travels it seems that I could live almost as comfortably on under half the price (first need to move from the expat area). It’s possible to find good quality hostel/hotel’s down in Luxor for less than $5 per night. You can also eat for next to nothing per day with a meal in a local restaurant available often for less than $1. Internet is about the same price as USA but if you can find a decent cafe or are staying in a hostel you can normally get reasonable free wifi. Some of the coastal towns like Dahab or even more Egyptian places can give you a life of paradise at dirt cheap prices…. I love Egypt for this.
India
Like Egypt India sounds like it is possible to spend a lot of money but in similar respects if you stay off the beaten path things get cheap very quickly with many travelers reporting living for around $3-$5 per day.
Thailand
I don’t think Thailand is the cheapest these days but it can be luxurious. $20-$30 a day can get you around for the most part and luxury is easy to find at much more affordable prices than USA.
Other places
Now these are some of the popular destinations, all full of tourist attractions but for the quiet life you could find many places in South America, including Brazil and Argentina. Sadly Greece just had a collapse but it may be the best time to get in there quick and also Pakistan, China and maybe even New Zealand are other destinations to consider right now. Also remember Iceland went bankrupt and could be an excellent place to look at…
Forbes, cheapest countries in 2009
Forbes published an article featuring some of the cheapest countries in 2009 to see in the recession. According to their list based on dollar growth the 15 cheapest countries were:
- Zambia
- Fiji
- Czech Republic
- Chili
- Romania
- Iceland
- Jamaica
- Norway (I’m not sure about this one!!! I hear it’s darn expensive in all of Northern Europe)
- Russia
- United Kingdom (Definitely NOT!)
- Brazil
- Columbia
- Poland
- Sweden (Errr, I don’t think so!)
- Hungary
I really think Forbes should have looked at a bit more here but much of their list make sense.
Your experience and further discussion for the cheapest countries, 2010?
If you are thinking of becoming a resident in another country then you need to establish a lot more than just how cheap they are. Looking at the tax rates by country, wages for your job (unless you can work remotely) and many other factors.
I want to know what you know or have heard. Leave a comment and let us know of take a hike over to our forum and start discussing it here: Frugal Zeitgeist Forum, Cheapest Countries, 2010.
Thanks for your time and don’t hesitate to ask any questions.
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29 Responses to “Cheapest Countries 2010”
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June 28, 2010
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Funny about Money
27. Jun, 2010
That’s an odd list, the Forbes thing. What about Mexico? They’re in the middle of a huge depression–Mexico has had three recessions comparable to our Great Recession, one after another. A Mexican friend tells me there literally are NO jobs there. This means people will fall all over themselves to work as your servants for next to nothing.
Of course you have to deal with the small matter of a de facto civil war. But that’s currently confined to just a few areas. So far.
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Forest
17. Jul, 2010
Yeah it is odd… It’s related to falling currencies and economy I think though rather than actual ground zero cost….. Like this is the best time to visit them.
Mexico is a good option and in many ways it’s responsible tourism to go and spend your cash in places where they need the money most…. Share the wealth!!!
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Austin @ Foreigner's Finances
28. Jun, 2010
What’s happening in Sweeden?
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Forest
17. Jul, 2010
Hey Austin, I just got back from Sweden actually and all seems fine there….. people seem to be employed, social welfare is working but it’s darn expensive, especially when compared to Egypt!!!
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Penniless Parenting
02. Jul, 2010
What are you including to make something count as cheap? Rent? Food? Clothing? Salary? Or are you simply looking for a place with a good exchange rate because you’re living off of dollars? For example, central america is a cheap place to live, but unless you’re earning your income in dollars, it is very hard to survive there, because in addition to cheap living, it also means nothing salaries.
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Forest
17. Jul, 2010
Hey Penniless Parenting, this article is fairly loose but for me cheap includes the actual cost to live but most of the time I relate it to earning in dollars as I work on the internet.
To truly rate the cheapness of a country I think it would involve working out the mean wage and compared to the mean cost of living for each place (assuming you would work in the said country).
Central America is a good option I think if you have $$$$$$.
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Bytta@151DaysOff
12. Jul, 2010
I think they include UK due to weakening GBP compared to USD, EUR and AUD. In that sense, it is cheaper to go to GBP these days… although I see the rise pretty soon.
I would include Malaysia and Indonesia on the list.
However, as far as I’m concerned, naming cheapest country can be inaccurate as living standard and cost within a country could vary widely.
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Forest
17. Jul, 2010
Hey Bytta, yes these lists are never exactly accurate as everyone’s situations are different. For me Egypt is cheap as I earn in USD and I can get internet here to continue work…. The cheapest places in the world are unlikely to have the internet for me to work so they are no good for me personally.
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Denise
22. Jul, 2010
Very interesting article. Thank you for sharing!
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Forest
25. Jul, 2010
Thanks Denise for your comment
.
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darris
28. Jul, 2010
lol chili is food Chile is a country.
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Forest
28. Jul, 2010
Hey Darris, oops did I miss the cap C somewhere?
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susan
13. Aug, 2010
Subscribe to International Living-they also discuss the ins and outs of living in certain countries.
Currently on my list, and i will list them in order of least expensive t o most expensive for you though that is not all Im looking at: Ecuador, Uruaguay, Panama, Mexico, Costa Rica, Brazil, Belize. This is according to things i have read so it may be a little out of order but close enough. You’d want to visit a place you were seriously considering and ask questions anyway.
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Forest
15. Aug, 2010
Thanks Susan, I will definitely be checking out International Living. I am interested in finding out more about Belize especially right now.
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Mike Klein
13. Aug, 2010
Bosnia is also relatively cheap. Basic pension accommodation in Sarajevo is about $30, and excellent meals range from $5-$20. Beer, wine and local brandies (Bosnians, while nominal Muslims are often prodigious drinkers) are also as cheap as $1 per drink. Certainly from a European perspective, nowhere in Europe can match Sarajevo and Bosnia’s match of prices and quality.
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Forest
15. Aug, 2010
Thanks Mike, I have never thought about looking at Bosnia before, I will definitely check it out some point soon.
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Paul Soh
16. Aug, 2010
Chiang mai Thailand is very cheap compared to Bangkok, Phuket or the other islands. A lunch is still US$0.80 for noodles or $1.00 for fried rice. Property prices are very low with a 30 year lease for a 92sq meter (1000 sq feet)house at USDS100,000 or US$ 9.00 per day.
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Forest
16. Aug, 2010
Hey Paul, thanks for the tip. I want to visit Thailand and was thinking of trying to avoid Bankok for the most part…. Once you find a cheap country it really pays to look around inside to find the idea place.
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j choban
29. Sep, 2010
I second those who mention Mexico. When I left the US I thought I had enough saving to live for two years. Its been four years. I’ve made trips to Asia and Central America and I still think I have enough money left for two more years.
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Forest
03. Oct, 2010
Wow that’s awesome to get double your time…. Usually works completely the other way!
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DK
11. Nov, 2010
Dude, go to laos, i lived there earlier. Its a country in south-east asia near Thailand. Its cheap as shit. Of course the medical is not so good but you can always go to thailand thorugh a linked bridge by car. And to Udon Thani which has everything, food, clothes, tvs, medical, all you can think of. In Laos houses are really cheap. A medium house of about 3-4 bedrooms costs around 500$ a month
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Forest
14. Nov, 2010
Hey DK, was just talking to a good friend about Laos this weekend. It sounds amazing!
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susan
15. Nov, 2010
Ecuador: 600 dollars a month total is plenty. $180 for a 3 bedroom 2 bath home, 1.50 for lunch including drink, 2.00 for a 4 course dinner. Health insurance for 49 dollars a moonth. Nice little country. You can spend less than 600 monthly with a little effort.
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Forest
21. Nov, 2010
Hey Susan, sounds perfect, thanks for the tip off
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Don
12. Feb, 2011
Russia? Yeah, Forbes needs to check their list. I’ve lived in St Petersburg for 6 years now. It and Moscow are two of the most expensive cities in the world. It costs $1M for a standard one room flat near the center of Moscow. Hotels run about $400/day on up and it costs about $12-$15 for an imported beer in the bar.
India, OTH, was spot on. I spent 3 months in Goa a couple of years ago and lived like a king on a budget of $1000/month. And, I absolutely couldn’t spend my budget. I rented a luxury 2-room flat, got shaves every other day at the barber, rented a Royal Enfant motorcycle and ate in restaurants 3 meals a day and spent only $800/month.
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Forest
05. Apr, 2011
Hey Don, thanks for that info. I have never been to Russia so wasn’t aware it was like that!
I can’t wait to go to India.
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Darrin Jones
18. Apr, 2011
As far as Mexico goes, I live there (at least 50-60% of the time) and I have a few comments. First in response to your first commenter in this list – “Of course you have to deal with the small matter of a de facto civil war. But that’s currently confined to just a few areas. So far.” I live in Sonora and travel quite a bit there and the area seems as stable and far safer than most places in the U.S. of A.
Second, if you are going to rate a place by how many servants you can hire, then maybe you should consider staying home. I have several employees at a small Eco Resort and still do my own cleaning and most of the maintenance work. Sure, I can hire someone to do just about everything considered a chore, but that would be no way to get to know the culture and people of an area.
Mexico is being crapped on by the Media and by the U.S. State Department and the corporate interests that control them. Sure 30,000 + people were killed in a “U.S. Driven” Drug War in a period from Jan. 1, 2006 to Jan. 1, 2011 (5) Five Years!! But more than 30,000 people are murdered in the United States by handguns every single (1) year, just by handguns. And the vast majority dying South of the Border are “in the Life”, on the North side of the Border all kinds of people are being murdered, and it has been going on a lot longer than since Jan. 1, 2006.
Mexico is a beautiful and diverse country. But I think that the powers that be may want to keep people scared enough to stay home. If they can be manipulated that easily, then maybe they should stay home. But there is one danger in visiting Mexico, and that is, You may never want to leave…
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Forest
19. Apr, 2011
Hey Darrin, thanks for the awesome insight into Mexico. I am back in Egypt now and really hope that fear doesn’t keep the tourists away much longer, it’s safer than some US cities here for sure too!
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