Looking for a change of scenery?
If you plan to go abroad, the expatriate networking membership site InterNations released its 2024 Expat Insider survey, which ranks the best and worst countries for expats. InterNations ranked 53 countries, which needed at least 50 respondents per country to be considered.
To determine which countries are most affordable, InterNations asked expats about three factors on the Personal Finance Index: their satisfaction with the general cost of living in their chosen country, their financial situation and whether their disposable income is enough to live comfortably.
One particular country has reigned supreme for its affordability for the last three years of this annual survey.
Let’s take a look at which country that is, as well as its runner-ups. Then, we’ll see which countries are the least affordable.
1. Vietnam
This is the third time in a row that Vietnam has been No. 1 for affordability. Half of every surveyed expat there says the cost of living is “very good.” Plus, 68% say their disposable income is more than enough to live comfortably — the global average for those who say they have enough is 41%, according to InterNations.
It ranked eighth for the overall best place to live as an expat.
2. Colombia
Colombia moved up from seventh place to second place this year. Only 11% of survey respondents from this country say they’re dissatisfied with their financial situation. Most (91%) say their disposable income is more than enough to live comfortably.
It ranked fifth for the overall best place to live as an expat.
3. Indonesia
Most (72%) expat respondents here say they’re happy with their finances, and almost a third (29%) say they’re “very much so.” Indonesia earned third place as the overall best destination for expats.
One respondent told InterNations that climate and safety are additional draws of Indonesia in addition to the cost of living.
The rest of the top 10
Just because they didn’t make it into the top three, doesn’t mean these countries can’t also provide wallet-friendly living. Here are the rest of the most affordable countries for expats, according to InterNations.
- Panama (4th)
- Philippines (5th)
- India (6th)
- Mexico (7th)
- Thailand (8th)
- Brazil (9th)
- China (10th)
Now for the countries at the opposite end of the spectrum.
The bottom 10
Maybe you don’t have your eyes set on any of the top 10. But if you’re looking to move abroad, know that other expats do not rank the following countries highly for affordability.
- Kuwait (ranked 44th out of 53 countries)
- Turkey (45th)
- Bahrain (46th)
- New Zealand (47th)
- Singapore (48th)
- Norway (49th)
- Ireland (50th)
- United Kingdom (51st)
- Finland (52nd)
- Canada (53rd)
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