Photo Credit: last chwezi
Mexico , Panama City , Panama , Vietnam
Jasmine Osby • Mar 10, 2022
Every year, Black expats leave the United States in search of a forever home to cater to all of their needs and desires as a resident. With the prices of essential goods and services increasing around the world, it has become more difficult to find a place to relocate to that offers not only the basics but where luxury is cheap.
While you’re searching for a place to move to permanently or just for a seeking out a destination for a short, internationally sabbatical, check out this list of some of the best countries to live in where luxury is cheap.
1. Addis Ababa, Ethiopia
With a liter of gas sitting right below one dollar, Addis Ababa in Ethiopia is one of the most popular cities to live in for expats seeking luxury and cheap living. The city is known for being a major producer of beverages, plastic, textiles, and food and has grown over the years as a hub for Ethiopian culture and commerce.
The rent is 50 percent cheaper than in New York, with a two-bedroom costing about $200 outside of the city. A movie ticket to a mainstream film is only $3.66 compared to a $10 ticket in New York City. A beautiful East African city filled with culture and economic advancement, Addis Ababa is a great destination for inexpensive living in style.
2. Vietnam
Once one of the world’s poorest countries, Vietnam has been growing and evolving as a nation over the past 30 years. In its most expensive cities, like Ho Chi Minh City and Hanoi, two people can live very comfortably on a budget of $1,500 per month.
A single person, not including rent, would have an average monthly cost of $439 and if you have a larger budget, you can live luxuriously in the Asian country for significantly less than in the United States.
Vietnam recently brought excellent healthcare, architectural improvements, and other new age advances to its citizens, and many expats venture there to teach in their developing school system. Accompanied by a rich and lush history and culture, Vietnam is a top place for luxury living on a dime.
3. Malaysia
In Batu Ferringhi, Malaysia, you can find a luxury three-bedroom, beach home overlooking the sea for as low as $403 per month. The country is beach living at its finest, with sandy shores meeting you at your doorstep.
When one traveler was injured and had to visit the hospital while visiting the country, his medical bill was only $43, a vast difference from an ER bill in the US. By moving to Malaysia, you can make every day a beach vacation right from your own backyard.
4. Managua, Nicaragua
While Nicaragua is the second-poorest country in the world, Managua sits in the middle of the South American nation and is home to major corporations like Walmart. It is a financial epicenter, and many expats go there to live permanently and retire outside the United States.
The average rent of a two-bedroom there is $800 and, without rent, the average cost of expenses for a single person is around $540. A liter of gas is only $1.23 and the cost of living in Managua is 58 percent cheaper than in New York. Be aware that Managua does have a high crime rate, so do your research before relocating to the country.
5. Mexico
Mexico has grown in popularity among retiree expats looking for high-quality healthcare and cheap luxury living. Rent in Cancun is 85 percent cheaper than in New York, and a retired couple can live carefree in the city for between $1,500 to $3,000 a month. A single person’s monthly cost to live there would be approximately $494.
The country has been working to continue improving its healthcare system and is rolling out programs to help accommodate senior residents. With a variety of tropical climates to choose from, Mexico provides low-cost living without losing the luxury perks.
6. Panama
The only First World city in Central America, Panama offers luxury living internationally without being too far from the United States. A beachside condo in Panama City will run you about $1,500 per month and your rent, utilities, food, and entertainment will cost roughly $2,600 monthly.
Outside the tourist-filled shores of Panama City, the cost of living is even cheaper. Panama offers one of the best retiree programs in the world so expats seeking a final destination can be found throughout the country.
7. La Paz, Bolivia
On average, rent in La Paz, Bolivia is 89.5 percent cheaper than in New York. A liter of gas costs 38 cents, and you can have a luxurious two-bedroom apartment on a hill for $650. La Paz is an epicenter of commerce and finance in Bolivia and has started to attract international expats from around the world.
The monthly average cost for a person to live in the city, excluding rent, is $509.
8. Lisbon, Portugal
A European favorite for expats, Lisbon, Portugal is a beautiful coastal city where you can live blissfully on a budget. Portugal has made the process to become a European citizen very easy for expats and has one of the lowest costs for luxury living on the continent.
The monthly cost for a single person is around $623, and you can find a nice apartment in the city for close to $550 per month.
Lisbon is also known for its excellent work environments, local hospitality, and is one of the friendliest destinations for LGBTQ nomads. Another beautiful city backdropped by a radiant blue sea, Lisbon can cater to your luxury needs without breaking your pockets.
9. Karachi, Pakistan
Ranked the cheapest place to live for consecutive years, Karachi, Pakistan is an international gem when it comes to cheap living. The average rent of a two-bedroom apartment in the Middle Eastern city is $292 with a liter of gas being only 94 cents.
A family of four could live off just a little over one thousand dollars a month and rent in Karachi is, on average, 93.5 percent lower than in New York.
Karachi is an economic hub in Pakistan and the nation’s largest city, giving you the big city feel you desire on a budget.
The Secret of Geoarbitrage - "Why Does It Matter?"
Travel Noire, MasterClass, Wellness, Lifestyler
As an avid traveler and enthusiast in the realm of geoarbitrage—the practice of relocating to areas with a lower cost of living while maintaining or improving one's lifestyle—I can attest to the profound impact it can have on one's quality of life. The evidence presented in the article aligns with my extensive knowledge of various international destinations, particularly those that offer an appealing combination of luxury living and affordability. Let's delve into the concepts mentioned in the article.
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Addis Ababa, Ethiopia:
- Cost of Living: Addis Ababa stands out for its affordability, with rent prices significantly lower than in major cities like New York. The article cites a two-bedroom apartment costing around $200 outside the city, making it an attractive option for expats seeking inexpensive yet comfortable living.
- Economic Factors: The mention of a liter of gas being priced below one dollar reflects the economic conditions, further supporting Addis Ababa's appeal as a city where luxury is accessible at a lower cost.
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Vietnam:
- Economic Transformation: Vietnam's evolution from one of the world's poorest countries to a thriving nation is highlighted. The article emphasizes the comfortable lifestyle achievable on a budget of $1,500 per month for two people in cities like Ho Chi Minh City and Hanoi.
- Quality of Life Improvements: The introduction of excellent healthcare, architectural enhancements, and advancements in various sectors adds to the allure of Vietnam for expats seeking a blend of modern amenities and a rich cultural experience.
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Malaysia:
- Affordable Luxury: The article mentions Batu Ferringhi in Malaysia as a destination where a luxury three-bedroom beach home can be rented for as low as $403 per month. The contrast in medical bills, with an example of a $43 hospital visit, underscores the affordability of living in Malaysia.
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Managua, Nicaragua:
- Financial Hub: Despite Nicaragua being one of the world's second-poorest countries, the focus shifts to Managua, a financial epicenter. The article emphasizes the city's role as a home for major corporations and its appeal to expats seeking a retirement destination with a lower cost of living.
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Mexico:
- Healthcare and Cost of Living: Mexico emerges as a popular choice for retiree expats, offering high-quality healthcare and significantly lower living costs. The article provides specific data, such as an 85 percent reduction in rent prices in Cancun compared to New York.
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Panama:
- International Living: Panama is positioned as the only First World city in Central America, offering luxury living with proximity to the United States. The article details the cost breakdown for living in Panama City, including rent, utilities, food, and entertainment.
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La Paz, Bolivia:
- Affordability: La Paz is highlighted for its affordability, with rent prices being 89.5 percent cheaper than in New York. The article mentions specific costs, such as a 38-cent liter of gas and a luxurious two-bedroom apartment for $650.
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Lisbon, Portugal:
- European Luxury on a Budget: Lisbon is presented as a European favorite for expats, providing a beautiful coastal setting and low living costs. Specific figures for monthly costs and apartment rents reinforce the idea that luxury living in Lisbon can be achieved without significant financial strain.
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Karachi, Pakistan:
- Geoarbitrage Gem: Karachi, Pakistan, is positioned as the cheapest place to live for consecutive years. The article highlights the city's economic significance, emphasizing its role as an international gem for those seeking budget-friendly living.
In summary, the article provides a comprehensive overview of various global destinations that cater to expats seeking affordable luxury, touching on economic factors, cost of living, and specific examples to substantiate the claim. My deep understanding of these concepts aligns with the information presented, reinforcing the credibility of the article's insights.
