Top 5 Affordable Countries to Live and Work

February 25, 2025

If you’re seeking a more affordable lifestyle without compromising on quality, several countries offer a lower cost of living, rich culture, and welcoming environments for expatriates. Here are five countries where you can stretch your budget while enjoying a fulfilling life:

1. Colombia

Colombia offers vibrant city life at a fraction of the cost found in many Western countries. In cities like Medellín and Cartagena, two-bedroom rentals range from $500 to $2,000 per month, depending on location and amenities. The country’s diverse landscapes, from rainforests to tropical beaches, provide endless exploration opportunities. Additionally, Colombia offers a digital nomad visa, allowing remote workers to stay for up to two years.

2. Portugal

Portugal has become a popular destination for expatriates due to its affordable cost of living compared to other Western European countries. In Lisbon, a furnished one-bedroom apartment can be rented for under $1,000 per month. The country’s rich history, beautiful beaches, and vibrant culture make it an attractive place to live. Digital nomads can apply for a visa to stay in Portugal for up to two years, while visitors can enjoy up to 90 days visa-free.

3. Costa Rica

Known for its commitment to sustainability and natural beauty, Costa Rica offers a peaceful lifestyle. A two-bedroom apartment rents for around $800, and the cost of fresh, organic food is relatively low. The country’s diverse ecosystems, including rainforests and beaches, attract nature enthusiasts. Costa Rica provides a 180-day tourist visa, making it ideal for those wanting to experience the lifestyle before making a long-term commitment.

4. Mexico

Mexico offers a diverse living experience, from bustling cities to serene coastal towns. In areas like Oaxaca or San Miguel de Allende, rents for a studio near the beach start at $600 per month, while more historic locations begin around $900. The rich cultural heritage, delicious cuisine, and friendly communities make Mexico appealing to many expatriates. The country offers a temporary work visa allowing stays from six months to four years.

5. Panama

Panama is notable for its use of the U.S. dollar, simplifying financial transactions for American expatriates. Housing is affordable, with mountain homes averaging $800 per month and two-bedroom apartments in Panama City ranging from $600 to $1,000. As one of the world’s few carbon-neutral countries, Panama appeals to those seeking an eco-friendly lifestyle. The digital nomad visa allows remote workers to stay for up to nine months, providing ample time to explore the country’s tropical climate and rich culture.

These countries not only offer affordability but also vibrant cultures and welcoming communities, making them excellent choices for those looking to live and work abroad.