Cost of Living
The cost of living is an important part of the planning process when you’re looking to move to a new country and become an expat. Various surveys have found that there are four different locations that are cheap for expats. Below are some of the areas you may want to look at when moving abroad.
Expats in the fourth largest economy will find that their finances will go incredibly far during their stay here. 80% cheaper than paying rent in the UK, as well as paying 54% cheaper groceries, living in India would be an entirely new and unique experience. Expats living in India will find amazing culture and diversity. Settling in will also be easy as English is a widely spoken language there.
This wonderful country is known for its unique landscapes, friendly locals, and great culture. The climate in Mexico varies greatly. This allows you to choose if you want to live by the tropical coast and soak up the sun, or live more inland.
The cost of living excluding the rent, according to Numbeo, can be up to 50% cheaper than in the UK. Renting property is also incredibly cheap being on average up to 70% cheaper than paying rent in the UK. Residents over the age of 60 can get a senior discount card called INAPAM (Instituto Nacional para las Personas Adultas Mayores). This gives you a 5%- 50% discount on certain goods and services such as cinema, hotels, healthcare, and transport.
With 320,000 British citizens already living in South Africa. You will find yourself right at home to a supportive and welcoming community. The nation, spanning 1.2 million square kilometres, with three capital cities, has an endless amount to explore and experience. The cost of living compared to the UK is over a third lower, while the rental bills are 50% cheaper. Not only is South Africa much cheaper, it also offers an incredible experience for people wanting to find an adventure. The lower expenses will allow you to experience a diverse culture as well.
A survey conducted by the InterNations Expat Insider had found that Taiwan had risen to the top in the 2016 personal finance chart. With Taiwan only disappointing 2% of their expat residents, which is much better than 17% found in other countries. 28% of expats who currently live in Taiwan have said they are completely happy with the financial situation they are in.
A lot of these countries may not be the first places you think of when becoming an expat. The money you save and the new experiences you get however, may make you consider these countries when making a plan for your future.