5 Affordable Countries to Live and Work in

Are you feeling overwhelmed by the high rent and living costs where you currently live? If so, you’re not alone. Many people are looking for places to live that are more affordable but still offer a good quality of life. 

Whether you’re thinking about working from somewhere new, taking a break, or just looking for an adventure, there are countries out there known for their lower living costs, beautiful scenery, and interesting culture. 

Here are five countries where life is more affordable, based on the Global Retirement Index:

1. Colombia 

Colombia is a great choice if you want to enjoy city life without spending too much. In cities like Medellín and Cartagena, you can find two-bedroom apartments for $500 to $2,000 per month. Colombia is known for its exciting coffee culture and diverse food. Plus, you can easily get a visa to work remotely for up to two years.

2. Portugal 

Portugal is popular among people moving from other countries because it’s cheaper than many Western European countries. In Lisbon, you can rent a one-bedroom apartment for less than $1,000 a month. This makes it easier to enjoy the local cafes, historic streets, and beaches. You can also get a long-term visa to work remotely.

3. Costa Rica 

If you care about living in a place that values nature and sustainability, Costa Rica is a great option. Renting a two-bedroom apartment costs about $800 a month, and healthy, organic food is affordable. You can stay for up to six months on a tourist visa to see if you like the relaxed lifestyle.

4. Mexico 

Mexico offers a variety of living experiences, from busy cities to quiet towns. You can rent a small apartment near the beach for just $600 a month. If you prefer places with more history, like San Miguel de Allende, rents start at about $900. Mexico has visas that let you stay from six months to four years, giving you plenty of time to explore different areas.

5. Panama 

Panama is especially easy for American expats because it uses the U.S. dollar. Rent is affordable, with mountain homes averaging $800 per month and city apartments ranging from $600 to $1,000. Panama is also focused on being environmentally friendly. The digital nomad visa allows you to stay and work remotely for up to nine months.