The Cheapest (and Safest) Places to Live in the World

As the cost of living in Canada increases, some Canadians are looking to move abroad to stretch their dollar. While many countries around the world are cheaper to live in than Canada, safety is often the most significant trade-off. We scoured the globe to find the best of both worlds.

First, we looked for the most affordable countries according to Immigrant Invest. Then we looked at how the top affordable countries rated on the Global Peace Index, which ranks the world’s nations on 23 quantitative and qualitative indicators for peace and safety.

The result: Our list of the Top 10 cheapest and safest places to escape to. Note that the cost of living amounts are for one month and expressed in US dollars.

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1 / 10

Portugal

Cost of Living: US $1,180

Global Peace Index: #7

Portugal’s popularity has exploded in recent years, and for good reason: Portugal’s living costs are affordable, the culture is welcoming and it’s safe. For a relatively small country, Portugal’s regions are very diverse, from Lisbon’s nightlife to the beach scene in the Algarve. The weather is mild, the food exciting (especially if you like seafood) and time moves a little slower here.

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2 / 10

Slovenia

Cost of Living: US $1,230

Global Peace Index: #9

Slovenia’s affordable housing, healthcare, education and leisure options, combined with its safety and stability, make it an attractive destination for those seeking a high quality of life at a relatively low cost of living. The scenery is pretty nice, too.

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3 / 10

Malaysia

Cost of Living: US $598

Global Peace Index: #10

Malaysia is the third of three countries on our list that are also in the Global Peace Index’s Top 10. Located in Southeast Asia, the country ranks high for safety, has a low cost of living and great quality of life. Add modern infrastructure, stunning natural attractions and cultural diversity and you’ve got an affordable and comfortable place to call home.

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4 / 10

Czech Republic (Czechia)

Cost of Living: US $1,284

Global Peace Index: #12

If you’re looking for a high standard of living at a reasonable cost, the Czech Republic (or Czechia) is a great choice. The crime rate is low, and thanks to a large expat community, you’ll find it easy to settle in. The country has a rich history and is filled with stunning architecture. There’s a vibrant cultural scene, especially in Prague and Brno, where you’ll also find modern amenities mixed with old-world charm.

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5 / 10

Bulgaria

Cost of Living: US $786

Global Peace Index: #26

Bulgaria is known for its low living costs, affordable housing and inexpensive dining and entertainment options. The country boasts a low crime rate and safe and friendly big cities like Sofia. While there are minor concerns, such as petty crime, overall, Bulgaria is an attractive spot for expats and retirees.

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6 / 10

Latvia

Cost of Living: US $1,002

Global Peace Index: #30

Latvia is an affordable and safe destination for expats. The cost of living is relatively low compared to Western Europe. A monthly budget of $1,000 will afford you a comfortable lifestyle. Rents are reasonable, even in the capital Riga, where you can get a one-bedroom apartment for about $350. Eating out won’t break the bank either. The weather isn’t tropical but you’ll find it similar to many parts of Canada.

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7 / 10

Vietnam

Cost of Living: US $628

Global Peace Index: #41

Vietnam offers a low cost of living, a safe environment, a friendly culture and job opportunities in areas such as teaching English. Depending on the job and your qualifications, getting work permits and visas can be a smooth process. Housing, food and transportation are all very affordable, and Vietnam’s warm climate and incredible scenery only add to its charm.

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8 / 10

Costa Rica

Cost of Living: US $1,073

Global Peace Index: #58

Costa Rica makes an ideal destination for Canadian expats thanks to its tropical climate, low cost of living and high quality of life. The country offers breathtaking natural beauty with clean beaches, lush rainforests and incredibly diverse wildlife. If you like the outdoors, you’ll find the perfect lifestyle here. Affordable housing and healthcare also help stretch the Canadian dollar. Your tropical paradise is just a flight away!

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9 / 10

Chile

Cost of Living: US $1,040

Global Peace Index: #64

Chile is a safe and affordable place for Canadian expats due to its low cost of living, stable economy and relatively low crime rates compared to other countries in Latin America. Even on a limited budget, you can enjoy a comfortable lifestyle in coastal cities like La Serena, Viña del Mar and Arica. With an easy visa process, Chile makes an excellent choice for those looking for a cheap and safe place to live.

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10 / 10

Thailand

Cost of Living: US $835

Global Peace Index: #76

Thailand’s low cost of living and relatively low violent crime rates make it an excellent expat option. Canadians can comfortably live on modest incomes as housing, food and healthcare are very affordable. While crimes like theft do happen, violent crime is rare. Air pollution and dangerous road conditions may be a concern for some, so taking a test drive before committing to a long-term stay is always a good idea.