Many people are looking for a place where they can feel good about living, but they also expect it to be financially comfortable. Sometimes, responsibilities and lack of money do not allow them to enjoy the way they would like to.
The Economist Intelligence Unit (EUI), of the British magazine The Economist, conducted a study comparing prices in more than 173 cities around the world and has revealed which are the cheapest cities in the world. The data have been collected in the report “Worldwide Cost of Living 2021″.
The EIU’s analysis of the world’s cheapest cities takes into account parameters such as the cost of rent, transportation, education, food and beverages, household goods and personal care.
According to the study, the five cheapest cities in the world are the following: Damascus in Syria, Tashkent in Usbekistan; Zambia, Caracas in Venezuela and Almaty in Kazakhstan.
Lisbon tops the list for its quality of life, safety and natural beauty. Its cost of living is low due to low government taxes and low real estate prices.
The International Labor Organization (ILO) reports that the minimum interprofessional wage for 2021 in Portugal has been set at 775.8 euros per month, or 9,310 euros per year, taking into account that 12 annual payments are considered.
Cali has been considered in the list for the price of its rents, as it is now the safest area and charges 25% cheaper than in Medellin. In addition, its climate is warm and its inhabitants are known for their friendliness.
According to the International Labor Organization (ILO), the Colombian government set the minimum wage for 2021 at US$242.02 (908,526) per month and US$28.36 (106,453) in transportation allowance.
Santo Domingo, Dominican Republic
According to the study, the Dominican Republic has one of the fastest developing economies in Latin America. As a result, its capital, Santo Domingo, has become a charming and attractive destination for tourism and investment.
According to Efe, the minimum wage in private companies in the Dominican Republic is up to 11,900 pesos (about 208 dollars) per month. Workers in large companies reach a minimum wage of 21,000 pesos (about US$368).
San Pedro, Belize
Many people dream of living on a Caribbean island, for them, San Pedro is a good option. The budget needed to buy a beachfront house is not high, and if you want to live relaxed, this is a great opportunity.
The South of France is seen as one of the most ostentatious destinations in the world, but it has low-cost areas. Languedoc, a French region known for its medieval villages, is affordable for modest pockets.
Saint-Chinian is a small, inexpensive village a couple of hours by train from Paris and Spain. Ideal for those who want to travel and live well on a tight budget.
“Abruzzo has everything Tuscany has to offer and more, at a fraction of the cost2, describes the study. This Italian town is small, but its crystal clear waters of the Adriatic Sea are beautiful. The beauty of the town’s architecture and ancient art make it a perfect choice.
Although the capital of Slovenia is not often visited by many tourists in Europe, its low cost of living and beautiful scenery make it a destination worth visiting.
It is modern, but has a natural small-town feel. Everything is close by, like Venice, which is less than three hours away by train.
Playa del Carmen, Mexico
Playa del Carmen is a coastal resort in Mexico located on the Caribbean coast of the Riviera Maya, one of the most beautiful places in Mexico and the world. This place not only has natural beauty, but it is also a good opportunity to stay and live, because with a low budget you can settle down.
The ILO states that in Mexico the minimum wage is divided into two geographical areas:
Northern Border Free Zone (43 municipalities in six states: Baja California, Sonora, Chihuahua, Coahuila, Nuevo Leon and Tamaulipas): US$10.02 per day.
Rest of the country: US$6.65 per day.
Bali is the Indonesian island considered one of the most important tourist destinations in the world. In this beautiful place you can live relaxed and with a low economic budget. They also recommend Sanur, a suburb away from the bustle of tourists, but close enough to the life of the city.
Da Nang, Vietnam
Da Nang is Vietnam’s third largest city and also a place to live well and cheaply. For those who can tolerate the hot and humid climate of the Asian country, Nang can be a good choice for living in a cosmopolitan city and an economy that is moving forward.