- Home » Expat News » Country cost comparisons for thrifty expats
Country cost comparisons for thrifty expats
| Published: | 18 Jul at 6 PM |
Want to get involved?
Become a Featured Expat and take our interview.
Become a Local Expert and contribute articles.
Get in touch today!
Become a Local Expert and contribute articles.
Get in touch today!
Given the vast number of surveys citing various costs of living in countries across the globe, expats should find it easy to decide which countries match their financial situations.
For would-be expats, the cost of living in their preferred destination is perhaps the most important aspect of planning a life overseas. Whatever the financial situation, monthly expenses and the cost of setting up are crucial to the choice, with less expensive countries allowing a few luxuries as well as necessities. Costs are, of course, relative to income, especially if you’re a recent retiree on a pension, and getting it right can make all the difference in your new life.
Surveys help the decision-making process, but are normally dependent on individual lifestyles and often report subjective opinions based on salaries for professional positions. Currency fluctuations don’t help, especially in these troubled times. In addition, not all expenses in so-called cheaper countries are lower than in the UK, with higher rental rates or electricity charges blowing a hole in the best-managed budgets.
Searching for a destination where everything is cheaper might well bring up India as a good example. Rentals run at around 80 per cent less than in Britain, and food costs average out at 50 per cent cheaper. Travel is amazingly inexpensive and the huge country’s diversity and fascinating culture as well as its use of the English language make it a good bet for adventurous would-be expatriates.
If you’re leaning towards an Asian destination and looking to work once you’re settled in, Taiwan is popular for modernity combined with a fascinating culture and history. Expat professionals are generally happy with the cost of living and its effect on their finances, and living like a local opens up culinary delights as well as cultural experiences.
Mexico’s average cost of living is estimated at 50 per cent cheaper than the UK, and the weather is far more enjoyable for those who crave sunshine in summer. Coastal resorts are favourites with US expats, with Brits made welcome as well. Rentals are 70 per cent less than the UK average, and those who prefer cooler temperatures can head for the country’s charming hillside towns. For retirees over 60 years of age, Mexico’s senior discount card gives up to 50 per cent off necessities such as healthcare, transport and even cinema tickets.
For would-be expats, the cost of living in their preferred destination is perhaps the most important aspect of planning a life overseas. Whatever the financial situation, monthly expenses and the cost of setting up are crucial to the choice, with less expensive countries allowing a few luxuries as well as necessities. Costs are, of course, relative to income, especially if you’re a recent retiree on a pension, and getting it right can make all the difference in your new life.
Surveys help the decision-making process, but are normally dependent on individual lifestyles and often report subjective opinions based on salaries for professional positions. Currency fluctuations don’t help, especially in these troubled times. In addition, not all expenses in so-called cheaper countries are lower than in the UK, with higher rental rates or electricity charges blowing a hole in the best-managed budgets.
Searching for a destination where everything is cheaper might well bring up India as a good example. Rentals run at around 80 per cent less than in Britain, and food costs average out at 50 per cent cheaper. Travel is amazingly inexpensive and the huge country’s diversity and fascinating culture as well as its use of the English language make it a good bet for adventurous would-be expatriates.
If you’re leaning towards an Asian destination and looking to work once you’re settled in, Taiwan is popular for modernity combined with a fascinating culture and history. Expat professionals are generally happy with the cost of living and its effect on their finances, and living like a local opens up culinary delights as well as cultural experiences.
Mexico’s average cost of living is estimated at 50 per cent cheaper than the UK, and the weather is far more enjoyable for those who crave sunshine in summer. Coastal resorts are favourites with US expats, with Brits made welcome as well. Rentals are 70 per cent less than the UK average, and those who prefer cooler temperatures can head for the country’s charming hillside towns. For retirees over 60 years of age, Mexico’s senior discount card gives up to 50 per cent off necessities such as healthcare, transport and even cinema tickets.
Comments » No published comments just yet for this article...
Feel free to have your say on this item. Go on... be the first!
