Philippines, India ranked among most affordable countries: US News

(MENAFN- The Peninsula) Mahmoud Elmazati | The Peninsula Online

Doha, Qatar: Internationally focused weekly magazines World Report and US News & World Report have released their findings on the cheapest countries to live in, based on a global survey of respondents.

A global survey is a research method used to gather insights from individuals around the world, often conducted online.

Determining countries’ affordability of living takes into account various factors, including living costs and quality of life indicators such as health, safety, entertainment and education. This holistic approach provides a well-rounded assessment of a country’s overall appeal in terms of affordability and quality of life.

Top 5 Cheapest Countries to Live and Travel

1. Thailand
Notable for affordability, Southern Thailand is recognized as one of the most visited countries in the world despite its country status. Thailand has a vibrant agricultural sector and competitive industries including textiles, electronics and tin manufacturing.

2. Vietnam
Located on the eastern Indochinese peninsula, Vietnam’s economy has traditionally relied on agriculture and significant bauxite mining. It receives substantial revenue from tourism which attracts millions of visitors annually.

3. The Philippines
Comprising 7,641 islands in South Asia, the Philippines is moving towards a service- and manufacturing-based economy. Known for its attractive climate and low cost of living, it is a favorite holiday destination for expats and a major destination for diving and tourism.

4. Indonesia
As the world’s largest archipelagic state, spread over Southeast Asia and Oceania, Indonesia is the strongest economy in its region. Its economic backbone includes fishing, petroleum, timber and a strong tourism sector driven by its rich natural and cultural heritage.

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5. India
One of the fastest growing economies in the world, India combines modernity with historical richness. Major economic sectors include services, telecommunications, chemicals and software, which contribute to its appeal as a low-cost, culturally rich destination.

In a related report, ImmigrantInvest released a comprehensive list in April 2024 that pinpoints the countries with the lowest monthly living costs worldwide, covering essentials such as housing, groceries and healthcare. Pakistan tops the list at $332 per month, followed by India.

Top 10 countries with lowest monthly living expenses:

1. Pakistan – $332
2. Egypt – $350
3. Nepal – $374
4. Bhutan – $409
5. Burundi – $428
6. Libya – $429
7. Tunisia – $431
8. Algeria – $439
9. India – $440
10. Afghanistan – $441

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