Map Shows Most Affordable Countries Americans Can Move To
3 min readAs a result of the soaring cost of living in the U.S., many Americans are considering relocating to more affordable countries, where their dollars stretch further.
But where to go?
The latest Expat Insider report from InterNations has some answers. The report includes a Personal Finance Index, which evaluated countries based on the general cost of living, satisfaction with financial situations, and whether disposable household income was sufficient for a comfortable life.
Based on that, here are some of the most affordable destinations for Americans in 2024.
In the report, expats rated three different factors on a scale of one (very bad) to seven (very good). These factors were:
- General cost of living
- Satisfaction with their financial situation
- Whether a respondent’s disposable household income is enough to lead a comfortable life
In order to be featured, a country had to have a minimum of 50 respondents. In 2024, 53 destinations made this threshold, including Canada, the U.K. and Mexico.
Vietnam tops the list for the third consecutive year, with over 86 percent of expats rating the cost of living positively, and 50 percent rating it as very good. Additionally, 68 percent of expats in Vietnam find their disposable income sufficient to lead a comfortable life. This makes Vietnam a prime destination for Americans seeking affordability and a high quality of life.
Colombia follows as the second most affordable country. In Colombia, 85 percent of expats view the cost of living favorably, and 91 percent believe their income is enough to live comfortably. The country’s diverse landscapes, vibrant culture, and low living costs make it an attractive option for American expats. InterNations’ chief marketing officer Kathrin Chudoba told Newsweek that Americans make up 27 percent of Colombia’s expat community, according to their data.
People on a beach watch as a Vietnamese Airlines plane lands on February 22, 2023 in CON DAO, Vietnam.
Nick Ut/Getty Images Entertainment/GC Images
Indonesia ranks third, praised for its low cost of living and expat-friendly environment. Around 72 percent of expats in Indonesia are satisfied with their financial situation, and 69 percent rate the cost of living favorably. With its beautiful islands and rich cultural heritage, Indonesia is a popular choice among expats.
Panama is a popular choice, particularly for retirees. Americans make up a whopping 42 percent of expats in the country, Chudoba told Newsweek, the second highest share after neighboring Costa Rica on 43 percent. Known for its Pensionado Visa, Panama attracts many with its tax exemptions and various discounts for retirees. The country’s use of the U.S. dollar eliminates currency exchange concerns, and its proximity to the U.S. makes it a convenient option.
The Philippines the fifth most affordable country on the list, combines affordability with a welcoming environment for expats. With its numerous islands, friendly locals, and English-speaking population, it’s an easy transition for many Americans. The cost of living in the Philippines is notably low, especially outside urban centers, making it a preferred destination for retirees and digital nomads. The expat community here is 31 percent American, according to Chudoba.
Other countries popular with Americans include Mexico, where the share of U.S. expats compared to other nationalities is 36 percent, and Brazil (32 percent). Further down the rankings are Japan (28 percent), South Korea (26 percent), Portugal (22 percent) and Chile (20 percent).
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