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50 Cheapest Countries to Live In

GOBankingRates Logo By Teo Spengler of GOBankingRates | Slide 1 of 50: <p>The dream of living abroad is one that many Americans share. Unlike tourists, expats get to see new places through the locals' eyes, checking out the hottest restaurants, the coolest bars and all the best cultural experiences. However, when it comes to living expenses, not all overseas destinations are created equal.</p><p>Using information from online pricing database Numbeo, GOBankingRates assessed foreign nations to determine which were the most budget friendly. Measuring each against prices found in New York City, we ranked countries based on these four key affordability metrics:</p><strong>Local purchasing power index:</strong> Measures the relative purchasing power of a typical salary in the country. A lower purchasing power buys fewer goods, while a higher purchasing power buys more.<strong>Rent index:</strong> Includes typical home rental prices in the country.<strong>Groceries index:</strong> Includes typical grocery prices in the country.<strong>Consumer price index:</strong> Includes costs of local goods and services, such as restaurants, transportation and utilities.<p>Before you buy that plane ticket, or put the house on the market, check out these inexpensive <a href="https://www.gobankingrates.com/personal-finance/travel-hot-spots-dollar-goes-furthest/">destinations where your money goes furthest</a>. </p>

The dream of living abroad is one that many Americans share. Unlike tourists, expats get to see new places through the locals' eyes, checking out the hottest restaurants, the coolest bars and all the best cultural experiences. However, when it comes to living expenses, not all overseas destinations are created equal.

Using information from online pricing database Numbeo, GOBankingRates assessed foreign nations to determine which were the most budget friendly. Measuring each against prices found in New York City, we ranked countries based on these four key affordability metrics:

Local purchasing power index: Measures the relative purchasing power of a typical salary in the country. A lower purchasing power buys fewer goods, while a higher purchasing power buys more.Rent index: Includes typical home rental prices in the country.Groceries index: Includes typical grocery prices in the country.Consumer price index: Includes costs of local goods and services, such as restaurants, transportation and utilities.

Before you buy that plane ticket, or put the house on the market, check out these inexpensive destinations where your money goes furthest.

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