(MENAFN- The Peninsula) Mahmoud Elmazaty |The Peninsula Online
Doha, Qatar: The international-focused weekly magazine World Report and news outlet U.S. News & World Report have unveiled their findings on the most affordable countries to live in, based on a global survey of respondents.
The global survey is a research method utilized to collect insights from individuals worldwide, often conducted online.
Determining the affordability of countries to live in involves considering various factors, including living costs and life quality indicators such as healthcare, 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 affordable countries for living and travel
1. Thailand
Noted for its affordability, Southern Thailand is recognized despite the country's status as one of the most visited in the world. Thailand boasts a vibrant agricultural sector and competitive industries, including textiles, electronics, and tin manufacturing.
2. Vietnam
Positioned on the eastern Indochinese Peninsula, Vietnam's economy traditionally relies on agriculture and significant bauxite mining. The country also garners substantial income from tourism, attracting millions of visitors annually.
3. Philippines
Comprising over 7,641 islands in Southern Asia, the Philippines is transitioning towards a service and manufacturing-based economy. Known for its appealing climate and low cost of living, it's a favored retirement spot for foreigners and a prime destination for diving and tourism.
4. Indonesia
As the world's largest archipelago state, spanning Southeast Asia and Oceania, Indonesia is the strongest economy in its region. Its economic backbone includes fishing, petroleum, timber, and a robust tourism sector driven by its rich natural and cultural heritage.
5. India
Home to one of the fastest-growing economies globally, India melds historical richness with modernity. Key economic sectors include services, telecommunications, chemicals, and software, contributing to its appeal as a low-cost, culturally rich destination.
In a related report, Immigrant Invest released a detailed list in April 2024, pinpointing the countries with the lowest monthly living costs globally, covering essentials like housing, groceries, and healthcare. Pakistan leads this list at $332 per month, with India also featuring prominently.
Top 10 countries with the lowest monthly living costs:
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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