Explore the latest global cost of living ranking. Compare countries from the cheapest to the most expensive and discover the best places to live or travel.

In times of economic crisis, we often consider moving to another country for a better life. This is not an easy choice, though, and for several reasons. Leaving behind friends, family, and everything we know is challenging. There are a lot of things to consider. For example, how about the cost of living? Will it be lower or higher than in my country? In a previous post, I talked extensively about leaving everything behind and changing life (like I did). There, you’ll find some helpful information to take this important step.

Everyone has to decide based on their own circumstances, but if you want data to help you understand which countries are cheaper and which are more expensive, you need to do a lot of research, taking into account factors such as the cost of living, crime, and pollution.

To write this article, I used Numbeo, which ranks countries based on the average cost of food, transportation, restaurants, utilities, rent, and so on, assigning a score to each country. The reference point is New York City, which is given a score of 100. If, for example, a city or country has a score of 70, it means that, on average, it is 30% cheaper than New York. Scores above 100 indicate cities or countries that are more expensive than New York.

As these data are at the country level, not the city level, remember that even if a nation’s average score is high, some cities in that country may not be that expensive.

This ranking only gives a general idea of the cost of living. Furthermore, the cost of living is only one factor to consider before moving abroad. One thing that is very important to me is the level of pollution (here is the ranking of the most polluted cities in the world), the climate during the year, the quality of the health care system, and the local purchasing power. This last factor shows how good life is for local people.

Poorer countries tend to have a very low purchasing power. If you travel there, you’ll have the impression that life is cheap, but it could be VERY expensive if you work as a local. This changes if you have special skills, but you get the idea.

You can check more details on this page, which is where the data actually comes from.

The cost of living in China

China (here’s my travel guide) ranks quite low: 126th place. Since I’ve been living in this country for a while now, I can confirm that it is certainly not among the most expensive countries in the world for expats. Considering only the local purchasing power, China has a cost of living similar to Italy.

However, prices are high, especially in individual cities such as Beijing, Shanghai, and Shenzhen. To give you an idea, rent in downtown Beijing (about 80 square meters) is around 2000€ per month, and rent in China is usually paid three months at a time (in some cities, six months at a time).

If you move to a province like Guizhou, rents in its capital, Guiyang, are 5 times lower. So, the difference between cities in China is much more pronounced than in other countries, although the gap is closing rapidly.

What’s the cheapest country you’ve been to? And the most expensive one? Let me know in the comments.

If you’re thinking about changing your life, here are some ideas for becoming a digital nomad and supporting your trips by selling your pictures. Here are my tips for what to see and what to do in Singapore, one of the world’s most expensive and beautiful cities.