The cost of living in the U.S. has been increasing in the past few months due to inflation and rising rates. So it’s no wonder some Americans are looking for greener (and cheaper) pastures overseas, and many are setting their eyes on the Old Continent.
While living in Europe can be very pricey in some instances, some destinations on the other hand have such a low cost of living — as well as cheaper healthcare and housing — they could enable you to quit your job.
In terms of cost of living, Montenegro is currently 65% less expensive than in the U.S. at $775, compared to $2,213. It is also ranked 113th vs. 5th for the United States in the list of the most expensive countries in the world, according to LivingCost.org. In addition, rent in Montenegro is 67% cheaper than in the U.S., according to Numbeo.
And, it also has a very low tax rate, making it even more appealing, according to Worldpackers.com.
The country, which borders Croatia, Bosnia, Serbia, Albania and Kosovo, is “so small you could drive across it in an afternoon,” according to Montenegro.travel.
Yet, for such a small country, it has a very diversified landscape, ranging from stunning beaches to mountains and lakes. Some of the popular places include the Bay of Kotor, Lake Skadar National Park, Budva and the Adriatic coast.
The average cost of living in Romania — at $713 — is 68% less expensive than in the United States. The country ranked 125th in the list of the most expensive countries in the world, according to LivingCost.org. As for rents, they are a whopping 78.6% lower than in the U.S.
The country borders Bulgaria, Moldova, Serbia and Hungary and has a coastline on the Black Sea. About one-third of the country consists of the Carpathian Mountains — also known as the Transylvanian Alps — which also have popular ski resorts such as Brasov, Sinaia and Predeal, according to RomaniaTourism.com
The country’s places of interest include its bustling capital, Bucharest, Sighisoara medieval citadel (where Dracula’s castle sits), the Black Sea with wide sandy beaches and, of course, the Danube River and Delta, which is a UNESCO Biosphere Reservation as well as a protected wetland and natural habitat for rare species of plants and animals, RomaniaTourism.com adds.
The average cost of living in Portugal — at $1,073 — is 52% less expensive than in the U.S., according to LivingCost.org. And the rents are half as cheap as well, Nymbeo notes.
From bustling Lisbon and its trams to Porto and its centuries-old architecture, the country can be enchanting to many. It also has a mild climate, 3,000 hours of sunshine per year and miles of beaches on the Atlantic Ocean. Popular destinations include Porto, Lisbon and, if you’re into golf, Algarve.
The Azores islands are also very enticing, with waterfalls, geysers and one of the largest whale sanctuaries in the world.
The average cost of living in Hungary — at $860 — is 61% less expensive than in the United States. As for rents, they are 78% lower than in the U.S.
Located in central Europe, Hungary is landlocked but is home to Lake Balaton, the largest in central Europe. Its capital, Budapest, is rich in history, architecture and culture.
The country is also known for being the “land of thermal spas” and also has approximately 1,500 mineral springs.
The average cost of living in Malta is a bit more expensive than the countries mentioned previously, but at an average of $1,340, it is still 39% less expensive than in the U.S., and rents in Malta are, on average, 42.8% lower than in the U.S.
Malta has been attracting a lot of expats recently and it’s no wonder why with its crystal-clear turquoise waters and rich history.
The Maltese Archipelago is in the middle of the Mediterranean, and only the three largest islands — Malta, Gozo and Comino — are inhabited.
Malta’s capital Valletta, is a lively, bustling city. For history and archeology buffs, there are numerous forts to explore, as well as one of the world’s best-preserved prehistoric sites, the Hal Saflieni Hypogeum, a UNESCO World Heritage site.
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