Expatriates' Dream Destinations: Countries with Superior Living Standards and Lower Cost of Living than the USA

While the United States boasts a high standard of living, many individuals are searching for countries with a superior quality of life and a more affordable cost of living. From Scandinavian havens to bustling economies, this article explores several countries that offer a better balance between living standards and cost.

Top Destinations by Standard of Living and Cost Efficiency

Sweden, Norway, and Canada

Sweden, Norway, and Canada are widely recognized for their top-notch quality of life. These countries excel in education, healthcare, job markets, and income equality. Not only do they provide a high standard of living, but they also offer a lower cost of living compared to the USA. However, for individuals seeking a more cost-effective option, several other nations can also be considered.

Eastern Europe and Beyond

Bulgaria: With a Human Development Index of 0.816 and a cost-effective cost of a 2-bedroom flat, Bulgaria is an attractive option for Americans looking for a more affordable yet high-quality living environment. Retirees may find particular joy in exploring the Bulgarian Black Sea Coast or the country’s scenic mountain regions. Bulgaria’s housing market presents a good opportunity for those who wish to build long-term residency.

Near and Far: Japan to South America

India

India's high Human Development Index (0.645) and its cost-effective 2-bedroom flat price (INR 85,539.21) make it an enticing destination for Americans seeking a balance between lifestyle and affordability. The country’s strong housing market data for the first half of 2022 suggests a stable and potentially growing real estate environment.

Belgium

Belgium, a European country with a population of over 11 million, may pique the interest of Americans looking to move abroad. Its robust housing market, as highlighted by financial services company ING, provides a promising backdrop for expatriates. A variety of visa options, including the Golden Visa, caters to different migration scenarios. The average cost of a 2-bedroom flat in Belgium (€201,582.28) presents a significant advantage compared to the USA.

Brazil

Brazil, the largest country in South America, has made the list due to its cost-effective 2-bedroom flat price (R$97,275.17). Remote workers from the USA might find Brazil appealing, given its high rankings in categories like leisure options, local friendliness, and ease of settling in. Despite some supply challenges, the housing market in Brazil continues to show growth.

Focus on Southeast Asia: Indonesia and Beyond

Indonesia

According to the InterNations Expat Insider 2022 report, Indonesia ranks as the second-best place for expatriates. Its cost-effective housing market (IDR 87,893.62 for a 2-bedroom flat) and its hosting of millions of visitors make it an attractive destination for those seeking a lower cost of living. The country’s vibrant culture and natural beauty also contribute to its appeal.

Sweden: A Niche Choice for Expatriates

Finland

Finland's high Human Development Index (0.938) and its cost-effective housing market (€270,699.66 for a 2-bedroom flat) make it a valuable addition to the list. The country's housing market, distinct from its peers, provides a unique balance between quality of life and affordability.

Mediterranean Greens and Beyond

Peru, Cyprus, and More

Peru, with a cost-effective housing market (USD 96,103.18 for a 2-bedroom flat), and Cyprus, with its attractive residency and citizenship opportunities, both offer expatriates opportunities to settle in scenic and economically vibrant regions. Other countries like North Macedonia, Romania, and the United Arab Emirates also offer a range of options, with Cyprus and the UAE standing out for their high cost-effectiveness and booming real estate markets.

Turkey: A Booming Market for Expatriates

Turkey, home to the historical city of Istanbul, presents a bustling real estate market with a significant rise in home sales to foreigners. While the cost of a 2-bedroom flat (USD 55,073.19) is still relatively low compared to the USA, the country’s diverse population and history create a unique expatriate experience.

Ireland: Emerald Isle and Beyond

Ireland, known for its natural beauty and vibrant culture, offers a high cost-effectiveness with its Human Development Index (0.955) and affordable 2-bedroom flat price (EUR 237,913.97). However, the imbalance between inventory and demand in the real estate market may pose challenges, making it vital for potential expatriates to carefully assess the market.

For individuals seeking a superior quality of life and a lower cost of living, these countries provide numerous options. By carefully considering factors such as housing costs, Human Development Index, and cultural fit, expatriates can find their perfect match in a new home away from home.

Keywords: living standards, cost of living, expatriate destinations