Do you want to live abroad? These are the most affordable countries in Europe for 2024!
People move abroad for many reasons to start a new job, to be closer to family or simply to explore a new country. But as the cost of living crisis continues, the search for a cheaper lifestyle is becoming the number one reason for a move.
With gas prices expected to rise this winter, some Europeans may consider flying south, cutting heating bills by escaping to warmer climes. While the outcome of the US election may cause Americans to look abroad for free health care.
The Numbeo cost of living index collects data for every country in Europe. It accounts for average rent, the cost of groceries, and the price of utilities and entertainment. Cost of living isn't the only consideration before a move, of course. Safety and other quality of life considerations are also important.
Montenegro boasts medieval towns, glacially cold lakes, the second deepest canyon in the world and extremely low prices. Numbeo gives the country a rating of 39.4. By comparison, Switzerland, Europe's most expensive destination, has an index of 101.1.
These indexes represent a percentage of the destination's cost compared to New York City, the base of the search engine. So prices in Montenegro are about 39.4 percent of prices in NYC, while prices in Switzerland are 1.1 percent higher than in the Big Apple. Digital nomads can apply for a two-year visa for Montenegro, with the possibility of a two-year extension.
Prices in the capital of Montenegro, Podgorica:
· Free meal: €8
· A beer: €2.20
· Monthly rent of a one-bed apartment in the city center: €545.
Portugal with its sunny beaches and bustling cities is Europe's most popular digital nomad destination. Numbeo gives Portugal a cost of living index score of 45.1. Under the country's digital nomad scheme, remote workers can live and work in the country for up to 12 months. To qualify, applicants must earn at least €3,280 per month, four times Portugal's minimum wage.
Prices in the capital of Portugal, Lisbon:
· Free meal: €12.75
· A beer: €3
· Monthly rent for a one-bed apartment in the city center: €1,413.
Sunny Croatia is slightly more expensive than Portugal, with an index of 45.5. Beachside cities like Split and Dubrovnik, famous for Game of Thrones filming locations, drive up average costs. But the Balkan country is still a low-cost option for expats. Croatia began offering special visas to digital workers from outside the European Union in January 2021, allowing them to stay for up to a year and exempting them from income tax.
Prices in the capital of Croatia, Zagreb:
· Free meal: €10
· A beer: €3
· Monthly rent of a one-bed apartment in the city center: €682.
Lithuania is also popular with digital nomads especially the youth capital Vilnius, which boasts an abundance of co-working spaces. Numbeo gives it a rating of 47.1. Prospective immigrants can apply for a 'National D' visa which is valid for up to one year.
Prices in the capital of Lithuania, Vilnius:
· Free meal: €12
· A beer: €4.50
· Monthly rent of a one-bed apartment in the city center: €743.
What do locals think of digital nomads?
Low prices are great for digital nomads but can have a negative impact on local communities, which suffer from subsequent price inflation and housing crises. It is worth noting that the average monthly salary in Podgorica is €836, about a quarter of the average monthly salary in London.
Before moving abroad, do your research on how locals feel about immigrants and how you can ethically support the communities you join. Learning the local language is a very good first step, especially since you can start before you even arrive in the country. Also familiarize yourself with local customs. Not only will this mean you feel more included, but it will also help ensure you don't accidentally offend anyone.
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