Top 16 Cheapest Countries in 2024

Are you thinking of what are the cheapest countries to visit this year with your friends or family? Then, the first thing you should determine is the country's cost of living. And to do so, you need to compare the basic goods costs of that country with those in a baseline location. In this case, you should know that the cost of living means the amount of money required to live comfortably in a location; for instance, the amount of money needed to spend on housing, groceries, taxes, and healthcare. 

There are a few nations where the cost of living is very high, mainly in areas which surround the large cities. New York and San Francisco are some of these cities in the US where the cost of living is very high. On the other hand, some areas where the cost of living is affordable are rural Mississippi, Kansas, and Oklahoma. In this article, we have covered some countries where the cost of living is very low and are ideal destinations for retired people & those who want to make their trips at low cost. Let's dive into the article to find out the cheapest countries in 2024.

Top 16 Cheapest Countries In 2024:

1) Hungary:

1 USD = 351.21 HUF

If you are planning to make a trip to one of the cheapest countries, Hungary is the ideal destination. The favorable economy of this country allows the tourists from across the globe to make a trip to Budapest within their tight budget. The high-tech spas and Michelin-starred restaurants of this city are one of the main reasons that make the tourists visit here again and again. 

Last year, in November, Budapest celebrated its 150th anniversary. If you come here, make sure that you visit the brand-new House of Music Hungary and the newly reopened Chain Bridge. You can book a room at the Art Deco W Budapest. Located opposite the Hungarian State Opera, it opened last year in July month. B

2) Azerbaijan - The Land of Fire:

This country is known as "The Land of Fire." Located at the crossroads of Europe and Asia, this nation is named after its old Zoroastrian roots. When you visit this place, you will be mesmerized by witnessing the architectural masterpiece — Heydar Aliyev Center- which Zaha Hadid designed. While the futuristic design of it incarnates modern Azerbaijan’s spirit, it is a cultural hub that showcases awe-inspiring art, design as well as innovation.

3) South Korea:

1 USD = 1,301.45 KRW

Mokpo, one of the South Korean cities, is situated in the Jeolla area, which is located at the southern tip of the peninsula. If you are a food lover and want to experience some of the most interesting dining experiences, then you should definitely make a trip here. Hongeo is one of the special dishes that you should definitely give a try. It is a skate-fish dish fermented naturally. If you come here, don't forget to visit Seoul Tower to enjoy the mind-blowing view of South Seoul. To make your trip memorable, you are able to wander around Gyeongbok Palace.

4) Kazakhstan - The Land of the Wanderers:

The largest landlocked country in the world is Kazakhstan, which is located in Central Asia and Eastern Europe. It covers around 2.7 million Km² area, making it the 9th largest nation worldwide. Nur-Sultan is the capital of this country. Previously, it was called Astana, which is a mix of modern as well as historic cities. If you want to explore the historical sites, you should visit Shymkent, which is one of the oldest cities of Kazakhstan. In addition, you can make a trip to Karaganda and visit the KarLag Museum. Do you want to witness the cultural heritage of this country? Then, you can visit Aktobe Regional Museum, which is located in Aktobe, in western Kazakhstan.

5) Mexico:

1 USD = 17.22 MXN

If you love to travel to different places throughout the year, then you must keep Mexico on your bucket list. Mexico City is one of the affordable places where you can experience a street food culture and spend most of the money on eating food. However, ensure that you are not spending all your money here. You need to save some of your money so that you can witness the city's cultural wonders, like the iconic Museo Jumex. In addition, to make your trip more memorable, you can go to Jalisco and enjoy the preparation of tequila. Or, you can go to Isla Holbox to have a sleepy beach experience.

6) Mongolia:

1 USD = 3,449.69 MNT

Mongolia is famous for its adventure camps. To travel here, you only have to spend near about $75 every day, and this cost includes accommodations. This nation is working on its mission to lure more and more tourists to visit here, like taking the initiative of offering the first direct US flights and allowing nationalities to travel without visas. So, it is expected that the country will offer more offbeat cultural experiences in the future.

7) Vietnam:

1 USD = 24,275.00 VND

It is located in Southeast Asia. From islands, and forests to religious places, Vietnam nestles a lot of mesmerizing destinations to explore. This country is called the paradise of street food, where you can experience traditional rice noodle soup, rice crepes, and beef noodles. If you are someone who has a tendency of bargaining, then you should definitely visit the floating markets. Whether the largest cave of Asia or the Halong Bay, there are uncountable things in this country that will make you spellbound.

8) Austria:

People who want to make their trips to any European country can choose Austria. The beautiful lakes and mountains surrounding the nation will make you hypnotized. This country's cultural treasures ensure that tourists can get a special as well as unique travel experience. However, compared to other countries, it is a little expensive. 

But you can complete your total journey within your budget by making proper plans and booking everything in advance, like where you will stay and so on. To make your trip memorable, don't miss to visit the mountain villages. Do you want to make your trip more adventurous? Then, don't forget to enjoy hiking in the Alps. Besides, you can attend the concert hosted at the Hofburg Palace complex. If you are visiting here in winter, you are capable of exploring sports activities. Besides, to make your trip more enjoyable, you can book a salt mine tour.

9) Brazil:

1 USD = 4.94 BRL

Brazil is an ideal destination for those who want to make a trip this year within a budget-friendly price range. If you want to spend some time with your loved ones, then you should visit Rio de Janeiro. You can find here some incredible restaurants which are located within a small distance from the world's best beaches. Lasai is one of those restaurants that was a 2023 Hot List winner. Ensure that you are not forgetting to make a trip to São Paulo, where you can find museums, hip galleries, and bars.

10) Sri Lanka:

1 USD = 327.31 SLR

It is a beautiful island nation where you can find several things to explore. When you visit here, you will be amazed by the scenic beauty of leafy tea plantations. Besides, the golden beaches, and Buddhist temples will make you spellbound. Whether exploring the beaches or temples in this country or enjoying hiking in the Pekoe Trail, which is 200 miles long — everything can be done in a single trip, which will help you to create unforgettable memories.

11) Croatia:

If you are someone who doesn't want to spend a lot of money on your trip, then Croatia is a good option. This country is adorned with a breathtaking Adriatic coastline. Croatia is a country of beautiful architecture and rich history. If you want to make a trip to the affordable cities in this nation, you should visit Slavonski Brod, Dubrovnik, and Zagreb. Based on your budget, it is possible to explore some accommodation options. To make your trip memorable, you can go to the Dalmatia beaches. If you want to explore underwater museums, you can enjoy scuba diving. 

12) Latvia:

This nation's ranking in the WJP Rule of Law is 23. According to the report, the security level of the country is high. It indicates that the law and executive authorities protect the properties and population properly. Apart from that, this country has a decent education as well as a healthcare system. The average monthly living cost here is $1,002. This price is not so much like other European countries. For instance, $1,405 is Italy's average cost of living, whereas, for France, it will be $1,554. If you want to explore the history of this country, make sure that you are visiting the Latvian Occupation Museum. Besides, you can visit the Gauja National Park. To make your trip adventurous, you can walk through Gutman's Cave, which is the largest cave in the Baltics.

13) Chile:

Constraints of government powers are the most important factor in this country. So, the law binds those who govern and are unable to abuse the power. In this nation, $1040 is the cost of living.  If you come here, you should visit the beautiful Torres Del Paine National Park and enjoy hiking as well as trekking. In addition, you can visit the Valle de la Luna And The Atacama Desert. Do you want to enjoy fun activities or shopping and try some delicious foods in the best restaurants? Then, you should visit Santiago, which is the entertainment center of this country.

14) Costa Rica:

1 USD = 525.96 CRC

It ranks 27th in the safest category and values people's fundamental rights. It indicates that people living in this country do not have to face discrimination based on gender, social status, ethnicity, etc.

The living cost of this country is around $1,073 per month to spend on transportation, food, utilities, etc. Apart from the affordable living cost, the friendly immigration laws of Costa Rica draw the attention of foreigners. Additionally, Costa Rica grants special visas to retirees, digital nomads, and freelancers. If you want to get permanent residency in this country, you have to live here for three years continuously.

15) Philippines:

1 USD = 55.89 PHP

This country boasts 7000 tropical islands that will make you mesmerized. The scenic beauty of the Maroon slick of sand on the oceans will leave you spellbound. In addition, you can explore the hidden lagoons where sun worshippers and divers go camping to spend the night on the Palawan coastline. It is a great spot for kayakers, Boracay, and kiteboarding. Siargao and Palawan are two beautiful places that are very economically accessible. You only have to spend under $350 every night to pre-book five-star resorts here like Shangri-La Boracay.

16) Indonesia:

Among the list of the cheapest countries in 2024, the last one in our list is Indonesia. The immense natural beauty of this country attracts tourists from all over the world. This nation is located between the Indian and the Pacific Oceans. Visiting here, while you will be amazed by the beautiful blue waters, the marine life of this island nation will leave you spellbound. You can find many romantic resort options in Bali. It is an ideal destination for those who are willing to make their honeymoon trips at an affordable price range. 

The Bottom Line:

If you are planning to make a trip, you need to consider several factors like the cheapest places to travel, safety of the place where you want to visit, hotel options, etc. However, among all these factors, budget is the key aspect that can influence travel decisions. In this article, we have given the cheapest countries in 2024. So, just choose any of these destinations according to your budget and set off for your favorite destination.