Forbes ranks Portugal as the cheapest place to live
According to Forbes, Portugal will be the most cost-effective country for Americans to live in by 2023. In an article titled “Quit Your Job And Move Abroad: 10 Cheapest Places To Live,” Forbes senior contributor Laura Begley Bloom examined International Living’s Annual Global Retirement Index to determine the best places to retire.
According to Bloom, “This List isn’t just for retirees” but rather for anyone seeking a better and more sufficient life. Even further down the list, she writes that some locations are “so cheap that you might not have to work.”
This year, Portugal takes the top spot “in part due to the strength of the US dollar today,” as well as Portugal’s visa options that allow for long-term stays.
The cost of living is relatively low compared to the United States, according to the Annual Global Retirement Index.
A couple can live comfortably on about $2,800 per month, while a single person could live very well on about $2,000 per month, according to the survey (less in rural areas).
The best places to move to Portugal were Lagos, Vilamoura, and Tavira, as well as the silver coast. Lisbon and Porto are also suitable options but they are a bit more expensive than the others.
The list from International Living includes categories like the cost of living, climate, visas, housing, healthcare, and more. However, it is more than just numbers and statistics because it includes input from real people living in these countries.
As a result of the current visa situation, Malaysia and Vietnam were not included on this year’s list despite their low living costs.