One of the most important aspects of living abroad as an expatriate is determining what your cost of living will be. The reason for this is that the cost of living that you will experience is going to determine a great deal regarding your job prospects and which job you should ideally take in order to have the best possibility of saving money while abroad. One way to greatly mitigate this inconvenience is to utilize a money transfer company in order to save a great deal of capital when you have to move money between currencies. By doing this, you will save substantially on your currency transfer transactions and put your profit towards your living allowance. As you search for jobs abroad, consider this list of the cheapest and most expensive places to live as an expatriate:
Cheapest Places to Live as an Expatriate:
Thailand is one of those gem that every expatriate dreams of. If one is able to obtain a job that pays standards of a developed country, Thailand can be a lucrative choice for the expatriate. If you are able to find a great job in Thailand, you will not only be able to save a great deal of money, but also will be able to afford to live very well and enjoy the sensational Thai cuisine by eating out all time since your budget will allow for it!
Uruguay is so friendly to expatriates and if one is lucky and either goes there after making their money or gets a great job there, they are truly set. Uruguay has always been my top choices for value of money invested and overall quality of life. For those expatriates looking to relocate their families, Uruguay also provides a wonderful upbringing that is back to the old traditional way that is not seen in many parts of the world anymore. Thus, do not leave Uruguay out of your options list because it is truly a hidden gem.
If you are able to go to Portugal after making your money or are hired for an employment opportunity there, you will be able to live very well. Additionally, Portugal is currently undergoing a recession, which is good for expatriates who are coming there with money because you will live even better while spending less money. Portugal has a great charm and offers a splendid quality of life for those who embrace it.
Most Expensive Places to Live as an Expatriate:
Hong Kong is surely one of the most wonderful cities in the world; however, what makes Hong Kong so expensive is that the city basically has a shortage of real estate due to its limited space. Thus, getting into an apartment building in Hong Kong is quite expensive. Real estate aside, there is a way to live on the cheap in Hong Kong if you stick to the local food locales; however, for the expatriate who truly wants to experience Hong Kong, they are going to have to prepared to bring a hefty wallet because the ultimate Hong Kong experience does not come inexpensive. That being said, if you get one of those sophisticated expatriate jobs that is paying you what you need to live well in Hong Kong, absolutely go! You will have a wonderful experience that you will cherish for the rest of your life.
Singapore is on a similar scale to Hong Kong in that it is just expensive to live there. Singapore, arguably, is even more expensive than Hong Kong because it has expensive food and accommodations. Thus, in order to live well in Singapore as an expatriate, one has to carefully budget to see if they will be making enough to do well there and still get to experience the fascinating culture that exists there.
London is one of the most expensive cities to live in because of the plethora of foreigners buying up the real estate. Additionally, the cost of living with relation to food is quite expensive in London. Thus, be sure that your salary is sufficient in London to live well.
Thus, it is wise to consider all aspects of your living costs when considering moving abroad in order to determine which locale is the right fit for your individual situation.