Yesterday we discussed the Cheapest Countries in the World and talked about how important it is to look at a lot more than just the cost of living when it comes to finding a nice place to live.
It's no surprise that some of the most dangerous and poorest countries hit the top of the 'cheapest list' but what is interesting and important to note is that if you scroll down the list just a little you ca find some real gems. Places where the cost of living is very low but also where culture, safety and standards of living are high.
From our cheapest countries list the first one to pop off the page is Paraguay. Paraguay makes the Top 10 Cheapest Places to Live list but it also makes some other lists too. This past year Bolivia, Panama, and Paraguay posted the largest economic improvement according to the 2010-2011 Global Competitiveness Index from the World Economic Forum. Reforms have helped these and other Latin and South American countries weather the global crisis while stimulating their growing economies.
Other countries that make the list of cheapest but have also become favorite hot spots for retiring baby boomers include Uruguay, Ecuador, Nicaragua and Panama. In these countries you can live on a little and you can live very well! Take in leisure pursuits on breathtaking golf courses which have so few players you don't even need to reserve a T-time. Savour gourmet meals in a world class restaurants. After all it will cost you about the same amount you would pay for bottled water and a small appetizer in a in an LA, New York, or London restaurant. In these countries fresh is fresh! Fruits and vegetables you pay way too much for in specialty organic stores in America sell at local markets in these countries for just pennies.
As for the Cheapest Place to Live while maintaining a high Quality of Life - Ecuador wins the spot. It may not be the absolute cheapest place but it certainly closes in the upper ranks. Add in high placements on the Best Places to Retire hit list each year for the past five years running and you've got a winner!