New survey reveals why Hungary could be the best choice for expats
Around a quarter of expats struggle with the cost of living in their new country, with this being one of the leading reasons for expats to return home. But which destinations are the least expensive for an expat?
The international health insurance experts at William Russell looked into various factors, including utility bills, fuel cost, and restaurant prices, to reveal the best and worst countries for your wallet as an expat.
The most expensive countries for an expat:
| Rank | Country | One-way Ticket (Local Transport) | 1 Litre of Petrol | Basic Utilities (Monthly) | Internet (60 Mbps or More, Unlimited Data, Cable/ADSL Monthly) | Fitness Club, Monthly Fee for 1 Adult | Cinema, International Release, 1 Seat | Meal for 2 People, Mid-range Restaurant, Three-course | Expat Expenditure Score /10 |
| 1 | Mexico | £0.46 | £0.93 | £46.06 | £20.32 | £25.21 | £3.45 | £30.66 | 0.67 |
| 2 | Lithuania | £0.85 | £1.23 | £175.28 | £11.64 | £30.93 | £6.82 | £51.17 | 2.23 |
| 3 | Poland | £0.87 | £1.27 | £217.73 | £12.36 | £27.71 | £5.77 | £35.82 | 2.23 |
| 4 | South Korea | £0.79 | £0.87 | £120.99 | £15.53 | £37.09 | £7.89 | £31.57 | 2.28 |
| 5 | Hungary | £0.94 | £1.27 | £107.36 | £14.87 | £37.85 | £6.27 | £37.60 | 2.55 |
| 6 | Slovak Republic | £0.85 | £1.32 | £192.75 | £15.18 | £32.79 | £6.99 | £34.12 | 2.90 |
| 7 | Spain | £1.28 | £1.32 | £111.14 | £25.20 | £34.12 | £6.82 | £42.65 | 3.13 |
| 8 | Portugal | £1.71 | £1.45 | £98.23 | £31.69 | £32.74 | £6.39 | £38.38 | 3.57 |
| 9 | New Zealand | £1.79 | £1.26 | £102.03 | £38.52 | £27.43 | £8.96 | £55.98 | 3.84 |
| 10 | Japan | £1.16 | £0.92 | £135.88 | £26.68 | £44.93 | £10.01 | £26.35 | 3.84 |
Mexico is the least expensive country in terms of the cost of living, with an overall score of 0.67 out of 10. The North American nation has the cheapest average utility bills and the cheapest gym membership on the list at £46.06 ($61.24) and £25.21 ($33.52) respectively.
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Lithuania, in the Baltic region of Europe, comes in second place, with an overall score 2.23 out of 10. The country has the cheapest average internet bill, at £11.64 ($15.47) per month. It also ranks in the top five for public transport costs, at £0.85 ($1.13) for a one-way ticket.
In joint second place is Poland. The country has the second-cheapest cinema tickets, at £5.77 ($7.67) and monthly internet costs at £12.26 ($16.43), and ranks third for its gym membership prices (£27.71/$36.84 per month).
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Further Study Insights:
- Switzerland has the highest cost of living, scoring 9.29 out of 10.Â
- Estonia takes the top spot as the country spending the most on the cost of living. Estonians spend around a sixth (14.7%) of their monthly income on essentials.
Read more about the life as an expat in Hungary.
Featured image: depositphotos.com