Thinking of working abroad? Check out the world's most expensive and cheapest countries for living costs

For those who feel that a short holiday isn't enough to satisfy their dreams of living abroad, moving for work might be the perfect solution. Check if your company offers relocation opportunities or long-term sabbatical leave that could allow you to experience life overseas.

If you're ready to take the leap, some may opt for a Gap Year or what’s known as "Micro-retirement" to take a break from their regular job while searching for work abroad. However, beyond salaries, one of the most important factors to consider is the cost of living in the country you're planning to move to. Moving to a country with high living costs could unexpectedly become a burden.

Recently, international health insurance company William Russell compiled a survey on the cost of living across different countries, including transportation, utilities, and entertainment costs, to help people decide which country might be the best fit for their new life abroad.

The 3 most expensive countries for expatriates

Switzerland, Iceland, and Norway are the top three countries with the highest cost of living for expatriates. If you're offered a job in one of these countries, make sure the "compensation package" from your company aligns with the cost of living, as expenses in these countries might be higher than expected.

Additionally, it’s important to evaluate your own lifestyle costs — whether you'll be driving a private car or using public transport, dining out or cooking at home, as these details can significantly impact your overall expenses.

Switzerland: The most expensive in the world (9.29/10)

Switzerland tops the list of the most expensive countries to live in, according to William Russell, with an overall cost of living score of 9.29 out of 10. This Central European country has the highest average gym membership cost at $87.40 per month and the priciest cinema tickets at $24.13 per ticket. Additionally, Switzerland ranks second globally for the highest public transportation fares, with an average ticket starting at $4.10 per trip.

Iceland: The second most expensive in the world (8.48/10)

Iceland ranks second for the highest cost of living. The country has the most expensive public transport system in the world, with a single journey costing $5.01. The monthly internet cost is also the highest, averaging $80.36, and dining out averages $136.95 for two people. However, Iceland does have the cheapest utilities in the world according to this report.

Norway: The third most expensive in the world (7.72/10)

Norway takes the third spot for the highest cost of living globally. This Scandinavian country has the third-highest public transport costs at $3.99 per trip. Additionally, meals out are the fifth most expensive worldwide, averaging $95.02 per meal, and the average monthly internet cost is $58.82.

3 Countries with the Cheapest Living Costs for Expats

Mexico tops the list as the country with the lowest cost of living for expatriates, followed by Lithuania and Poland, which share the second spot. If you’re considering relocating for work, these countries may provide an affordable alternative for your next career move.

Mexico: The cheapest in the world (0.67/10)

Mexico has the lowest cost of living, with a score of 0.67 out of 10. This North American country has the cheapest average monthly utilities at $61.24 and the lowest gym membership costs at $33.52 per month.

Lithuania: The second cheapest in the world (2.23/10)

Lithuania, located in the Baltic region of Europe, ranks as the second cheapest country for expatriates. It has the lowest average internet costs and ranks among the top five for public transport costs, giving it a total score of 2.23 out of 10.

Poland: The second cheapest in the world (2.23/10)

Poland, a neighbouring country to Lithuania, shares the second spot for the lowest cost of living. It has the second cheapest cinema tickets and affordable internet costs.

How to start working abroad

If you’re serious about advancing your career internationally, start by inquiring about potential opportunities within your current company. Many businesses offer the possibility of regional transfers, often easier than you might think. Simply express your interest and follow the correct internal relocation procedures.

Check your company's internal job board to see if they have offices abroad and if your position exists in your target country. Find out who has decision-making authority and seek help from your manager, such as requesting guidance or asking them to introduce you to someone at the overseas office.

If you're required to interview with an overseas team, make sure to prepare by researching cultural differences in working styles between the headquarters and the target office. Also, plan for a smooth transition of your current work to avoid disrupting your team and manager.

If there are no overseas opportunities within your company, you could negotiate long-term leave or consider finding a role that allows you to work remotely, and relocate independently.

Starting a new job abroad has become much easier than in the past, thanks to online platforms like LinkedIn, which allow you to build networks internationally without having to physically relocate. You can begin by researching target companies, learning about key executives, joining regional professional networks, or studying the labour trends in your destination country. This will help you position yourself effectively to land a job.

Popular countries for Digital Nomads

Another option is to change both your job and career path by becoming a Digital Nomad, working from anywhere in the world. According to a survey by Hotelwithtub, Bangkok, Dubai, and London rank as the top three cities popular among digital workers.

The criteria used for this ranking include safety, cost of living, and the rate of repeat visits by nomads.

If this route interests you, list the key factors you want in a target city (such as good internet, low costs, or activities you enjoy) and consider whether your skills can translate into freelance work or starting a business abroad.

If you’re ready, start planning! The world offers plenty of space for growth — all it takes is the courage to venture out!