Want to move abroad? These are the most affordable countries in Europe in 2024

Portugal has lower cost of living than many countries in Europe. Where else can expatriates get the best bang for their buck?

People move abroad for many reasons - to start a new job, to be closer to family or simply to explore a new country.

But as the cost of living crisis continues, looking for a cheaper way of life is becoming the number one reason for a move.

With gas prices expected to increase this winter, some Europeans might be considering flying south, cutting heating bills by fleeing to warmer climes. While the US election result may have Americans eyeing free healthcare abroad.

So where are the most affordable places to move - and what do locals think of an influx of comparatively wealthy travellers?

Most affordable places in Europe for cost of living

Cost of living index Numbeo collates data for every country in Europe. It accounts for average rent, cost of groceries, and the price of utilities and entertainment.

Cost of living is not the only consideration before a move, obviously. Safety and other quality of life considerations are also paramount.

Here are four locations that strike the balance.

Montenegro is perfect for rugged mountains and medieval villages

Montenegro boasts medieval cities, ice cold glacial lakes, the world’s second deepest canyon - and extremely low prices.

Numbeo grants the country a rating of 39.4. For comparison, Switzerland - Europe’s most expensive destination - has an index of 101.1.

These indices represent a percentage of the destination’s cost compared to New York city, the search engine’s baseline. So prices in Montenegro are around 39.4 per cent of prices in NYC, whereas prices in Switzerland are 1.1 per cent higher than in the Big Apple.

Digital nomads can apply for a two-year visa for Montenegro, with the possibility of a two year extension.

Prices in Montenegro’s capital, Podgorica:

Cheap meal: €8

Pint of beer: €2.20

One-bed flat in city centre monthly rent: €545

Portugal's bars and beaches are a big draw

Portugal - with its sunny beaches and buzzing cities - is Europe’s most popular digital nomad destination.

Numbeo gives Portugal a cost of living index score of 45.1.

Under the country’s digital nomad scheme, remote workers can live and work in the country for up to 12 months. To qualify, applicants must earn at least €3,280 per month - four times Portugal’s minimum wage.

Prices in Portugal’s capital, Lisbon:

Cheap meal: €12.75

Pint of beer: €3

One-bed flat in city centre monthly rent: €1,413

Croatia's national parks and ancient palaces

Sunny Croatia is slightly more expensive than Portugal, with an index of 45.5. Beachside cities like Split and Dubrovnik - famed for its ‘Game of Thrones’ filming locations - bring the average costs up. But the Balkan country is nonetheless a low-cost option for expats.

Croatia started offering special visas to digital workers from outside the European Union in January 2021, allowing them to stay for up to a year and exempting them from income tax.

Prices in Croatia’s capital, Zagreb:

Cheap meal: €10

Pint of beer: €3

One-bed flat in city centre monthly rent: €682

Lithuania, for up and coming cities

Lithuania is also popular with digital nomads - particularly youthful capital Vilnius, which boasts an abundance of coworking spaces. Numbeo gives it a rating of 47.1.

Would-be expats can apply for a 'National D' visa which is valid for up to one year.

Prices in Lithuania’s capital, Vilnius:

Cheap meal: €12

Pint of beer: €4.5

One-bed flat in city centre monthly rent: €743.

What do locals think of digital nomads?

Low prices are great for digital nomads - but can have a negative impact on local communities, who suffer from subsequent price inflation and housing crises.

It’s worth noting that the average monthly salary in Podgorica is €836 - around a quarter of London’s average monthly salary.

Before moving abroad, do your research into how locals feel about expats, and how you can ethically support the communities that you join.

Learning the local language is a very good first step, especially as you can start before you arrive in the country. Also acquaint yourself with local customs. Not only will this mean that you feel more integrated, but it will also help to ensure you don’t accidentally offend anyone.