Expats Do Enjoy a Lower Cost of Living, Provided They Learn to Shop Smartly

Chuck Bolotin - TheStreet
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May 20, 2017


Mexico - International Living's Top Retirement Haven 2017 (International Living)

A study of expats in Latin America, "Expats: Expectations & Reality," found that 86.6% thought that they would achieve a lower cost of living by moving abroad. The study, which was conducted by Best Places in the World to Retire, also found that 84.2% did achieve a lower cost of living. A follow-up study, "Expat Reports: Is It Cheaper to Live Abroad?" reported that 34% spent less than half as much abroad as they did before.

Those numbers certainly underscore one of the great advantages of living in certain foreign countries. But what is the cause in those few cases when expats experience a higher cost of living?

The reports suggest that this group of expats is spending more on costlier items that are coming from the U.S. than on goods that are produced within the country. As long as they stick with local fare and services, they will pay less than they would in their own countries.

... Want to live well for much less abroad? You can, quite easily, just like the 84.2% in the survey who reported lowering their cost of living. Just purchase local goods and especially local services.

Read the rest at TheStreet

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