Forbes magazine has chosen Portugal as one of the 10 "cheapest" places to live. 

By evaluating the cost and quality of life in countries across the world, Forbes concluded that Portugal is the cheapest country in the world to live in - and also the best - especially for US citizens who want to leave their jobs and change their lives. 

The climate, security, low cost of living and ease of obtaining residence visas are factors that explain Portugal's first place on the list of the 10 cheapest countries to live in.

The Forbes list continues with Mexico and Panama occupying the second and third place, respectively and besides Portugal, there are also four other European countries in this ranking (Neighbouring Spain in sixth position, followed by Greece 7th, France 8th, and Italy 9th).  

This list, which is headed by Portugal, is based on data from International Living, and is not just for those looking to retire: "It’s for anyone who is looking for a better life, a more affordable life or just a way to escape from it all—the frenetic pace of life, the violence, the politics, the divisiveness.

“This list is also for people who are tired of the 9-to-5 grind and want to find the cheapest places to live in the world, countries where the cost of living is considerably cheaper than the U.S.—so cheap that you might not have to work”.

Regarding Portugal, the publication explains that the cost of living here is lower than in the USA. "It's a good time" to come to Portugal, says Jennifer Stevens, from International Living, cited by Forbes, justifying it with the "strength of the dollar".

“It wins in part because of the strength of the U.S. dollar today. It’s a timely pick—because Europe is effectively on sale if you’re shopping with greenbacks. It’s a good time to go,” says Stevens. “Beyond that, Portugal’s visa options make staying there long-term relatively easy.

“The day-to-day cost of living is low compared to the States—a couple can comfortably cover expenses (including rent and everything else) for about $2,800 a month,” says Stevens. “A single could live well on about $2,000 a month, all in (less in more rural areas).”

In addition, she adds that it is foreseeable that cities like Porto and Lisbon will become more expensive, but she leaves three suggestions for those who want to move here while still keeping to a modest budget: “Big cities like Lisbon and Porto are going to cost more, smaller towns less,” says Stevens. “A few spots to consider in Portugal: Lagos, Vilamoura, and Tavira”.

Copyright: The Portugal News and Idealista.pt