The cost of living and the standard of living are two of the most important factors determining how long study abroad students stay in a particular location abroad.
Sometimes, the high cost of living can offset the advantage gained by studying at a low-tuition university or even no-tuition education. That is why it is essential to always know the living cost before choosing a study abroad program in a particular location.
Of course, if you are on a comprehensive scholarship that covers the living cost (or you have unlimited personal or private funding), you might not be bothered about the cost of living.
This study has produced exciting figures to help you determine the comparative cost of living in a different location. Though the study looked at 48 studies abroad countries US students prefer, the data could also be applied to students from other countries.
With data like this at your disposal, it would be easy to choose where to study abroad, vis-a-vis the funding or finances you can access.
Table of contents
How the Data was Compiled
The research done in 48 countries examined the cost of nine popular items. These items are the most likely things students would spend money on.
These items are:
- Rent and cost of Utilities
- Flight tickets
- Groceries and market
- Shopping for clothes
- Entertainment and recreation
- Cost of transportation
- Telephone and mobile phone bills
- Cost of Student visa
- Cost of eating in restaurants
Points (from 1 – 48) were assigned to each item based on the cost of each item. For instance, a score of 1 for rent and utilities means that a particular country has the cheapest rent and utilities. A score of 48 means that the location is the most expensive in rent and utilities of the 48 countries studied.
The average score for all the items was calculated. The table was then created according to the lowest to highest scores corresponding to cheapest to most expensive.
The Cheapest Study Abroad Countries
The study’s result shows that no particular region dominated for least expensive study abroad locations. For instance, Mexico in Latin America turned out to be the cheapest country, while India, in Asia, was the second cheapest destination.
The exciting thing about the table is that no developed country made it to the list of cheapest countries. Most countries in the cheapest countries list are dominated by developing countries.
However, South Africa, Russia, and Brazil are three countries with comparatively strong emerging economies that made it to the list of cheapest countries.
The top 10 cheapest countries to Study Abroad are Guatemala, Peru, Vietnam, Dominican Republic, Morocco, Kenya, Brazil, and Thailand.
List of Cheapest Countries to Study Abroad
- Mexico
- India
- Guatemala
- Peru
- Vietnam
- Dominican Republic
- Morocco
- Kenya
- Brazil
- Thailand
- Ecuador
- South Africa
- Hungary
- Cuba
- Russia
- Turkey
- Chile
- Taiwan
- Poland
- Costa Rica
- Czech Republic
- Greece
- Jordan
- China
Most Expensive Countries to Study Abroad
The most expensive Abroad locations show that most are in Western Europe, mainly in the north of Western Europe.
Six countries in Western Europe make it to Study Abroad’s top 10 most expensive countries. However, Singapore has the dubious distinction of being the most expensive destination to live in the world.
Surprisingly, the small nation of Bahamas also made it to the top 10 of the most expensive list. Apart from the Bahamas and Ireland, all the countries in the top 10 list in this group are major world economies.
In regions, even strong Asian countries like Japan and South Korea do not make the top 10 (except for Singapore). Africa, Ghana, and Tanzania made the list of the most expensive study-abroad destinations at 16th and 20th, respectively.
Remarkably, both African countries are more expensive to study in than Spain (23), South Korea (21), and Argentina (24).
List of most expensive countries to study abroad
- Singapore
- Switzerland
- Norway
- Australia
- Ireland
- United Kingdom
- Netherlands
- Bahamas
- Denmark
- New Zealand
- Belgium
- Israel
- Japan
- Sweden
- France
- Ghana
- Italy
- Germany
- Austria
- Tanzania
- South Korea
- Panama
- Spain
- Argentina
Conclusion
It’s usually easier to decide to study abroad when you have enough money to fund your education. However, we have leveled the playing field by writing this article.
I hope you find a school that suits your pursuit.
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