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How Cost of Living Changed Across 129 Countries (2009-2026)

Most cost of living comparisons give you a snapshot. A single number for a single moment. That is useful if you are booking a two-week vacation. It is almost useless if you are planning where to live for the next year.

At NomadFast, we have assembled 18 years of Numbeo cost indices across 129 countries -- from 2009 through 2026. This is not a quick-glance infographic. It is a longitudinal dataset that tracks how the economics of every major nomad destination have shifted over nearly two decades of currency fluctuations, inflation cycles, pandemics, and geopolitical upheaval.

Why does this matter? Because the country that was a bargain in 2015 might be expensive today. The country everyone warns you about getting pricey might have actually gotten cheaper in real terms. And the patterns in this data reveal which destinations are trending in your favor -- and which are trending against you.

No other site in the digital nomad space publishes this kind of time-series cost data. NomadList gives you today's numbers. Numbeo gives you raw indices without context. We connect the dots across 18 years so you can see where things are heading, not just where they are.

All figures in this article use the Numbeo Cost of Living Index, where New York City = 100. A country with an index of 20 means living there costs roughly 80% less than NYC. Lower numbers mean cheaper living.

Global Trends at a Glance

Before diving into individual countries, here is the big picture. We averaged the Cost of Living Index and Rent Index across every country in our dataset for each year.

The trend is clear: the global average cost of living relative to NYC has dropped from 46.0 in 2009 to 19.6 in 2026. That is a 57% decline in relative cost.

Several forces drive this. The US dollar strengthened significantly against most currencies over this period. Emerging economies that were once closer to Western price levels have seen their currencies depreciate. And the dataset itself expanded from 36 countries in 2009 to 129 in 2026, incorporating more low-cost nations that pull the average down.

The rent index tells a parallel story, dropping from 65.8 to 35.5 -- a 46% decline. Rent in most countries became dramatically cheaper relative to New York over the past 18 years. For digital nomads earning in USD or EUR, this translates to significantly more purchasing power abroad than a generation ago.

The most striking inflection point was 2019-2020, when the global average hit its lowest point at 18.7. The pandemic weakened many currencies against the dollar while suppressing local prices. Since then, there has been a modest rebound to 19.6, suggesting the most extreme bargains have partially corrected.

Digital Nomad Hotspots: 18 Years of Data

Let us look at how the eight most popular digital nomad countries have changed since our data begins.

Thailand

Thailand's overall cost of living index dropped from 24.49 to 13.90 over 18 years -- a 43% decline in relative cost. The baht weakened from around 34 to the dollar in 2009 to over 36 in 2026, and the US dollar's broader strength amplified this effect.

The key insight for nomads: while rent and groceries have become relatively cheaper, restaurant prices have risen significantly from 33.42 to 45.50. This reflects a real shift in the dining landscape -- Bangkok and Chiang Mai's restaurant scenes have moved upmarket, and tourist-area pricing has climbed. Street food remains a bargain, but sit-down restaurants increasingly charge prices that reflect international tourism demand.

The best value window was 2024-2025, when the index bottomed at 11.93-12.35. The slight uptick to 13.90 in 2026 suggests the bottom may have passed.

Explore cities in Thailand →

Portugal

Portugal tells a story of two eras. From 2009 to 2015, the Cost of Living Index nearly halved from 36.41 to 18.29 as the euro crisis crushed the currency and Portugal's economy contracted. This was the golden era for Lisbon-bound nomads. Then the recovery began.

Since 2017, the index has been climbing back. The 2026 reading of 25.21 is still 31% below 2009 levels, but the upward trajectory is unmistakable. Rent, after crashing from 68.12 to 33.23, has crept back to 38.29. Restaurant prices have surged to 66.39 -- the highest among all eight countries profiled here, and 61% higher than in 2009.

The message is clear: Lisbon is getting more expensive, especially for dining out. If you are targeting Portugal, every year you delay costs you more. The days of Lisbon as a budget European capital are ending.

Explore cities in Portugal →

Colombia

Colombia's cost trajectory is one of the most dramatic. The index fell from 19.85 in 2009 to a low of 7.02 in 2023 -- a 65% decline. This was driven almost entirely by the Colombian peso's collapse against the dollar, falling from around 2,200 COP/USD in 2009 to over 4,600 COP/USD in 2022-2023.

The 2023 bottom at 7.02 represented perhaps the best value Medellin has ever offered to dollar-earning nomads. Since then, the index has rebounded to 10.87 as the peso partially recovered. Restaurant prices have climbed to 39.94, reflecting both the nomad influx in cities like Medellin and Cartagena, and genuine local inflation.

For budget nomads, Colombia remains extraordinarily affordable. But the trend since 2023 is upward, and the rapid peso swings mean your purchasing power can shift 20-30% in a single year based on currency movements alone.

Explore cities in Colombia →

Mexico

Mexico shows the most significant rebound of any country in our nomad hotspot analysis. After bottoming at 8.37 in 2017 -- when the peso hit historic lows against the dollar following political uncertainty -- the index has more than doubled to 17.81 in 2026.

This is not just currency movement. Mexico City has experienced genuine gentrification in neighborhoods like Roma, Condesa, and Juarez, driven partly by the influx of remote workers from the US. Rent has climbed from 19.53 in 2017 to 31.54 in 2026, a 61% increase.

The restaurant price index has fluctuated wildly, from a high of 76.51 in 2016 down to 28.07 in 2024 and back up to 48.37 in 2026. This volatility reflects the peso's extreme sensitivity to US monetary policy and trade relations.

Key takeaway: Mexico is no longer the ultra-cheap option it was in 2015-2017. It still offers strong value for US-based remote workers, but the gap is closing.

Explore cities in Mexico →

Indonesia

Indonesia's cost trajectory has been a slow, steady decline. From 21.16 in 2010 to 9.07 in 2026, the index has dropped 57%. Unlike Mexico or Colombia, there has been no significant rebound -- just a gradual, consistent cheapening relative to the US dollar.

This makes Indonesia, and Bali in particular, one of the few nomad hotspots that has actually gotten cheaper over the full data range. The rent index at 18.49 is the second lowest among our eight countries (after Vietnam). Restaurant prices at 29.27 remain very affordable.

However, this national-level data masks a critical reality: Bali's Canggu neighborhood has experienced localized price inflation that far exceeds the national average. Villa rents in Canggu have climbed 15-20% year-over-year even as the national index declined. The lesson: Indonesia as a whole is getting cheaper, but the specific places nomads cluster are getting more expensive.

Explore cities in Indonesia →

Vietnam

Vietnam's trajectory mirrors Indonesia but with even more dramatic swings. The cost of living index plummeted from 32.29 in 2011 to 9.16 in 2025, then ticked up slightly to 9.88 in 2026. At under 10, Vietnam is one of the cheapest countries in our entire dataset.

The most notable trend is the restaurant price index divergence. While overall living costs dropped 69% from the 2011 starting point, restaurant prices fell to 21.32 in 2015 and then climbed back to 42.53 by 2026. This suggests that while groceries and housing have gotten cheaper relative to the dollar, Vietnam's dining-out culture has experienced genuine price inflation -- particularly in tourist and expat areas of Ho Chi Minh City, Hanoi, and Da Nang.

Rent at 19.06 is the lowest among all eight countries. For nomads on extremely tight budgets, Vietnam offers perhaps the best raw value anywhere in the world right now.

Explore cities in Vietnam →

Georgia

Georgia is the wildcard in our analysis. The data only begins in 2012, but the trajectory since then is instructive. The cost of living bottomed at 8.53 in 2019, then spiked dramatically to 19.30 in 2023 before falling back to 12.71 in 2026.

That 2023 spike is the fingerprint of the post-2022 Russian emigration wave. When hundreds of thousands of Russians relocated to Georgia after the invasion of Ukraine, Tbilisi rents and prices surged overnight. Restaurant prices jumped, apartment competition intensified, and the lari strengthened.

By 2026, the market has partially normalized. The index at 12.71 is higher than the pre-2022 baseline (around 9-10), suggesting that some of the newcomers stayed and permanently shifted the price floor. Restaurant prices at 42.95 are the highest in Georgia's data history, reflecting the new, more international dining scene in Tbilisi.

Despite this, Georgia remains one of the cheapest countries in the dataset, and the 365-day visa-free entry makes it unbeatable on a cost-per-day-of-legal-stay basis.

Explore cities in Georgia →

Turkey

Turkey is the most volatile story in our dataset. The cost of living index crashed from 23.66 in 2010 to an extraordinary 6.10 in 2021 -- a 74% decline driven by the Turkish lira's historic collapse. At 6.10, Turkey was one of the cheapest countries on Earth for anyone earning foreign currency.

Since then, the index has more than doubled to 13.29 as the lira partially stabilized and domestic inflation pushed local prices up. The restaurant price index at 72.79 is by far the highest among our eight countries -- suggesting that while Turkey remains cheap for housing and groceries, eating out has gotten significantly more expensive relative to NYC.

The lesson for nomads: Turkey offers extreme value but extreme volatility. Your purchasing power can change 30-40% in a single year based on lira movements. The nomads who locked in Istanbul apartments at lira-denominated rents during the 2021-2022 bottom captured an extraordinary deal. Those arriving in 2026 still find value, but substantially less than the recent peak.

Explore cities in Turkey →

Winners and Losers: Biggest Shifts Since 2009

We compared every country's 2009 index to its 2026 index. Remember: the Numbeo index is relative to NYC, so a decrease means the country got cheaper relative to New York. All countries in our dataset got relatively cheaper, but the magnitude varies enormously.

Countries That Got Relatively Cheaper (Biggest Drops)

The pattern here is striking: Western European countries dominate the biggest declines. Italy dropped 57.4 points, France 55.5, Belgium 55.0. This is primarily a currency story -- the euro traded at $1.40+ in 2009 and sits around $1.05-1.10 in 2026. That 25-30% currency decline, combined with moderate local inflation, created enormous value for dollar-earners.

For digital nomads, this data contains a contrarian insight: Western Europe is more affordable than you think. Italy at 20.45 is cheaper than Portugal was in 2009. France at 22.29 is comparable to Thailand in 2009. If you dismissed Europe as "too expensive" based on decade-old assumptions, the data says to look again.

Bahrain's -61.0 point drop is the largest in our dataset, driven by the decoupling of Gulf state prices from peak oil revenues.

Countries That Changed Least (Smallest Drops)

The countries with the smallest relative drops are interesting because many of them were already cheap. Mexico dropped only 4.6 points -- it was affordable in 2009 and remains affordable in 2026, without a dramatic swing in either direction. India dropped only 6.2 points from an already rock-bottom 10.52.

Mexico's small decline is the most important finding for US-based nomads. While other countries got 30-60 points cheaper relative to NYC, Mexico barely budged. This means Mexico's value proposition has actually eroded compared to alternatives. A nomad who chose Mexico City over Lisbon in 2009 saved significantly. In 2026, the gap has narrowed -- Mexico at 17.81 versus Portugal at 25.21 is a much smaller difference than 22.39 versus 36.41.

What This Means for Digital Nomads

1. The "cheap country" rankings have reshuffled

In 2009, there was a clear hierarchy: Southeast Asia and Latin America were cheap, Europe was expensive. In 2026, the lines have blurred dramatically. Italy (20.45) is now cheaper than Mexico (17.81) by only 2.6 index points -- a gap so small that neighborhood choice matters more than country choice. Latvia (11.95) is cheaper than Thailand (13.90). The old mental model of "cheap regions" no longer works. You need country-specific, city-specific data.

Use our cost of living comparison tools to see exact numbers for your target cities.

2. Currency is the dominant variable

The single biggest driver of cost changes over 18 years has been currency movement, not local inflation. The euro's decline explains Western Europe's transformation. The lira's collapse explains Turkey's extreme cheapening. The peso's fluctuations explain Mexico's volatility. If you are planning a year-long stay, understanding the currency trajectory matters as much as understanding the base price level.

3. Restaurant prices are diverging from overall cost

Across all eight nomad hotspots, restaurant prices have risen faster than overall cost indices. Thailand's restaurant index went from 33.42 to 45.50 even as overall cost dropped from 24.49 to 13.90. Turkey's restaurant index hit 72.79 while overall cost sat at 13.29. This divergence means that nomads who eat out frequently face a different cost reality than those who cook at home. The "cheap" countries are still cheap for rent and groceries, but the dining-out premium is growing everywhere.

4. The best time to move is usually during currency crises

The data shows that the deepest value windows -- Turkey in 2021, Colombia in 2023, Thailand in 2024-2025 -- all coincided with local currency weakness. Nomads who moved during these windows locked in extraordinary value. While timing currency markets is inherently uncertain, the pattern is clear: when a country's currency is in crisis, the cost-of-living advantage for foreign earners peaks. Following currency markets is not just a financial exercise -- it is a practical planning tool.

Frequently Asked Questions

Is cost of living the most important factor for choosing a nomad destination?

No. Cost matters, but internet reliability, visa duration, safety, timezone alignment, and community are equally important. A city that is 30% cheaper but has unreliable internet will cost you more in missed deadlines and client frustration than the savings on rent. Use cost data as one input among many. Our city comparison tool lets you weight factors according to your own priorities.

Why do these numbers differ from what I see on Numbeo directly?

Numbeo's live data fluctuates monthly as new user submissions come in. Our dataset captures yearly snapshots, which smooths out short-term volatility and provides the long-term view that is more useful for planning. Additionally, Numbeo's index is relative to NYC, which itself changes. We use the same index for consistency, but absolute prices in a given city may feel different than the relative index suggests.

Should I avoid countries where costs are rising?

Not necessarily. A rising index often signals improving infrastructure, a growing economy, and better amenities. Portugal is more expensive than it was in 2015, but it is also dramatically better connected, with more coworking spaces, better internet, and a more established nomad community. The question is whether the value you get has kept pace with the price increase. In Portugal's case, many nomads would argue it has.

How accurate is this data for planning my personal budget?

Use it for relative comparison, not absolute budgeting. A country with an index of 10 versus 20 will genuinely be about twice as affordable in broad terms. But your individual spending depends on lifestyle choices -- where you eat, what kind of apartment you rent, whether you use coworking spaces or cafes, how often you take taxis versus public transit. For personalized estimates, try our cost of living calculator and our cheapest cities rankings for region-specific recommendations.

Start Planning With Data

You have just seen 18 years of cost data that no other nomad resource publishes. Here is how to use it:

1. Compare specific cities -- National averages mask city-level variation. Use our city comparison tool to see how Bangkok compares to Lisbon, or Medellin to Tbilisi, on the metrics that matter most to you.

2. Check the cheapest options -- Our cheapest cities by region pages rank every city by actual cost, updated with the latest data.

3. Track flight deals -- Once you know where you want to go, set up alerts on our flight deals page to catch the best prices from your home airport.

4. Explore country profiles -- Every country has a dedicated page with full cost breakdowns, visa info, internet speeds, and more. Start with all countries.

5. Join the community -- Our Discord community is where nomads share real-time cost reports from the ground. The data gets you started; the community fills in the gaps.

This dataset will continue to grow. We update our country indices annually and add new countries as Numbeo's coverage expands. Bookmark this page -- we will publish updated analysis each year with the latest trends.

The world is getting cheaper for remote workers earning in strong currencies. The question is not whether you can afford to be a digital nomad. It is which of the 129 countries in our database gives you the best life for your money.