Amid a growing number of Americans looking to settle abroad, Forbes.com has published a list of five affordable European countries to retire, and Romania is one of them. 

According to Forbes, Europe continues to top the list for many dreaming of moving abroad, and there are several European states where one can live comfortably on a monthly budget of between EUR 1,000 and EUR 1,500. 

“Romania is among the countries that almost unanimously appears on the lists of more affordable European countries. Stunning landscapes, picturesque towns and colorful cities are added to a very affordable lifestyle,” Forbes says.

Bucharest, for example, ranked 142nd on the Cost of Living City Ranking 2023 by the financial services company Mercer, which included 226 cities across the world.  Plus, in the Romanian capital, a one-bedroom apartment costs around EUR 400 a month, plus roughly EUR 100 for utilities.

Forbes also cites a calculation by the Daily Express for Britons wishing to move abroad, which says that the “individual monthly food budget is around EUR 300 and expats can treat themselves to eating out every now and then thanks to the relatively low costs of restaurants.”

Meanwhile, in other areas of Romania such as the north region, the monthly budget for an individual starts at about EUR 600, the report also notes.

As for travel regulations, US citizens are allowed to visit Romania without a visa for a total of 90 days within a 6 months period. For a longer stay, a temporary residency permit is needed. 

Plus, Forbes also mentions that “although it is part of the EU, Romania does not use the euro, which is considered by some to be one of the reasons the costs of living remain low in the country.”

The other four European countries on the list are Portugal, Czech Republic, Bulgaria, and Spain.

irina.marica@romania-insider.com

(Photo source: Radub85/Dreamstime.com)