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How Cheap Is It to Live in Paraguay?

By SoyGaboDunn

23 min video·en··303124 views

This is an AI-generated summary of “How Cheap Is It to Live in Paraguay?” — a 23 min YouTube video by SoyGaboDunn, published January 23, 2026. It condenses the full transcript into 10 key takeaways with clickable timestamps.

Summary

This video explores why Paraguay is considered the cheapest country in America, analyzing the low costs of living, including food, rent, utilities, and transportation, while also highlighting its economic growth and attractive tax benefits for tourists and expatriates.

Key Points

  • Paraguay is ranked as the cheapest country in America with a Cost of Living Index of 22.82, according to Numbeo, a prestigious platform for cost of living data. 
  • Rent for a studio apartment in Asunción averages between $215 and $350 per month, significantly lower than in many other countries. 
  • Basic food items are exceptionally cheap due to Paraguay's agricultural surplus, with a kilogram of chicken breast costing around $5.70 and a liter of milk about $1.10. 
  • Electricity is remarkably inexpensive, costing only $20-$40 monthly, as 95% of the country's power comes from the Itaipu hydroelectric plant, one of the world's largest. 
  • The local currency, the Guaraní, is stable, with approximately 7,000 PYG to $1 USD, contributing to consistent low prices for goods and services. 
  • Paraguay has experienced significant economic growth, reducing its poverty rate from 51% in 2003 to 25% in 2023, demonstrating it is not cheap due to underdevelopment. 
  • While the minimum wage is around $370, the low cost of living means that even with a local salary, one can manage, but foreigners with external income benefit immensely. 
  • Overall, Paraguay offers a high quality of life at a very low cost, making it particularly appealing for expatriates and digital nomads. 
  • The country offers attractive tax benefits, including no taxation on foreign-earned income and a 10% tax-free discount for tourists on purchases, making shopping for high-value items very economical. 
  • Public transportation is very affordable, with bus fares ranging from $0.23 to $0.43, and ride-sharing services also offer low prices. 
How Cheap Is It to Live in Paraguay?

How Cheap Is It to Live in Paraguay?

This video explores why Paraguay is considered the cheapest country in America, analyzing the low costs of living, including food, rent, utilities, and transportation, while also highlighting its economic growth and attractive tax benefits for tourists and expatriates.

Key Points

—Paraguay is ranked as the cheapest country in America with a Cost of Living Index of 22.82, according to Numbeo, a prestigious platform for cost of living data.
—Rent for a studio apartment in Asunción averages between $215 and $350 per month, significantly lower than in many other countries.
—Basic food items are exceptionally cheap due to Paraguay's agricultural surplus, with a kilogram of chicken breast costing around $5.70 and a liter of milk about $1.10.
—Electricity is remarkably inexpensive, costing only $20-$40 monthly, as 95% of the country's power comes from the Itaipu hydroelectric plant, one of the world's largest.
—The local currency, the Guaraní, is stable, with approximately 7,000 PYG to $1 USD, contributing to consistent low prices for goods and services.
—Paraguay has experienced significant economic growth, reducing its poverty rate from 51% in 2003 to 25% in 2023, demonstrating it is not cheap due to underdevelopment.
—While the minimum wage is around $370, the low cost of living means that even with a local salary, one can manage, but foreigners with external income benefit immensely.
—Overall, Paraguay offers a high quality of life at a very low cost, making it particularly appealing for expatriates and digital nomads.
—The country offers attractive tax benefits, including no taxation on foreign-earned income and a 10% tax-free discount for tourists on purchases, making shopping for high-value items very economical.
—Public transportation is very affordable, with bus fares ranging from $0.23 to $0.43, and ride-sharing services also offer low prices.
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