Top 5 Cheapest Countries in the World

Here in America, there is no such thing as a "cheap city". But travel outside of our borders, and you are bound to find Meccas of wealth, with the dollar in your favor, that is. Believe it or not, there is such thing as $5 a night at a hotel. Following are the cheapest countries on our planet, according to CNN.com.

5. Pakistan - Though politically unstable, the weak Pakistani Rupee favors the American Dollar, making some things unbelievably cheap. Things such as petrol and meals in restaurants may be equal or more expensive than its American counterpart, but what really makes Pakistan cheap is its real estate. A 4 bedroom house with running water in the urban center of Karachi will only set you back $33,000. Now that's a jaw-dropper.

4. Philippines - 200,000 Americans living in this Asian country cannot be wrong. A taxi ride for about a mile will cost you 20 cents while a haircut will be a whooping 80 cents. The cost of a live in maid for a month? $45. Tuition at a local university for a semester will only cost you a mere $250. The Filipino people all speak perfect English, making the Philippines not only the cheapest country in Asia, but also the most appealing to Americans for it being the only Christian, English-Speaking, tropical Asian nation.

3. Argentina - Recently, Argentina has dropped dramatically in the rankings from being one of the costliest countries in the world to one of the most affordable, due to economic crisis that has plagued this South American nation. Leather goods such as jackets and purses are approximately half of what they cost in the States. A movie ticket? $4. Although real estate may not be as cheap as in the Philippines or Pakistan, the amazingly affordable food and services make up for it.

2. Zimbabwe - Not much is known about this mysterious African country, but that its goods are relatively cheap, thanks to having the world's highest inflation rate at 1,000%. Recently, real estate prices have skyrocketed, but the rapidly dropping value of the Zimbabwean currency balances out. A liter of milk = .84 cents; a kilogram of beef is approximately .60 cents.