When choosing a country for migration, the cost of living in that country is the primary factor to consider. Therefore, in this article, we will examine the living conditions and costs in Romania to help you become familiar with the daily living expenses in this country and make an informed decision. Additionally, in this article, we will thoroughly explore the advantages and disadvantages of living in Romania. At the beginning of this article, we will introduce you to Romania and its people in more detail. The information we provide about the cost of living in Romania and other aspects of life in this country will help you become better acquainted with it. Migrating to Romania is the main goal for many people, but obtaining information about it, especially the cost of living in Romania, will help you encounter fewer unforeseen issues.
Brief introduction to Romania
In this section of the article, we will take a brief look at Romania. This, alongside examining the cost of living in Romania, can help you gain a better understanding of the country. Romania is located in southeastern Europe. The capital of Romania, Bucharest, is also its largest city. Romania is bordered by Ukraine to the north, Moldova to the northeast, the Black Sea to the southeast, Bulgaria to the south, Serbia to the southwest, and Hungary to the west. Romania has an area of 238,397 square kilometers. Approximately one-third of Romania is mountainous, one-third is forested, and the remainder consists of hills and plains. Romania’s climate is temperate, which is one of the positive aspects of this country. The temperate and pleasant climate allows you to enjoy good days in Romania.
It should be noted that the central and western parts of the country are influenced by the humid Atlantic climate. According to 2020 estimates, Romania’s population is 19,260,000. The majority of the population consists of middle to lower-income groups. Rural residents in this country are primarily engaged in agriculture, which generates significant income for the country. Since World War II, the proportion of the population receiving higher education has increased significantly. Examining the cost of living in Romania, alongside the other points we mentioned, will serve as a good guide for you.
Romania's economic situation
The cost of living in any country, including Romania, is directly related to that country’s conditions. Therefore, in this section of the article, we will examine Romania’s economic conditions. Romania possesses a considerable wealth of natural resources, which has resulted in the country having a limited industrial presence, as its natural resources generate substantial income. Fertile land for agriculture is one such resource that provides good income for the people of this country. Pastures for livestock have boosted animal husbandry. Forests producing both hardwood and softwood have led to a thriving timber trade. Romania’s oil reserves are also in good condition, though it cannot be classified as an energy-driven country.
Precious metal reserves, such as gold and silver, are abundantly found in the Apuseni Mountains. Numerous rivers supplying hydroelectric power meet the country’s energy needs, with some energy also exported to neighboring countries. After World War II, the communists established an industrial sector in Romania that remains active today. Considering the assets mentioned for Romania, the cost of living in Romania is in a favorable condition. We will discuss this further in the following sections.
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Living and working in Romania
We will continue examining the cost of living in Romania by discussing work in Romania. In this section of the article, we will address the quality of life in Romania. As we know, the primary goal of migration is to experience a peaceful life. Therefore, merely examining the cost of living in Romania cannot reflect the well-being of its people, as well-being and peace are not solely measured by affordability or high costs. The European Union typically publishes an annual report titled “Well-Being in EU Countries,” which included the UK before its exit from the EU. Studying this report can provide valuable information about the quality of life for Romania’s people. By combining this information with the cost of living in Romania, you can gain a clearer perspective on migrating to Romania.
Priorities related to the quality of life and work take precedence over the cost of living in Romania or any other country, as the quality of life is more important than the affordability of living costs. There are examples of inexpensive countries that people are not eager to migrate to. This does not mean that the cost of living in Romania is high; rather, our point is that the priority is the quality of life, not just the cost of living. Recently, visible efforts have been made in Romania to address economic damage caused by the COVID-19 pandemic.
Job market in Romania
To cover the cost of living in Romania, you need a good job. Therefore, in this section of the article, we will discuss the important topic of the job market in Romania. Finding and securing a suitable job enables you to manage the cost of living in Romania. Finding a job in Romania is not a difficult task. The good news is that the unemployment rate in Romania is very low, so you can easily find your desired job. According to statistics, the unemployment rate in this country was only 4.80% as of August 2016. Based on these statistics, it can be said that good job opportunities are available in this country. Information technology is a thriving industry in Romania, so if your expertise is in this field, you can rest assured about finding a job. Many international companies are present in this country.
Typically, engineering, information technology, and telecommunications are jobs with high demand in Romania. Romania has one of the most vibrant and competitive telecommunications markets. Therefore, telecommunications companies in this country are highly inclined to hire specialists in this field. Speaking Romanian is a significant advantage in the hiring process. If you have this ability, not only will you be hired more easily, but it will also impact your salary in Romania, making it easier to cover the cost of living in Romania.
Romania’s Population
The population of a country affects the cost of living in Romania and any other country. As populations grow, if the government is unable to meet people’s needs, it leads to price increases and inflation, resulting in higher living costs. Therefore, in this section of the article, we will discuss Romania’s population to estimate the cost of living in Romania. Additionally, whether Romania is suitable for living can be assessed through its population dynamics. According to 2020 estimates, Romania’s population is 19,260,000. Like other countries in the region, Romania has a negative birth rate, so its population is expected to decline in the coming years. The low population of this country makes the cost of living in Romania reasonable and suitable.
In the not-so-distant past, a significant portion of Romania’s population was rural. However, today, like many other countries, urban residents make up the majority. These changes in settlement patterns have led to an increase in the working-class population. With greater urbanization, industrial growth has occurred, resulting in excessive migration from rural areas to cities. The cost of living in Romania, particularly in its large cities, is higher than in smaller cities and villages. Therefore, you can choose smaller cities or villages for residency.
Investing in Romania
Alongside examining the cost of living in Romania, we aim to take a brief look at investment in this country. After managing expenses and saving, investment can create passive income, meaning you will no longer need to work to cover your expenses. Addressing investment in this country cannot be covered in a few lines, so we will only provide a brief overview here. For more information, you can refer to the article on investment in Romania. The current conditions for foreign companies investing or doing business in Romania are favorable and defensible. However, the country is slow in addressing investment-related complaints due to a lack of courts to handle economic matters, which slows down the judicial process.
Investment in Romania takes several forms. The first is investment through real estate, which is straightforward and requires no further explanation. To invest through real estate, simply purchase a property—that’s it! Other methods, such as investing through bonds, also exist, and you can choose one based on your goals to cover the cost of living in Romania. With investment, you no longer need to worry about the cost of living in Romania, as your income will exceed your daily expenses.
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Cost of studying in Romania
One of the reasons many are convinced to migrate to Romania is to continue their education in this country. The universities in this country are among the best in their field, and the degrees they offer are highly credible, largely due to Romania’s membership in the European Union. Alongside all these advantages, estimating the cost of living in Romania is very important for those planning academic migration to Romania, as the primary cost of living for these individuals is their educational expenses. Studying at Romanian universities is not free unless you receive a scholarship. Obtaining a scholarship in this country comes with specific regulations, which cannot be covered in this article. For more information, you can refer to the articles on the website. However, for those who do not secure a Romanian scholarship, studying at these universities incurs costs. In addition to tuition fees, the cost of living in Romania includes accommodation, transportation, and food expenses. To obtain information about the tuition fees of the university you intend to study at, you can visit the university’s website. The good news is that tuition fees at Romanian universities are lower compared to other European countries, making studying in this country cost-effective, especially given the credibility of its degrees, which are equivalent to those of other European universities.
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Cost of housing in Romania
Housing is a need that cannot be overlooked, and it can be said that the largest portion of the cost of living in Romania or anywhere else is spent on housing. Whether you rent or buy a home affects the cost of living. If you have the funds to buy a house, you are several steps ahead of renters, as you will not have rent expenses, and your money will retain its value. However, this should not be confused with investment, as the house you live in is not considered an investment. This is an economic topic that cannot be fully addressed in this article. Nevertheless, try to buy a house whenever possible and consider renting as a secondary plan.
Like everywhere else in the world, buying and renting housing in Romania’s large cities is more expensive than in other areas. If you aim to reduce the cost of living in Romania, you can choose smaller cities or even villages for residency. When renting a house, you have many options, from a 30-square-meter suite to a luxurious house, depending on your financial ability. It should be noted that housing costs are not limited to purchasing or renting; they also include maintenance and utility costs.
Cost of treatment in Romania
Another cost that must be considered when living in a country is healthcare expenses. Therefore, while examining the cost of living in Romania, we will evaluate the country’s healthcare costs. In Romania, healthcare is largely covered by insurance. Unfortunately, not all people in Romania are covered by insurance, which is unacceptable given the country’s low population. This becomes more evident when compared to insurance coverage statistics in our country, where 80% of the population, approximately over 75 million people, are covered by various types of insurance—a figure nearly five times Romania’s entire population, which is significant. In any case, you should budget a considerable amount for healthcare costs in this country.
Overall, one of Romania’s weaknesses is its healthcare system, with healthcare costs being a part of it. In addition to high costs, the lack of widespread healthcare facilities is another negative aspect of the country’s healthcare system. This issue is less noticeable in large cities but is particularly bothersome in smaller cities and villages. In summary, a significant portion of the cost of living in Romania is allocated to healthcare costs. We will discuss other aspects of the cost of living in Romania further in the article.
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Food costs in Romania
The cost of purchasing food constitutes a significant and important part of individuals’ daily expenses. Buying bread, rice, dairy products, snacks, and more all contribute significantly to living costs. The cost of living in Romania and purchasing these essentials is not particularly high. The inflation rate in this country is single-digit, so you won’t have much concern about rising food prices. The people of this country can easily afford their food expenses. Therefore, it can be said that if you have a job, you can also cover your daily expenses. The price of bread in this country is almost stable, so if bread is your staple food, you can be pleased. Other food items are not exempt from this rule, though their price stability is not as consistent as bread, but they do not experience significant fluctuations.
The cost of living in Romania primarily includes housing, healthcare, and transportation costs, which we will discuss further in the article. For many, snacks are considered a luxury rather than a necessity, but for some, they are an indispensable need. These individuals spend a significant portion of their income on snacks like chips, snacks, sunflower seeds, and more. The good news for such individuals is that the prices of these items in Romania do not change significantly. In the next section, we will discuss transportation.
Food costs in Romania
The cost of purchasing food constitutes a significant and important part of individuals’ daily expenses. Buying bread, rice, dairy products, snacks, and more all contribute significantly to living costs. The cost of living in Romania and purchasing these essentials is not particularly high. The inflation rate in this country is single-digit, so you won’t have much concern about rising food prices. The people of this country can easily afford their food expenses. Therefore, it can be said that if you have a job, you can also cover your daily expenses. The price of bread in this country is almost stable, so if bread is your staple food, you can be pleased. Other food items are not exempt from this rule, though their price stability is not as consistent as bread, but they do not experience significant fluctuations.
The cost of living in Romania primarily includes housing, healthcare, and transportation costs, which we will discuss further in the article. For many, snacks are considered a luxury rather than a necessity, but for some, they are an indispensable need. These individuals spend a significant portion of their income on snacks like chips, snacks, sunflower seeds, and more. The good news for such individuals is that the prices of these items in Romania do not change significantly. In the next section, we will discuss transportation.
Conclusion:
To cover your expenses in Romania, you won’t face a difficult task, as the cost of living in Romania is very reasonable. Throughout this article, we have addressed various aspects of the cost of living in Romania. By gaining this information, you can plan for your daily living expenses. The Abache Association can provide excellent consultation regarding migration to Romania. Romania is one of the best Eastern European countries. You can contact Abache for more information.
