Many migrants and temporary foreign workers consider Italy as a country to relocate to. In fact, some of Italy’s key industries, such as the production of parmesan, use temporary foreign workers for a huge chunk of its workforce. Still, when you move to a new country, learning to manage your money in two different places can prove to be challenging, but it’s not impossible. Here, we’ll look at the costs of living in Italy and some tips you can use to manage your finances.
Average Cost of Living in Italy
There are many different regions in Italy, each one with its own cost of living depending on the lifestyle required. You can live in a city, in the mountains, by the sea, or by vineyards, and each one will vary slightly in the overall living cost due to transportation and the availability of goods.
As a migrant, you can select to live in any location where you find work. Typically, migrants might choose to live in a big city to find the most work opportunities, but in Italy, migrants can find jobs in factories in the countryside or in tourist hotspots. Overall, the average cost of living in Italy for one person comes out to about €1,500 per month, making it an affordable place to live compared to other European countries.
What You Can Expect to Spend in Italy
Prices for everyday essentials might fluctuate depending on where you choose to live, but it’s always helpful to have an idea of what you can expect to spend before moving. Here are the average prices of what some regular purchases can cost you in Italy:
- Rent: between €900 – €1,800 depending on the area and apartment size
- Meal at an inexpensive restaurant: €15
- Beer: €4.50
- Bus ticket: €3.00
- Milk: €1.00
- Eggs: €3.57
- Gas (1L): €1.52
- Monthly utilities: €90 – €129 depending on apartment size (heating, electricity, gas, etc.)
Where Do Migrants Live in Italy?
The immigrant population in Italy isn’t divided equally, with most foreigners opting for more economically developed areas. 57.5% of foreign residents live in north Italy, 25.4% in the center, and 12% in the south. These are the provinces where you’ll find the most foreigners:
Tips for Managing your Finances in Italy
There are a number of things you can do to help manage your money in Italy and save as much as you can while working abroad:
- Create a budget. Sending money home to loved ones is a priority, so ensure that you have enough money for remittances each month by creating a budget and sticking to it.
- Find other migrants. Befriending migrants in your area in Italy will help you feel at home in a new country and they can also help you get settled with tips and useful information when you’ve just arrived.
- Reduce your money management fees. You’re going to be sending money home each month, so it’s in your best interest to use a low-cost international money transfer service. That means more money to your loved ones, and more money in your pocket. It’s a win-win.
It’s important to do your research before moving to a new country. Not only is this key to learning about the culture and what to expect in a new country, but you want to be able to get a picture of what your finances might look like in advance since you’ll need to manage your money in more than one country. Overall, Italy is a popular destination for migrants that’s more affordable than many other European countries.