For expats looking for an inexpensive retirement location, it offers one of the most attractive costs of living in Latin America. 

From renting to eating out, Peru offers a high quality of life with a modest income. 

In Arequipa, hundreds of traditional picanterias offer three-course lunches for as little as $2, including a jug of purple chicha morada, the local drink of choice. 

A large three-bedroom apartment in the popular Yanahuara district of Arequipa can be found for $350 per month or less. For double that price, it is possible to find a totally furnished and outfitted modern condo.

"You really can live well on the cheap in Peru," says Jason Holland. "Your cost of living will, of course, depend on your lifestyle. But many expats report spending about $1,500 a month, all in."

Utilities are affordable, too. In Arequipa and Cusco, where air conditioning isn't needed, electricity will run $50 to $60 a month. Water is $10, and high-speed internet/cable TV about $70.

The Peruvian economy is very market-oriented. With an estimated GDP of 202.9 billion USD (in 2014), Peru is the 52nd largest economy in the world. 

Unfortunately, due to the great disparity between the haves and the have nots, Peru’s poverty level is 24%. However, the good news is that the rate of unemployment is steadily decreasing and is now at 6.8%. 

Its diverse geography Peru’s economy is blessed with a wide variety of natural resources. From fish to gold and everything in between, expats thinking of working in Peru can be sure to find something of interest.

Those who plan on working in Peru end up in a foreign company. As Peruvian companies give precedence to Peruvian workers, an expat may have a more difficult time. As a rule of thumb, always look for work before moving to a foreign country. This will greatly facilitate your move in general and your visa application in particular.