Geoarbitrage is moving from a high cost of living area to a low cost of living area to save money on living expenses. Often times, retirees will move to cheap countries to live out their lives with ease, but people of any age can take advantage
The biggest advantage to geoarbitrage is that you can save tons of money - especially on housing. It's no secret that housing is more affordable in certain places than in others.
The reduced cost of housing isn't the only cost saving advantage. Taxes are also lower when you move away from cities - and some states don't have sales tax!