Expenses are also lower, right? Basics like housing, food, utilities. Even in the west few actually need the bloated budgets they say they do. "Oh I can't live on 60K/year!". Give me a break.
Depends on the quality of life you're aiming at. Rent is certainly cheaper than in SF, NY and London, but isn't that far off from other american and european cities. Still, you can't compare even rents easily, because while european and american renters usually talk about one-bedroom apartments and sometimes don't even mention a common room, here apartments are measured in rooms (not bedrooms) and in my experience are usually smaller. Personally, I pay about $1k for one-room apartment, but it's 15 minutes walking distance from the office, in a very nice neighborhood, furniture and a view; typical rate would be $500 per month or so.