Moving to a country with a low cost of living has its downsides but investing and doing business are no exception as they also have risks. What guarantees that we can make more money from a capital of 1 million dollars through business or investment?
If you know you are not good at business and are constantly losing money, then there is no reason to continue doing business and only get disastrous results. In that case, moving to a lower cost country would be a better solution. On the contrary, if you are confident in your business ability, staying in your hometown and continuing to develop your career is a better choice.
In fact it all boils down to the people and his attitude. A million dollars is a lot to hear but with no appropriate skills or plan it can disappear so fast both in a developed and a developing nation. Moving into a new location with the express purpose of reducing overhead may be a temporary solution but you would get into trouble when you are not creating anything permanent. Meanwhile, being in the background and attempting to repair all the mistakes when the system you are found in is broken also wears you out. I believe it is more of realizing what you can and cannot run with or what you are comfortable doing, then making an intelligent decision with that in mind.