Source: Bloomberg
Tuesday 30 July 2024 10:47:01
At a time when the opportunities for flexible work continue to shrink, the options for where to work as a digital nomad continue to grow. Just this year popular destinations such as Greece, Italy, Japan, and Thailand have added digital nomad programs, to compete for foreign talent.
But which country is the best all-around option for remote workers?
A new digital nomad report from global advisory firm Global Citizen Solutions, released on July 25, answers the question by reviewing relocation programs from 65 countries around the world.
The company, which focuses on helping clients identify citizenship and residency by investment programs, evaluated the currently available options by looking at both enacted legislation and expert input.
Its data covers five main categories: Visa costs (application costs, income requirements), visa benefits (duration, extension possibility, path to citizenship), quality of life (health care, security, pollution, climate), economics (cost of living, tax optimization, coworking desk price), and technology/innovation.
The best place to be a digital nomad, according to the report: Spain.
Several factors propelled it to the top, including a new startup law aimed at boosting the country’s entrepreneurial ecosystem, zero taxation on foreign earned income, affordability, availability of high-speed internet, and an environment ideal for technology and innovation.
Nine of the top 10 countries are in Europe, including some surprises. Netherlands and Norway, in second and third place and nearly equal in scores, are somewhat expected for their high standard of living and solid healthcare, education, and social services—but high living costs are a major challenge, the report finds.
Estonia and Romania, however, had an impressive strong showing. They boast a more affordable lifestyle with excellent access to nature and a rich cultural scene. The only non-European destination to make it in the top 10 is Canada, coming in at No. 8. The country announced in 2023 that it was working on a new strategy to attract tech workers.
“The most notable aspect of the report is the dominance of European countries,” said Patricia Casaburi, chief executive officer at Global Citizen Solutions, in an emailed statement. “Additionally, it’s striking that 91 percent of the 65 active digital nomad programs were launched after the onset of the COVID-19 pandemic, demonstrating a rapid response to the shift towards remote work.”
Among the other qualities that gave Spain and the Netherlands an edge, besides the high quality of life, was the fact that they offer digital nomad visa holders a path to permanent residency that can eventually turn into citizenship. (The report doesn’t reflect the growing pushback on tourists in several parts of Spain, for example, which could create an atmosphere of unease for temporary remote workers.)
But each country has distinct advantages. Estonia and Romania have made significant investments in technology, including top-tier infrastructure for high-speed internet. And like other eastern European countries that ranked in the top 20—Hungary, Latvia, and Czechia—they boast relatively low costs of living when compared to Western Europe.
Taiwan came in at No. 12 for the ease of its digital nomad visa system, which lets you stay for as long as three years upon approval, but requires that you work in one of eight specific sectors, including technology, education, finance, and law. Japan, which announced its digital nomad program on April 1, came in at No. 16.
“There is now a broader range of opportunities for digital nomads,” said Casaburi.
High visa costs and required salary levels mean regions such as the Middle East, including Dubai and Abu Dhabi, and the Caribbean did not rank as high on the index. Ranking last were Antigua and Barbuda, Aruba, and Grenada. Overall, Europe accounts for 35 percent of all digital nomad visas currently on offer, the report shows, while the Americas make up 38 percent and Africa just 8 percent.
According to the report, almost 60 percent of remote work visas are impartial to nationality or profession.
“We have noticed that while most digital nomads are nationals from Global North countries, an increasing number [are] from countries with weaker passports,” said Casaburi. “These individuals are leveraging digital nomad programs to acquire permanent residency and citizenship in countries with stronger passports, thereby significantly improving their global mobility.”
15. Malaysia
14. Latvia
13. Czechia
12. Taiwan
11. Germany
10. France
9. Hungary
8. Canada
7. Portugal
6. Malta
5. Romania
4. Estonia
3. Norway
2. Netherlands
1. Spain