If you could pick one place in the world to move? Where would you go? For a while, you may have been dreaming about living in a foreign land – experiencing new culture and a new way of life. If you have the opportunity to move abroad, but do not know where to go, then check out this list of the top 25 countries to move to.
|1. Bahrain||6. New Zealand||11. Czech Republic||16. Canada||21. Finland|
|2. Costa Rica||7. Malta||12. Vietnam||17. Oman||22. Sweeden|
|3. Mexico||8. Colombia||13. Netherlands||18. Thailand||23. Germany|
|4. Taiwan||9. Singapore||14. Luxembourg||19. Romania||24. Cambodia|
|5. Portugal||10. Spain||15. Malaysia||20. Norway||25. Ecuador|
Now that you’ve seen the list of top 25 countries to live in for expats, let’s take a look at the factors you might use to decide where to move.
In this article, we’ll take a look at 3 factors:
1. QUALITY OF LIFE INDEX
2. COST OF LIVING INDEX
3. WORKING ABROAD INDEX
The following information is based off the 2017 top countries for expats survey
01. QUALITY OF LIFE INDEX
The quality of life index is comprised of a country’s leisure options, travel and transport ranking, health, well-being, safety, security and personal happiness. Putting your own well being first is a good choice when looking at different countries to go to. Let’s take a look at the top 3 countries in the quality of life index.
Ranking #1 on the quality of life index, Portugal is a beautiful country in a warm climate zone. Portugal ranks extremely high, with only 6% saying they are dissatisfied with quality of life in Portugal.
Taiwan is ranked #2 on the quality of life index. Taiwan doesn’t have the nature beauty that Portugal has, but it makes up for it in other areas. Taiwan is known for their very robust healthcare system. This puts people at ease knowing their health is taken care of. Another factor is Taiwan’s superior public transportation system.
Spain is number #3 on the quality of life index list. Spain is in close proximity to Portugal and it shares a similar beauty. Spain is a sunny place but not only was the country’s nature a reason for the top ranking, but leisure activities brought it up as well. Many expats say socializing in Spain is very relaxed and this contributes to a nice quality of life
02. COST OF LIVING INDEX
The cost of living index is a reflection of how expats satisfaction levels are in regards to finances. Many of the factors that could contribute to this index are housing, food, general expenses, and other financial related items.
Vietnam ranks #1 in the cost of living index. Vietnam’s remote location could be a factor in allowing costs to be down. Vietnam ranks much higher than the global average when it comes to residents’ satisfaction with their finances. 9 in 10 expats are happy with the cost of living in Vietnam, so if you’re looking for a cost effective solution, Vietnam might be the place.
Colombia, located in South America, is ranked #2 on the cost effective list. 86% of expats living in Colombia say their income is sufficient. With the low cost of living, Colombia may be a good solution for you.
Myanmar ranks third on the list of top countries to move to for finances. Myanmar is located near Thailand, which is known for its low cost of living. Aside from low cost of living, Myanmar has beautiful nature and tourist opportunities.
03. WORKING ABROAD INDEX
The Working Abroad Index is a reflection of expatriates satisfaction with their jobs abroad. Career, Job security, and work life balance are the 3 factors that play in to this index.
The Czech Republic is ranked #1 on the Working Abroad index mainly for job security. Expats in the Czech Republic are satisfied with their jobs and tend to take their careers into their own hands, giving Czech Republic the #1 ranking.
New Zealand ranks #2 on the working abroad index. This is mainly due to the high ranking in work life balance. New Zealand tends to have less working hours, giving expats more time to enjoy the scenery.
Bahrain was listed as ranked #3 on the working abroad index, but it is the #1 country for working for women. As well as this, Bahrain was ranked high in work life balance, coming in at the average of 43 hours per week (while the global average was 45).
There are many options to choose from when looking at countries to live in abroad. Use these and other factors to come up with a plan on the best country to move to. And speak with your financial advisor today to set up a plan going forward into your new adventure.
—By Chris Gitre