Digital Nomad Index, Costs To Consider And How It Shapes The Future
Maybe in the past the term digital nomad sounded strange, some people, especially the older generation had no idea what it means. The situation is about to change, necessity is forcing people to rethink their options and adapt to the new situation. Working remotely has become common, so the country offering better conditions for these nomads will benefit the most. There's already a competition that is going to become tighter over the upcoming years.
Covid-19 has speeded up the process, forcing many to work remotely for indefinite time. It's been the only way to get the work done safely for many. And if your work doesn't require your presence at work at all, you can become a digital nomad.
What exactly is a digital nomad? The digital nomad lifestyle implies that you can mix travel with work and clock in from anywhere in the world. Nowadays, it’s become a hashtag trending on Instagram “#digitalnomad” with the pictures of people working on their laptops in beautiful serene places. _A __digital nomad _is someone who travels frequently, with no set home base, and works remotely to support their lifestyle. source
There's even an index, ranking countries based on it. So let's see the best ranked countries and what they have to offer to digital nomads.
Top Countries Based On Digital Nomad Index
Here's the list with the top 3 countries based on the Digital Nomad Index. Don't know about you, but I'm quite shocked to see my country taking third place on the list. Usually we're leading lists for all the wrong reasons. After looking at the screenshot below, I can see why my country got this ranking.
As you can see, Canada is first on the list, followed by the UK and Romania. If you compare the three countries, Romania definitely falls behind in every category but in this case it looks like it has something better to offer. Let's see what it is.
Things To Consider When Deciding On The Country
There's a lot to consider when deciding on which country to move to. It's not an easy decision and there may not be a perfect county that ticks all the boxes, one may have to compromise.
Internet quality and cost may be the most important factor on the list as without it you can't do the job, right? Living costs, safely, visa, these are also important.
Top Ten Countries To Choose From
Because internet is so important, circleloop.com is listing both broadband and mobile speed as well as broadband costs. Nomads would most likely have both, mobile and broadband connection to be available most of the time but will rely less on mobile internet as that's a bit expensive in most countries for work purposes, besides, broadband connection is more reliable.
Therefore internet speed and cost are the first three columns. The red frames mean the three best offer on the list, meaning the best speed, the lowest internet cost and the lowest monthly rent.
From broadband speed standpoint, Romania has the best offer and I can personally guarantee, you can get the best service for a fraction of what you would pay in other countries. Broadband speed is 188.55, for only $8.15. That's a bargain, compared to the other countries. The next cheapest broadband cost is in France, $27.81, but that's almost three times of what you would pay in Romania. As about mobile speed, that is not the best, it's only half of what Canada, the best placed country can offer.
Taking into consideration broadband cost and monthly rent cost, Romania is the cheapest again and it's the only country with a rent below $400. The next country is France, but again, the rent in France would be more than double of what you could pay in Romania.
Interesting to note that 8 of the top 10 countries are European countries and most of them you find among the countries with the lowest corruption index. I did a post two days ago about it.
These countries are all offering working holiday visa, unlike Croatia, where the digital nomad visa is granted only if the applicants don't provide services for Croatian businesses.
A working holiday visa is a residence permit allowing travellers to undertake employment (and sometimes study) in the country issuing the visa to supplement their travel funds. For many young people, holding a working holiday visa enables them to experience living in a foreign country without undergoing the usual costly expenses of finding work sponsorship in advance or going on expensive university exchange programmes. source
I see the statistics shows migrant population % as well. It is a factor to consider for sure, as it can affect your safety. I know it sounds awful, but recent events in Europe backs this up. Romania is lucky this way as it has the lowest percentage of all, only 2.4 most likely made of students from neighboring countries that after graduation decided to stay. Migrants have preferred to stay away from Romania, and chose more developed countries.
The Future
Migration is what people do when they think there's a better future for them elsewhere. It's a natural process that can't be stopped. It has its own benefits and the country that recognizes the benefits and offers good conditions to digital nomads will benefit the most. It's the future and the more technology advances, the more we're going to see people migrating to better places, enjoying life while working. Going to the office, working from 9 to 5 is an old model.
Imagine sitting on that terrace, enjoying the view, the good weather while working. That is what Greece can offer you.
Thanks to legislation passed in Greek Parliament last year, starting this one digital nomads (that's the trendy new label for remote workers) who come to Greece can take advantage of a 50 percent tax break for the first seven years. Ostensibly those are Greek taxes we're talking about, which is something to consider. While a tax break on that order is certainly an enticement, how the overall tax ecosystem stacks up against that of your own country could still be a factor from the prospective digital nomad's point of view. Still, the Greek mystique is pretty strong. source
Greece is in a difficult position already and without tourists, the economy is going to collapse. Offering favorable conditions to those who can afford to move there can benefit everyone on the long term as well. 5G networks are already operational in major Greek cities and they're coming to some Greek islands too, so no reason for concern regarding good internet connection.
Compared to what Croatia has to offer, Greece I think it is in a better position. You pay half of the taxes and the offer is available for 7 years.
"Greece is a member of the European Union so any EU citizen is allowed to live and work freely out of Greece," Patelis says. "Other than that, there are traditional routes to obtain work permits and/or temporary stays." source
This is the other huge advantage. Europeans usually prefer to spend their holiday in Greece anyway, thanks to the wonderful beaches and historical beauties. Upgrading the infrastructure to host digital nomads can benefit everyone. It can have long term results and benefits.
So what country would you choose from the top 3?
Posted Using LeoFinance Beta
