Monday, June 5, 2023

List of countries that offer the lowest cost of living for digital nomads

With the pandemic the benefits of remote working have been explored more strongly and to date, the market for ‘digital nomads’ is on the rise. A recent report by Go Banking Rates lists the 10 cheapest countries to visit for this purpose.

The ranking took into account the monthly rental price of an apartment per room, with prices ranging from US$855 to US$234 and Colombia managed to rank first.

In first place is North Macedonia, specifically the city of Skopje, with an average monthly rental price of US$234. As highlighted in the study by Christy Sullivan, Founder, Executive Remote Worker, there are transport facilities and good connectivity infrastructure. Areas to visit include Stone Bridge, Matka Canyon, Vrelo Cave, and Mavrovo National Park.

Colombia ranks second with an average price of US$262. The country not only highlights tourist destinations, but also highlights gastronomic diversity and low cost of living (for foreign exchange nomads). The Numbeo platform reports that the cost of living in Colombia is on average 65.9% lower than in the US.

“Beyond economic issues, it is important to highlight that remote and hybrid working practices have been well received by companies in Colombia. According to our study on remote work, 79% of organizations continue under this modality even after the pandemic”, explains Gladys Vega, President of the Colombian Federation of Human Management (ACRIP).

Continuing the list, Indonesia closes in the top three with US$290 for a monthly room rent. The ranking highlights that a meal at an in-house restaurant can cost you less than US$2 and you won’t suffer from internet connections even in beach and volcano areas. Places to visit include Bali, Tanjung Puting National Park, and Banakan and Raja Ampat Marine Parks.

But what does a digital nomad keep in mind when deciding where to telework? “The documentation and time of stay that a country allows; Cost of living too. Another factor to evaluate is whether your work as a nomad requires 100% internet access or if you can work offline”, says Beto Rendón, content creator at @ElDiariodeBeto and Digital Nomad.

Rendón points out that one of his biggest advantages of this lifestyle is the flexibility of time, work, and travel at the same time.

The following destinations are located in excess of US$300. For example, Thailand has a median income of US$394 and its attractions include beaches, festivals and great food. The internet is usually fast and in cities like Chiang Mai, you can take in all the historical infrastructure while you work.

In South Africa, which ranks fifth on the list, rents cost US$425 and the outlook is even more favorable for dollar earners. The country also offers a good internet connection, an agenda full of shows, sporting events and many gastronomic offers.

Nation World News Desk
Nation World News Desk
Nation World News is the fastest emerging news website covering all the latest news, world’s top stories, science news entertainment sports cricket’s latest discoveries, new technology gadgets, politics news, and more.
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