A new study has examined the cost of living in countries that offer special visas for digital nomads, revealing the ideal locations for remote workers to maximize their profits. These visas allow individuals to live and work in one country while being employed a company in another.
According to the Flamingo App’s Digital Nomad Rich List, Sri Lanka emerged as the nation where one’s money goes the farthest. The cost of living in Sri Lanka is reported to be only $615 per month, covering expenses such as rent, food, transportation, and utilities. This means that the average British worker with this opportunity would have a disposable income of about $2,852.
Argentina, Colombia & North Macedonia, Indonesia, and Malaysia were also identified as some of the cheapest nations for digital nomads. These countries offer affordable living costs, providing remote workers with an opportunity to save and maximize their profits.
On the other end of the spectrum, Bermuda, the Cayman Islands, and Iceland were identified as the most expensive locations for remote workers. These countries have higher costs of living, reducing the potential for significant profits. Surprisingly, the United Kingdom was ranked eighth on the list of priciest countries.
If you are considering a remote working lifestyle and looking to maximize your earnings, exploring countries with lower living costs may be a wise choice. These affordable locations allow for a higher disposable income, enabling remote workers to make the most of their financial situation.
– Flamingo App’s Digital Nomad Rich List