Ready to move abroad? These 7 countries are the most affordable for digital nomads

Posted by Admin November 8, 2024 Travel

While living abroad as a digital nomad comes with many perks, a big one is feeling like your paycheck goes further than it does back home in the U.S.

With digital nomad visas available in over 50 countries, American remote workers can live in a place where a strong dollar and lower living costs give them a higher quality of life than they could afford back home.

This idea of living off a higher expat income in a low-cost country is a financial strategy known as geo-arbitrage, and it’s one of the reasons why over 21 million Americans said they plan on becoming a digital nomad in the next few years, according to a recent survey by MBO Partners.

“It’s empowering to have more disposable income for travel, experiences and savings, all while enjoying a rich, diverse cultural landscape,” said Michelle Garabito, a digital nomad and founder of the Lux Nomads, which offers consulting services on making an overseas move. “For remote workers, in particular, this lifestyle offers the perfect balance of personal and professional growth.”

Here are some countries that offer digital nomad visas and a low cost of living.

Croatia

Croatia’s digital nomad visa allows for stays up to a year, exempt from income tax. When combined with its endless coastlines, islands, and rich history to take in, the Balkans country is appealing to those who want to stay below budget. A single person’s estimated monthly costs in Croatia is $785.60 – 32.9% lower than in the U.S. on average, as of Thursday.

Thailand

Thai massages, cheap yet delicious street food and stunning natural landscapes are just a few reasons to apply for Thailand’s digital nomad visa, which allows for multiple entries of up to 180 days for five years. It’s also 126% cheaper to live and pay rent in Thailand than it is in the U.S., as of Thursday.

Cabo Verde

An archipelago of 10 islands off the coast of West Africa, Cabo Verde is the ideal destination for digital nomads looking for year-round sunshine and beautiful beaches. The small country offers a Remote Work in Paradise program to live and stay for six months with the option to renew plus a low cost of living, about $689 for monthly expenses, travel insurance platform InsureMyTrip told USA TODAY in an email.

Belize

From waterfall hikes to pristine scuba diving, Belize has endless adventures for digital nomads who participate in its six-month Work Where You Vacation program. It also offers a low cost of living at about $712 a month, according to InsureMyTrip.

Brazil

Brazil has exploded as a digital nomad destination, offering a digital nomad visa of a year’s stay with the option to be renewed. Remote workers can enjoy the South American country’s vibrant culture, a myriad of co-working spaces and low monthly expenses of around $819 in its capital of Brasilia, according to InsureMyTrip.

Portugal

Portugal continues to rise in popularity among digital nomads and retirees looking for a seaside retreat with a lower cost of living. Monthly expenses in a city like Porto will run you about $1,500 and around $2,000 if you want to be in Lisbon, according to Garabito.

Romania

“A lesser-known gem, Romania offers a digital nomad visa and very low costs – around $1,200 monthly in Bucharest or even less in smaller cities,” said Garabito. “With a charming blend of history and affordability, Romania is a hidden treasure in the E.U..” Romania’s digital nomad visa offers a year’s stay, enough time to explore its medieval architecture and historical sites like Transylvania’s mysterious forests.

(This story has been updated to fix a typo.)