When thinking about moving abroad, the first thing that comes to mind is the cost of living, especially since many countries offer different types of tax breaks and other benefits. However, there are several factors that should be considered before making any big decision.
Housing costs vary greatly, depending on location, size of apartment/house, and whether the property is owned or rented. Taxes are another major consideration, as each country has its own system.
Health care may be affordable or expensive, depending on what type of insurance you choose. Transportation can be costly, especially if you plan to commute long distances every day. Internet access and phone service may be cheaper or more expensive than in the US.
Groceries can be cheap or very expensive, depending on what kind of foods you prefer. Shopping can be an adventure or a nightmare, depending on what stores you frequent. Dining out can be cheap or very pricey, again depending on what kind of restaurants you enjoy. And finally, coffee shops are everywhere, but they can be expensive or free.
Here are ten of the best countries for both expat workers and retirees. These countries offer many benefits for expats, including low living costs, high quality healthcare, and low taxes.
1. Australia
Australia offers a lot for those looking for work, retirees wanting to avoid the winter, and even digital nomads. There’s no income tax at all, which makes it easy for anyone to become a millionaire. The minimum wage is also quite generous, so most people do well financially. If you want to live in luxury in one of the most beautiful places in the world, then Australia might just be your dream destination.
2. Austria
Austria is known for having Europe’s highest standard of living, with a variety of natural resources like coal, iron ore, potash fertilizers, lead and zinc. It’s also been ranked as one of the happiest nations, thanks to its excellent education system and group-oriented society. You don’t need to speak German fluently, because Austrian is the primary language. In fact, around 90% of Austrians only understand Aussie slang, but everyone speaks English. Many international companies have their headquarters here, such as Toyota, Honda, Carrier Air Conditioning, Voest Alpine, Kuka Robotics, Siemens Gamesa and Johnson Controls.
3. Denmark
Denmark is often seen as “the lucky country,” not only due to its great weather and rich history, but also because of its strong economy. They are among the top five happiest countries in the world, according to Gallup research. One reason why Danes are so happy is because they score highly on overall life satisfaction and physical health (80th and 27th respectively). Another reason is because they rate themselves number one when it comes to personal finances (71st), job security (49th) and housing (48th).
4. Finland
Finland is known for being wealthy, civilised and green. Its capital Helsinki was named after Helsinki, Sweden, by Swedish King Gustav Vasa in 1550. Finland is also famous for the production of Finnish Metal bands like HIM, Nightwish and Amorphis. This means that Finns love good food, beer and ice hockey. Finland is also known for its tech expertise, especially in the gaming industry.
5. Canada
Canada is a place where business owners take advantage of relaxed immigration laws while enjoying a stable environment and vast amount of natural resources. It’s now popular among retired people who want to escape from the harsh winters of North America. To attract foreign investment, Canada has lowered corporate taxes over time, keeping inflation low.
6. Germany
Germany is actually a collection of states with diverse cultures, languages and cuisines. But Germans have a common mentality that fuels this diversity. They are hardworking and efficient, always prepared for challenges. This unique culture keeps them motivated to achieve success. Some of the biggest names in technology, automotive and pharmaceutical industries were founded in Germany.
7. Ireland
Ireland has a population of about 6 million people and an average household income of €30,000-$60,000 per year. However, there is still a large percentage of Irish citizens living in poverty, despite the economic growth of recent years. People start their own businesses or work in larger organizations once they finish school. The government encourages people to join social projects since these help to improve skills and knowledge, which helps to change lives.
8. Australia
Australia is a land of plenty where nature provides most things you can think of. There are beaches, deserts, mountains, lakes, rivers, forests — everything you could ever dream of and more. If you happen to be driving along the Great Ocean Road, you might see kangaroos hopping across the road. And then there’s the wildlife; koalas, echidnas, platypus, turtles, lizards, birds, fish — you get the picture.
9. Netherlands
The Dutch are well-known for their cuteness. Their sense of humour cannot be denied! With many cities, towns and villages being built on water, sailing is another important part of Dutch culture. Many children learn at a young age how to sail and enjoy spending time on boats. In 2015, the Dutch voted ‘Netherlands’ the best country in the world to live in.
10. Switzerland
Switzerland is home to some of the highest mountains in Europe. Germanic tribes settled in Switzerland around 800 AD, and they became farmers, raising cattle, sheep and goats. During medieval times, open castles existed throughout the country, guarding the roads leading through it. Since those days, Switzerland experienced huge development as a trading nation until becoming rich due to its status as a safe haven during World War II. Nowadays, tourism is one of the main sources of revenue for Switzerland alongside its busy financial sector.
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