A new survey of more than 12,500 global citizens who live abroad ranks the best places in the world to take up residence. These Expats give Panama high marks for the financial stability and work-life balance, among other benefits of living in the Central American country.
The surge in international travel this year is a testament to how much we are craving foreign destinations, along with the diverse mix of people, culture, and cuisine they serve. And while there has always been a subset of the population that’s taken that craving a step further by relocating abroad, the COVID-19 pandemic opened the option to more people than ever before—by increasing remote-work opportunities and creating a global workforce that is more untethered than it’s ever been.
Additionally, a growing number of countries have recently developed and enhanced digital nomad programs to court remote workers, making it easier than ever to install oneself in a foreign country for a prolonged period.
If you’re thinking of moving abroad and are wondering where you might go, perhaps the experience and insight of others who have taken the leap might help with the decision.
InterNations, an expat community with more than 5 million members worldwide, recently published the results of its annual Expat Insider survey, which it’s been running for a decade now. More than 12,500 respondents rated their satisfaction levels with various aspects of expat life in 53 countries, based on five indices: quality of life, ease of settling in, working abroad, personal finance, and the expat essentials index, which includes housing, administration, language, and digital life.
The results revealed the best and worst countries for living abroad, and the 10 best countries are in the Americas, Asia, Europe, and the Middle East.
The 10 Best Countries for Expats to Live Abroad
1. Panama
2. Mexico
3.Indonesia
4. Spain
5. Colombia
6. Thailand
7. Brazil
8. Vietnam
9. Philippines
10. United Arab Emirates
The best country to live and work abroad in is Panama, according to the annual Expat Insider survey. In this year’s survey, Panama ousted Mexico from the top spot thanks to several factors that expats appreciate most about living in Panama, including how happy expats are with their life in Panama, having a good financial situation, and how easy it is to settle in.
Other benefits to living in Panama, according to International Living, a publication dedicated to life abroad, include the modern infrastructure of the capital, Panama City, complete with the widespread availability of high-speed internet, and the use of the U.S. dollar in Panama, which makes finances easier to compute.
International Living notes that Panama offers a pensionado visa that makes it easy for retirees to relocate to the country; it says that while the cost of living is not the lowest in Central and South America, “a couple can live well here for $2,500 a month or less, including rent.”
Indeed, the Expat Insider survey found that 74 percent of expats in Panama are satisfied with their financial situation, compared to the global average of 54 percent, and the country ranks No. 1 in the world for financial satisfaction.
The affordable cost of housing also makes Panama an attractive place to relocate to, with 62 percent of expats there praising the housing costs. Panama also topped the list as the easiest place in the world for expats to find housing.
Ample opportunities to travel, great cuisine, and a pleasant climate are among the reasons Panama is such a great home base for foreigners abroad.
Sven Franssen