In the run-up to the 2024 U.S. presidential campaign, some Americans would rather run away to Europe than wait and see who makes it to the White House. Searches from U.S. users for “move to Italy,” and “move to Portugal” spiked on the evening of the presidential debate as Americans pondered future homes.
But for those seriously considering upping sticks, the first order of business will be finding, well, business—and for those who can do their job remotely, Spain may be the best bet.
The global advisory firm Global Citizen Solutions reviewed relocation programs from 65 countries around the world for its new digital nomad report—and Spain came out on top.
Several factors solidified its top ranking, including a new startup law aimed at boosting the country’s entrepreneurial ecosystem, low visa costs, high speed internet and zero taxation on foreign-earned income.
“Economically, Spain is one of the most affordable countries in Western Europe,” the report concluded, adding that it's also an excellent spot for innovation.
Separate research has crowned Spain’s capital, Madrid as the best city in the world for remote work, thanks to its quality of life (read: great food, sangria and sun) safety, and low taxes.
Digital nomad programs
Nomads no longer need to pick up work at a local bar or café.
Today, they can continue growing their careers remotely from most corners of the world, thanks to the proliferation of digital nomad programs, which have exploded from just two schemes in 2019 to 16 in 2022.
These programs offer digital nomads some combination of visas, reduced tax rates, and other advantages if they relocate to the offering country. Remote workers from the U.K., Australia, and the U.S. can live in Norway for up to two years thanks to its new digital nomad visa. Meanwhile, Thailand’s scheme allows foreigners to stay and work in the country for up to five years. And then there’s the idyllic Italian island, Sardinia, which is enticing digital-nomads in tech, media, finance and real estate by offering to pay their rent.
Nine of the top 10 countries for remote workers, according to Global Citizen Solutions' study, are in Europe, and if Spain doesn’t appeal to you, Greece and Italy have also added digital nomad programs in an effort to compete for foreign talent.
Coming in at No. 8, Canada—which in 2023 announced it plans to become a hub for tech nomads—is the only non-European destination to make it in the top 10.
The Netherlands and Norway nabbed second and third place thanks to their high standard of living and solid healthcare, education, and social services. However, as the report notes, these benefits "come at a premium."
Notably, the report hailed Estonia (4th), Romania (5th), and Hungary (9th) for their substantial investments in technology and innovation. Their lower cost of living compared to Western Europe and potential to gain permanent residency and move freely across the continent propelled them to top spots on the list.
But act fast: Portugal, a former hotspot for golden visa applicants — that is, people who receive residency in exchange for investing in real estate — recently axed its programs after the influx of second citizens fueled a hike in housing prices. And Greece may follow suit.
