Is Living Overseas For You?
Have you ever dreamed of living in a far-away land, experience a different culture, enjoy a better work-life balance, find that perfect climate, or experience a better quality of life overall?
If you have, you are not alone. According to a March 2024 poll 34% of Americans dream of living in another country. This figure marks a significant increase from historical levels, reflecting a shift in lifestyle aspirations and increased interest in exploring different cultures and experiencing life outside the U.S..
In the past, living abroad was primarily limited to wealthy individuals, diplomats, or those in specialized professions. Today, with improved global communications, transportation, and the growth of remote work opportunities, compared to the past, living overseas has become more accessible to more everyday Americans than ever before.
Increased Accessibility: The rise of remote work has allowed individuals in various professions to live anywhere in the world, not just those tied to specific job locations. This flexibility enables people to choose countries that align with their lifestyle or personal goals.
Global Communication: Advances in technology and communication platforms (like video conferencing and instant messaging) have made it easier to maintain relationships and work connections from afar. This connectivity diminishes the isolation that could come from living in a foreign country.
Transportation Improvements: Lower travel costs and more efficient transportation options have made it easier for people to explore and move to different countries. Budget airlines and more frequent international flights make it feasible for many to live abroad for extended periods.
Why Live Overseas?
Relocating outside the United States can offer lower living costs, beautiful climates, and a chance to experience new cultures. For those considering relocation outside of the United States, several countries stand out for their quality of life, affordability, favorable tax regimes, safety, and beautiful surroundings. Becoming an expatriate (expat) can offer a variety of benefits and opportunities. Here are just some of the compelling reasons why individuals are choosing to live abroad:
Cultural Experience: Living in a different country allows you to immerse yourself in a new culture, language, and way of life. This can lead to personal growth and a deeper understanding of global perspectives.
Career Opportunities: Many professionals move abroad for better job prospects or to work in specialized fields that may not be available in their home country. International experience can enhance your resume and open doors to new career paths.
Cost of Living: Depending on the country, the cost of living can be significantly lower than in the U.S. This allows for a higher quality of life, whether through more affordable housing, healthcare, or daily expenses.
Adventure and Travel: Living abroad provides the chance to explore new places and experience adventures that may not be possible at home. Being in a different country can serve as a base for traveling to additional nearby destinations.
Work-Life Balance: Some countries prioritize work-life balance more than the U.S., offering more vacation time, shorter workweeks, and a focus on leisure activities. This can lead to improved mental health and overall satisfaction.
Education and Learning: Expats often have access to diverse educational opportunities, whether through local universities or international schools for their children. This can provide valuable learning experiences that enhance personal and professional development.
Building International Networks: Living abroad allows you to connect with a diverse group of people, both locals and other expats. These relationships can lead to lifelong friendships and valuable professional connections.
Escape from Routine: For many, the desire to break free from the monotony of daily life drives the decision to move abroad. A new environment can reinvigorate personal passions and interests.
Health and Well-being: Some expats relocate for health reasons, seeking better healthcare options or a healthier lifestyle. This might include countries with better access to healthcare or those known for their emphasis on wellness.
Overall, becoming an expat can be a transformative experience, offering opportunities for growth, adventure, and a fresh perspective on life.
Here’s a look at just some of the top destinations around the world recommended by American’s living overseas. They combine affordability, favorable climates, access to healthcare, and good quality of life:
1. Portugal
- Why Move: Often cited for its affordability, quality of life, mild weather, and high-quality healthcare system. Portugal consistently ranks high for its warm climate, affordability, and excellent quality of life. It has a robust healthcare system, friendly locals, and a welcoming atmosphere for expats.
- Top Locations: Lisbon (dynamic and cultural), Porto (historic charm), Algarve (sunny beaches and popular with retirees), Coimbra (for a smaller-town feel).
- Climate: Mediterranean, with mild winters and warm summers, especially in the Algarve.
- Cost of Living: Lower than most of Western Europe; affordable housing, dining, and healthcare.
- Healthcare: High-quality and affordable. Portugal has public and private healthcare, with options to join the public system.
- Highlights: Safe, friendly locals, excellent infrastructure, beautiful coastlines, and vibrant expat communities.
2. Mexico
- Why Move: Ranked 2nd overall in the InterNations survey, with 90% of expats expressing contentment with their lives there. It's praised for affordability, friendliness, and ease of settling in. Mexico offers beautiful beaches, vibrant culture, low cost of living, and proximity to the U.S., making it a popular choice for expats and retirees.
- Top Locations: Puerto Vallarta (beach town), Mérida (colonial charm), San Miguel de Allende (artistic community), Lake Chapala (expat-friendly).
- Climate: Varied – from coastal areas with warm climates to highland towns with cooler, temperate weather.
- Cost of Living: Low to moderate; highly affordable compared to the U.S.. Very affordable, particularly outside of major tourist hubs; housing and daily expenses are low.
- Healthcare: High-quality healthcare at a fraction of U.S. prices. Private insurance is an option or access the IMSS public health system.
- Highlights: Proximity to the U.S., rich cultural heritage, and well-established expat communities.
3. Spain
- Why Move: Ranked 1st in the Quality-of-Life Index for the third consecutive time according to InterNations. Expats appreciate its leisure options, healthcare, and climate. Spain offers a relaxed lifestyle, beautiful landscapes, excellent healthcare, and a diverse expat community. It’s especially popular with retirees due to its mild climate.
- Top Locations: Valencia (beaches, affordable), Alicante (coastal town), Barcelona (cultural hub), Málaga (warm weather year-round),.Costa del Sol, Granada.
- Climate: Warm Mediterranean, especially in the southern coastal areas.
- Cost of Living: Moderate; lower than other Western European countries, with affordable food, housing, and public transit.
- Healthcare: Excellent public and private healthcare, often at much lower costs than in the U.S.
- Highlights: Beautiful scenery, rich culture, excellent healthcare, and established expat communities, particularly in coastal regions.
4. Ecuador
- Why Move: People choose to move to Ecuador for several compelling reasons, including a high quality of life, affordability, natural beauty, and a welcoming environment for expatriates. Ecuador offers everything from the Andes Mountains to the Amazon rainforest, Pacific beaches, and the Galápagos Islands.
- Top Locations: Cuenca (cobblestone streets, and historic churches, making it one of Ecuador’s most picturesque cities), Quito (cultural, economic, and political hub), Vilcabamba (clean air, pure water, and relaxed lifestyle), Salinas (known for its beaches and resort-like atmosphere). Cities like Cuenca, Quito, and Salinas have established expat communities, which provide support and social networks for newcomers, making the transition easier.
- Climate: Mild, year-round temperatures in highland areas like Cuenca; warmer in coastal and lowland areas.
- Cost of Living: Very low; one of the most affordable countries in South America.
- Healthcare: Quality healthcare available at affordable rates; Cuenca is particularly known for good medical facilities.
- Highlights: Low cost of living, natural beauty from mountains to coastlines, and friendly locals.
5. Costa Rica
- Why Move: Often cited for its affordability, quality of life, mild weather, and high-quality healthcare system. Known for its “Pura Vida” lifestyle, Costa Rica is ideal for nature lovers and those who value a peaceful life. It boasts a stable democracy, quality healthcare, and is a haven for eco-friendly living.
- Top Locations: San José (central and metropolitan), Guanacaste (beach living), Arenal (nature and mountains) , Central Valley.
- Climate: Tropical climate with cooler highland areas and warm coastal areas.
- Cost of Living: Affordable, though some areas have higher living costs than others.
- Healthcare: High-quality, affordable healthcare system (CAJA); private and public systems available.
- Highlights: Stable government, welcoming locals, great healthcare, and beautiful beaches and jungles.
6. Panama
- Why Move: Ranked 1st overall in the 2024 InterNations survey, with 82% of expats happy with their life there. It's noted for affordability, ease of settling in, and financial satisfaction. Panama is known for its warm weather, stable government, and easy access to the U.S. The country offers tax advantages, particularly for retirees, and its Pensionado program is very appealing.
- Top Locations: Panama City (modern with amenities), Boquete (popular with retirees), Coronado (beach area).
- Climate: Warm tropical climate with a dry season from December to April.
- Cost of Living: Moderate, with Boquete and Coronado offering affordable options for retirees.
- Healthcare: High-quality private and public healthcare; popular hospitals in Panama City offer care at affordable prices.
- Highlights: Low cost of living, accessible healthcare, vibrant expat community, and tax advantages for foreign income.
7. Thailand
- Why Move: Ranked 6th overall among the best destinations for expats. Thailand offers a relatively low cost of living compared to Western countries, tropical climate, stunning beaches, lush mountains, and beautiful islands attract nature lovers and those seeking a warm, year-round climate. Coastal areas, in particular, are popular for their laid-back lifestyles.
- Top Locations: Chiang Mai, Hua Hin, Bangkok
- Climate: Tropical; hot and humid, with cooler climates in northern highlands like Chiang Mai.
- Cost of Living: Very low; affordable housing, food, and healthcare, especially outside of Bangkok.
- Healthcare: High-quality and affordable, especially in Bangkok and Chiang Mai.
- Highlights: Affordable lifestyle, friendly locals, and rich culture; ideal for retirees looking for an adventurous, cost-effective retirement.
8. Malaysia
- Why Move: Mentioned for its diverse living environment and affordability. The country shines in aspects such as the ease of settling in (ranked 6th globally) and personal finances (11th). Expats find Malaysia to be especially welcoming, with 85% feeling accepted, significantly above the global average.
- Top Locations: Penang (lush hills, beaches, and scenic landscapes), Kuala Lumpur (bustling capital, economic hub, and vibrant nightlife), Langkawi(beautiful beaches, turquoise waters, and lush tropical forests). Cities like Bangkok, Chiang Mai, and also Phuket have become popular hubs for digital nomads and remote workers.
- Climate: Tropical, with consistent warm temperatures and seasonal rain.
- Cost of Living: Very low; excellent value for money on housing and daily expenses.
- Healthcare: High-quality healthcare with many doctors trained in the U.S. and UK; low-cost medical care.
- Highlights: Affordable cost of living, English widely spoken, and a well-developed infrastructure. Malaysia, as a whole, is attractive to expats because of its affordable living, friendly locals, English-speaking population, high-quality healthcare, and convenient location in Southeast Asia.
9. Italy
- Why Move: Italy offers many positives, particularly in language adaptability and affordability for those familiar with the local language. Italy’s renowned lifestyle, cultural richness, and favorable climate attract a number of expats.
- Top Locations: Abruzzo, Tuscany, Sicily
- Climate: Varied, with mild Mediterranean climates along the coast and cooler in the north.
- Cost of Living: Moderate, with Southern Italy generally more affordable.
- Healthcare: High-quality and affordable; universal healthcare available for legal residents.
- Highlights: Beautiful landscapes, rich history, incredible cuisine, and relatively low costs for a European destination.
10. Colombia
- Why Move: Ranked 5th overall, standing out as a top destination for expats, especially due to its low cost of living and cultural ease. It excelled in categories like “Ease of Settling In” and “Personal Finance,” with many expats expressing satisfaction with both the social and financial aspects of life in Colombia. Colombia has a warm climate, low cost of living, and has recently become popular with expats. The people are welcoming, and the culture is vibrant.
- Top Locations: Medellín (spring-like weather year-round), Bogotá (capital with cultural diversity), Cartagena (coastal and historic).
- Climate: Spring-like climate in Medellín; tropical in coastal areas like Cartagena.
- Cost of Living: Very affordable, particularly in terms of housing and daily expenses.
- Healthcare: High-quality healthcare system that’s affordable.
- Highlights: Stunning natural beauty, vibrant cities, low cost of living, and a welcoming expat community.
Each of these destinations offers unique benefits, and it’s wise to visit potential spots first to get a feel for the local culture, climate, and amenities.
Additionally, consulting a financial advisor for tax and financial implications of an international move can be quite beneficial.
