Want To Work Abroad? The Most And Least Expensive Countries For Expats

Forbes

2 days ago

Want To Work Abroad? The Most And Least Expensive Countries For Expats
If you find the occasional vacation is not enough to satisfy your wanderlust, ask about an international transfer or check if your company offers a sabbatical, which you can dedicate to travel. If you're really ready to go, leave without a job lined up and take a micro-retirement. William Russell, an international health insurance company, looked at costs for transportation, utilities and even entertainment to approximate cost-of-living for different locations.
Most Expensive Countries For Expats
Switzerland, Iceland and Norway are the top three most expensive countries for expats. If a transfer abroad is for one of these countries, make sure that your compensation accounts for a potential higher cost-of-living. Of course, you should run your own numbers based on your daily living habits – e.g., driving a car v. taking mass transit, eating out v. cooking at home.
Least Expensive Countries For Expats
On the opposite end of the spectrum, Mexico is the least expensive country for expats. Lithuania and Poland tied for second most inexpensive. See the full study from William Russell for the top 10 most and least expensive countries to get even more ideas about where to go.
Moving Your Job Abroad
If you're convinced that you want to take your career abroad, check out international opportunities within your current employer. Your company already knows (and hopefully likes and trusts) you so a lateral move to a new geography might be as simple as expressing your interest and following the internal transfer policies. Check your company's internal job board for specific openings. Research what offices they already have abroad and whether your role exists in these places already. Find out who the decision-makers are, and ask your manager for networking help -- a recommendation or a direct introduction if they know people at your target office.
You may need to interview with the team abroad, so polish up your interview skills. Research differences in your current office environment and your target location – don't assume everything translates 100% even within the same company. Outline a fair transition plan for your current role to minimize disruption to your manager and team.
Alternatives For When Your Current Role Can't Be Moved
If your employer doesn't have existing international opportunities for you to move into, see if they have international expansion plans that you can be a part of. This is a riskier play, since your role won't be defined, but it's a career advancement opportunity to build something from scratch and contribute to a new initiative at the company. If there is absolutely no possibility of a role abroad, negotiate for extended time off that may be enough to quell your wanderlust, or ask for a work-from-home arrangement (then move your home abroad!).
If you don't have the ability to move overseas with your current role, launch an international job search. With online job postings and social platforms like LinkedIn, you don't need to be abroad to make connections abroad. Get to know specific companies and their decision-makers in your target country. Join the regional chapters of your relevant professional association. Research trends local to your target country, and build a case for how your current expertise and experience is an advantage (and worth the trouble of hiring you over someone local).
Top Countries For Digital Nomads
Or, you can pair your geographical pivot with a career pivot and become a digital nomad. Bangkok, Dubai and London took the top three places in a survey of digital nomad hotspots by travel site, Hotelwithtub. The survey looked at a variety of factors including safety, affordability, and even the return rate of digital nomads to compile their list. Make your own list of must-haves for a target geography, make a list of your marketable skills, and take your career abroad as an entrepreneur.