We present you the list of the best countries to make money fast. During the last decade, the world has become a global village. Today, we can reach any corner of our planet by using low-cost airlines and the increased connectivity allows us to communicate with our family and friends, who are thousands of miles away, free of charge.
Advanced technology is also motivating people to look for better quality of life and higher salaries in other countries. Although most people talk about immigrants from the Middle East and Africa, a huge migration is going on at the moment, and news agencies are not reporting a thing about it.
Many professionals from highly developed countries search for jobs and business opportunities elsewhere. They are called expats, and apart from higher salaries, they are also looking for adventure, a different life, cultural exchange and an environment that will help them to express themselves.
The HSBC Expat Explorer is the biggest online database of expat guidebooks, job opportunities, and statistics in the world. Recently, this website has issued a thorough survey that compares expat life in different countries based on various criteria, like job security, work/life balance, politics, career progression, safety, healthcare, social life, etc. Since we are only interested in the financial aspect of the expat life, we have taken into consideration the only three financial criteria that determine the expats’ pay.
- Disposable income – determine which countries offer the highest income to expats;
- Wage growth –determine in which country, expats can get the highest pay increase over time;
- Job stability –determine in which countries they can easily find a steady job;
The HSBC’s list of countries with the highest income focuses only on expats, so it’s not the same as GNI and other highest income lists that focus on the domestic workforce. Since we are eager to find the best countries to make money fast, for expats and other foreign residents, the HSBC’s survey offered the most compelling results. Also, the HSBC has created a very informative survey results page, so feel free to browse different countries and rank them by the criteria that are important to you.
Since we don’t like to base the whole article on only one source, we have also used the World Bank’s Doing Business list, which ranks countries by the ease of doing business. Many expats travel abroad to launch their businesses. The possibility of earning money as an entrepreneur doesn’t depend too much on the average expat income or job stability. So by combining the rankings on the HSBC’s and the World Bank’s lists, we tried to create an article that will be equally useful to both corporate employees and entrepreneurs.
We have done this by multiplying country’s reverse HSBC ranking by ten and then subtracting the country’s World Bank Doing Business ranking from it. By following this method, we have made a very important conclusion. The countries on our list can be divided into two groups. The first ‘liberal’ group includes destinations for entrepreneurs who would like to start their business abroad, while the other ‘conservative’ one offers safe havens for big corporations and highly competitive salaries for their employees. If you are solely focused on foreign job opportunities, you should also check out the list of 11 Best Countries with Job Opportunities for Foreigners. While making our list and describing each country, we have also used the Expat Arrivals website.