In this article, we will be navigating through the 15 richest countries that pay you to move there. If you wish to skip our detailed analysis, you can move directly to the 5 Richest Countries that Pay You to Move There.
Changing Working Trends
Leaving your homeland for better opportunities is a decision for ambitious individuals. The key to earning more might lie not in working hard all the time but in moving to the right place sometimes. The COVID-19 pandemic triggered the remote working culture when the world went into lockdown. According to Relocation Coordinates International, almost 48 million people quit their jobs in 2021. Almost 41% of the global workforce is considering leaving their job and another 46% are looking for remote jobs. Workers are leaving the traditional 9 to 5 roles and are preferring a 4-day work week. After a 4-day week trial of 33 companies and 903 employees, 97% of the workers want the 4-day week structure to prevail in the future. Whereas, 91% of respondents from Buffer’s 2023 State of Remote Work survey shared that they enjoy working remotely, with flexibility listed as the biggest benefit.
As per Forbes, around 12.7% of full-time employees work from home in 2023, while 28.2% workers follow a hybrid model. The 12.7% of full-time remote employees reflect the swift adoption of a remote work environment. By 2025, an estimated 32.6 million Americans will be working from remote positions, which reflects approximately 22% of the workforce. As per this projection, the remote work environment will continue to increase gradually. The increase in remote work is changing the dynamics of relocation. Many countries are now offering digital nomad or freelance visas for remote employees and freelancers.
Iceland, Spain, Estonia, Portugal, and Greece are some of the most desirable digital nomad visa countries in 2023. As we mentioned earlier, almost 17.3 million Americans identify themselves as digital nomads. Since 2022, the number of digital nomads in the US has increased by 2% and has recorded a whopping 131% growth from the period before the pandemic, between 2019 and 2022.
Despite a sudden shift in remote work, the majority of the workforce still work in-office. Therefore, people in large numbers seek opportunities to move to places where they can earn more and live a peaceful life. The US is home to most immigrants. As we mentioned earlier, the total immigrant population soared by nearly 30% in the US between 2005 and 2022, reaching over 46 million. In 2022, the foreign-born Americans accounted for 13.9% of the US population. The United States, Germany, Saudi Arabia, Russia, the United Kingdom, the United Arab Emirates, France, Canada, Australia, and Spain are the top countries with the most immigrants. For instance, the United Arab Emirates is one of the best countries to work and make the most amount of money. The country offers a great platform for startups and corporate employees to make their way to the top and for entrepreneurs to grow their businesses.
Companies Offering Jobs in Rich Countries
Countries that offer different opportunities for you to move there are looking for skilled labor and experts. As we mentioned, remote work is increasing every year and companies such as Upwork Inc. (NASDAQ:UPWK) provide great opportunities for individuals to work remotely from anywhere in the world. America is a land of opportunities and hosts the largest number of immigrants. Some of the top US companies pay handsome salaries to their employees including Apple Inc. (NASDAQ:AAPL). While, Swiss giant Nestlé S.A. (OTC:NSRGY) is also among the top-paying firms in the world.
Upwork Inc. (NASDAQ:UPWK) has one of the largest freelance marketplaces in the world. In 2023, Upwork Inc. (NASDAQ:UPWK) took the platform developments to the next level through collaboration with OpenAI and also launched the Upwork Research Institute. On December 5, Upwork Inc. (NASDAQ:UPWK) announced its collaboration with vendor management systems (VMS) and managed service providers (MSP) for its Enterprise Suite offering. In partnership with SAP Fieldglass and Flextrack, Upwork Inc. (NASDAQ:UPWK) will add a more comprehensive and unified approach to workforce management. On December 12, Upwork Inc. (NASDAQ:UPWK) shared annual stats for freelancing in 2023. As per Upwork Inc. (NASDAQ:UPWK), freelancers added $1.27 trillion to the US economy in 2023, reaching an all-time high. While, a large population of 52% of freelancers were all Gen Z professionals, and 44% were all Millennial professionals in 2023.
Apple Inc. (NASDAQ:AAPL) is one of the largest companies in the world. According to Indeed, Apple Inc. (NASDAQ:AAPL) has an average salary of approximately $42,000 per year for an Inventory Control Specialist to $219,258 per year for an Engineering Manager. While, Apple Inc. (NASDAQ:AAPL) pays an average hourly rate of almost $13 per hour for an Agent to $64.81 per hour for Integration Engineer.
Wall Street is bullish on Apple Inc. (NASDAQ:AAPL). On December 20, Wedbush’s analyst Daniel Ives reiterated an Outperform rating on Apple Inc. (NASDAQ:AAPL) with a price target of $250. Apple Inc. (NASDAQ:AAPL) has an average price target of $203.07 and a high forecast of $250. As of December 30, Apple Inc. (NASDAQ:AAPL) has surged nearly 54% year-to-date. During the third quarter of 2023, 134 out of 910 hedge funds held Apple Inc. (NASDAQ:AAPL). The total stakes of these hedge funds amounted to $179.01 billion at the close of Q3 2023. As of September 30, Warren Buffett’s Berkshire Hathaway was the largest shareholder in Apple Inc. (NASDAQ:AAPL) and held a position worth $156.75 billion.
Nestlé S.A. (OTC:NSRGY) is one of the largest food and drink processing multinationals in the world. According to Glassdoor, Nestlé S.A. (OTC:NSRGY) has an average salary from approximately $42,328 per year for a Warehouse Worker to $226,791 per year for a Director. While, the company pays an hourly rate of $20 per hour to a Warehouse Worker and $108 per hour to a Director. On December 4, Nestlé S.A. (OTC:NSRGY) announced the appointment of four new Creating Shared Value (CSV) members including Dr. Martin Bloem, Paul Hawken, Gonzalo Muñoz, and Jennifer Morris. Nestlé S.A.’s (OTC:NSRGY) CSV Council engages with the company’s Executive Board twice a year to critically review its sustainability initiatives.
These are some of the leading companies that pay a handsome salary to their employees. Now, let’s take a look at the list of the richest countries that pay you to move there.
15 Richest Countries that Pay You to Move There
Our Methodology
To compile or list the richest countries that pay you to move there, we first gathered the list of countries that pay you to move there. We shortlisted the countries that fund people in the form of business investment or incentives for relocation. Then we gathered their GDP per capita (PPP) from the International Monetary Fund’s (IMF) database. Purchasing Power Parity (PPP) figures are used and PPP is calculated by subtracting price differences and nominal changes in the local currency and the US Dollar. We ranked the richest countries that pay you to move there in ascending order of their GDP per capita.
We have also mentioned the country’s employment rate and peace score, which are taken from Trading Economics and Global Peace Index 2023, respectively. These statistics are highlighted to give a better idea of the country’s employment opportunities and how safe it is to move there.
By the way, Insider Monkey is an investing website that tracks the movements of corporate insiders and hedge funds. By using different consensus approaches, we identify the best stock picks of more than 900 hedge funds investing in US stocks. The top 10 consensus stock picks of hedge funds outperformed the S&P 500 Index by more than 140 percentage points over the last 10 years (see the details here). Whether you are a beginner investor or a professional one looking for the best stocks to buy, you can benefit from the wisdom of hedge funds and corporate insiders.
Note: Some of the countries may not directly pay people to move there, but they provide an easy route and offer job visas.
15 Richest Countries that Pay You to Move There
15. Greece
GDP Per Capita: $39,860
Greece is one of the richest countries that pay you to move there. Greece’s island Antikythera offers a stipend of 500 euros every month for the first three years. Overall, Greece has a 91.33% employment rate and a global peace score of 1.89.
14. Portugal
GDP Per Capita: $45,230
Portugal offers a Startup Visa that provides funding and support to entrepreneurs. Portugal has a 57.4% employment rate and a global peace score of 1.333. With a GDP per capita of $45,230, Portugal is ranked 14th among the richest countries that pay you to move there.
13. Estonia
GDP Per Capita: $45,240
Estonia offers an e-residency program that provides funding and support to entrepreneurs. Estonia has a 69.1% employment rate and a global peace score of 1.563. Estonia ranks among the richest countries that pay you to move there.
12. Spain
GDP Per Capita: $50,470
Spain offers an Entrepreneur Visa that offers funding and support to entrepreneurs who want to start a business. Moreover, Ponga, Rubiá, and Griegos are small towns in Spain that offer financial compensation to move there. With a 52.38% employment rate and a global peace score of 1.649, Spain is placed 12th among the richest countries that pay you to move there.
11. Japan
GDP Per Capita: $52,120
Japan has a Regional Revitalization Program which offers funding and support to people who are willing to move to rural areas of the country. Japan has a 61.5% employment rate and a global peace score of 1.336. Japan is one of the richest countries that pay you to move there.
10. New Zealand
GDP Per Capita: $53,810
New Zealand has a Global Impact Visa that allows you to move there and provides support for businesses. Moreover, Kaitangata, a small town in New Zealand, offers land and financial support for people to move there. With a 69.1% employment rate and a global peace score of 1.313, New Zealand is placed 10th among the richest countries that pay you to move there.
9. Italy
GDP Per Capita: $54,260
Italy is one of the richest countries that pay you to move there. Presicce-Acquarica, a small municipality in southern Italy, offers financial grants and other support for people to settle in the town. Italy has a 61.7% employment rate and a global peace score of 1.662.
8. South Korea
GDP Per Capita: $56,710
South Korea provides different visas that supports you to move there. South Korea has a 63.1% employment rate and a global peace score of 1.662. Ranked eighth on our list, South Korea is one of the richest countries that pay you to move there.
7. Canada
GDP Per Capita: $59,810
Canada is one of the richest countries that pay you to move there. Canada offers Startup Visa which supports entrepreneurs to start businesses. Moreover, Saskatchewan pays you if you live there for almost a decade and pay taxes to the province. With a 61.8% employment rate and a global peace score of 1.35, Canada ranks among the richest countries that pay you to move there.
6. Austria
GDP Per Capita: $69,070
Austria through its Red-White-Red Card program allows non-EU/EEA citizens to live and work within the country. The program offers financial support to relocate and work in the country. Austria has a 74.9% employment rate and a global peace score of 1.316. Ranked sixth on our list, Austria is one of the richest countries that pay you to move there.
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Disclosure: none. 15 Richest Countries that Pay You to Move There is originally published on Insider Monkey.