In this article, we will take a look at 20 Best Countries to Relocate to. You can skip our detailed analysis and go directly to the 5 Best Countries to Relocate to.
Immigration is a reality based on practical grounds. The concept of survival of the fittest, as well as the inherent nature of humans, has propelled them to seek the best for themselves. For ages, people have moved from their original birthplace to other localities and this trend reached a decade high in 2021. However, the reasons behind this move can vary among individuals. Similarly, the ideal country for relocation would also differ based on the specific needs of individuals and families. Some might be driven to move to a destination that they perceive as conducive to their skills, while others might be seeking an opportunity for gaining an international education. Additionally, there could be some searching for favorable conditions to explore and establish their dream enterprises. Lastly, we must not ignore the need for escaping geopolitical tensions and economic instability.
Regardless of the factors motivating people to move, according to the Migration Portal Data 2021, there are 258 million international migrants. Among these immigrants, 135 million have been recorded as women, 40.9 million as children, and 26 million have been registered as refugees. Migrant workers constitute a significant portion of international immigrants, totaling 164 million. Additionally, an estimated 6 million international students have been accounted for.
Immigrant Friendly Policies
While people are driven to immigrate for their betterment, the immigration policies of countries are crucial variables to consider before making a final decision as to the best country to relocate to. Various countries are welcoming towards entrepreneurs, investors, or venture capitalists. In 2019, the US recorded 3.2 million entrepreneurs. The Canadian Start-up Visa is another example of how some developed nations encourage immigrants who have the means to set up new enterprises.
However, entrepreneurs are not the only category of people who can find an accessible method for shifting abroad. Many countries are also encouraging qualified and skilled workers. In November 2023, President Biden signed an AI executive order meant to facilitate an easy flow of foreign AI talent into the country. Germany has enacted immigration laws to facilitate the infiltration of foreign workers into the country’s labor market. Australia’s launch of the ‘Skills in Demand’ visa is the government’s attempt to attract foreign workers to address gaps in the national workforce.
Immigrant Entrepreneurs: A Success Story
Immigrant entrepreneurs have been hailed as an essential ingredient for the host economy. Their significance can be gleaned from the numerous success stories of many American Fortune 500 companies. In the 2023 Fortune 500 list, a remarkable 44.8% (224 companies) of these enterprises were founded by either immigrants or their children. Among these 224 companies, foreign-born individuals were directly responsible for 103, while the children of immigrants founded 121. Some notable companies established by these enterprising immigrants and their children include Nutanix Inc. (NASDAQ: NTNX), The Estée Lauder Companies Inc. (NYSE: EL), and Coupang, Inc. (NYSE: CPNG)
Coupang, Inc. (NYSE: CPNG) is an e-commerce company founded in 2010 by Bom Kim, a South Korean teenage immigrant to the US. The company has gained popularity over the years, primarily due to its customer centric policies. Continuing to expand and grow internationally, Coupang, Inc. (NYSE: CPNG) was recently reported to have acquired the European fashion and luxury e-commerce platform Farfetch, as part of their strategy to broaden their product base.
The Estée Lauder Companies Inc. (NYSE: EL), is an example of a company founded in 1946 by the child of immigrants—Estée Lauder, born in New York to Hungarian Jewish immigrants. The company is an international leader in manufacturing and marketing quality skincare, makeup, fragrance, and hair care products. To ensure the company’s relevance in this era, Estée Lauder Companies Inc. (NYSE: EL) is looking to expand its cloud experience and increase incorporate generative AI usage.
Nutanix Inc. (NASDAQ:NTNX) is an American cloud computing company founded in 2009 by Dheeraj Pandey, Mohit Aron, and Ajeet Singh from India. The company has performed well over the years. In Q3 2023, Carillon Chartwell Small Cap Value Fund applauded Nutanix Inc.’s (NASDAQ:NTNX) performance with these words:
“Within the Carillon Chartwell Small Cap Growth Fund, information technology and industrials were the strongest-performing sectors, with strong stock selection leading to alpha generation. The new management team at Nutanix, Inc. (NASDAQ:NTNX) continues to execute well, delivering another positive quarterly earnings surprise. Nutanix’s core hyperconverged infrastructure (HCI) technology continues to gain market share over its competitors.”
20 Best Countries to Relocate to
Methodology
We ranked the best countries to relocate to, based on their attractiveness score for potential migrants, the stock of immigrants as a percentage of population from Migration Data Portal, 2020 and the UN Human Development Index, 2021. We then averaged these three metrics and ranked the best countries to relocate to in ascending order of high average to describe their desirability for incoming settlers.
We gathered data on the top countries’ attractiveness ranking from the OECD 2023, report on What is The Best Country For Global Talents in OECD. According to this report the ranking was based on many dimensions like: Quality of Opportunity, Income and Tax, Future Prospects, Family Environment, Skills Environment, Inclusiveness and Quality Of Life. We have averaged attractiveness scores for highly skilled workers, entrepreneurs, university students, and start-up founders. OECD ranked the top countries on a score of 0-1, with 1 being the highest attractiveness score for the migrant population. In the case of similar averages, the country with the highest stock of immigrants was awarded a higher rank.
By the way, Insider Monkey is an investing website that uses a consensus approach to identify the best stock picks of more than 900 hedge funds investing in US stocks. The website tracks the movement of corporate insiders and hedge funds. Our top 10 consensus stock picks of hedge funds outperformed the S&P 500 stock index by more than 140 percentage points over the last 10 years (see the details here). So, if you are looking for the best stock picks to buy, you can benefit from the wisdom of hedge funds and corporate insiders.
Based on our findings for the most attractive countries for migrants, here are the 20 Best Countries to Relocate to.
20. Finland
Average Attractiveness Score for Potential Immigrants: 0.51
Human Development Index: 0.94
Stock of Immigrants as Percentage of Population: 7%
Insider Monkey Average: 0.51
In the long list of best countries for relocation, Finland emerges as an attractive option for many. The country provides encouraging prospects for a diverse range of immigrants, including those with high skill levels, entrepreneurs, university students, and start-up founders. The high human development index of the country further supports its appeal. Thus, all these indicators point toward a positive outlook for Finland with respect to immigration.
19. Slovenia
Average Attractiveness Score for Potential Immigrants: 0.47
Human Development Index: 0.92
Stock of Immigrants as Percentage of Population: 13%
Insider Monkey Average: 0.51
Notwithstanding the beautiful and peaceful scenery that beckons expats, Slovenia offers many practical advantages that are bound to tip the scale in their favor. The country presents high-skilled workers, entrepreneurs, and students with numerous potential opportunities. Moreover, Slovenia boasts a high human development index, solidifying its position as an attractive place to move and settle down. The established trend of immigrants, constituting 13% of the population, further highlights the country’s appeal.
18. France
Average Attractiveness Score for Potential Immigrants: 0.51
Human Development Index: 0.90
Stock of Immigrants as Percentage of Population: 13%
Insider Monkey Average: 0.51
As a developed nation, France has much to offer to those seeking permanent relocation. From highly skilled workers and entrepreneurs to students and start-up founders, France provides opportunities for many to achieve their dreams. Furthermore, the country satisfies numerous indicators essential for a high quality of life. With its historical allure, France has been a magnet for people in the past and is likely to continue being an attractive destination, solidifying its status as one of the best countries to relocate to.
17. Spain
Average Attractiveness Score for Potential Immigrants: 0.48
Human Development Index: 0.91
Stock of Immigrants as Percentage of Population: 15%
Insider Monkey Average: 0.51
This European state is rapidly becoming a favored destination for those seeking permanent relocation. With a 0.48 attractiveness score, the country appears well-suited to accommodate various demographics. Spain also excels in the variables defining the human development index, suggesting a high probability of maintaining quality standards of life. The large number of immigrant inflow into Spain reflects the confidence people have in choosing this country as their new home.
16. Denmark
Average Attractiveness Score for Potential Immigrants: 0.51
Human Development Index: 0.95
Stock of Immigrants as Percentage of Population: 12%
Insider Monkey Average: 0.53
Denmark is another country that many prospective immigrants might consider as more than a plausible choice. For highly skilled workers and entrepreneurs, in particular, the country provides numerous benefits, making it very attractive. Students aspiring for admission, with the prospect of gaining permanent residency, as well as start-up founders, are also drawn to the country, as indicated by their attractiveness score. Denmark consistently ranks high in providing quality life amenities to its residents, and immigrants have been choosing this country over the years.
15. Netherlands
Average Attractiveness Score for Potential Immigrants: 0.51
Human Development Index: 0.94
Stock of Immigrants as Percentage of Population: 14%
Insider Monkey Average: 0.53
While Netherlands emerges as an attractive option for various types of immigrants, highly skilled workers and entrepreneurs particularly find this country highly conducive to their endeavors. When you combine this with high ranking of the country on the human development index, Netherlands stands out as a potentially favorable relocation place for immigrants.
14. Austria
Average Attractiveness Score for Potential Immigrants: 0.48
Human Development Index: 0.92
Stock of Immigrants as Percentage of Population: 19%
Insider Monkey Average: 0.53
In recent years, Austria has emerged as a much sought-after European nation for relocation. The high immigrant trend does not come as a surprise, given its high ranking on quality of life indicators. Furthermore, the country has proven itself as a land of opportunity for various talented immigrants, making it one of the best countries to relocate to.
13. United Kingdom
Average Attractiveness Score for Potential Immigrants: 0.54
Human Development Index: 0.93
Stock of Immigrants as Percentage of Population: 14%
Insider Monkey Average: 0.54
The United Kingdom is one of those countries that consistently ranks high on most attractiveness scores for potential immigrants. Over the years, immigrants have chosen this state for relocation, and the trend seems to continue. As a developed nation, the UK offers a comfortable standard of living and the capacity to fulfill various indicators for the human development index. Thus, it is no wonder that it makes it onto the list of the best countries to relocate to.
12. Belgium
Average Attractiveness Score for Potential Immigrants: 0.50
Human Development Index: 0.94
Stock of Immigrants as Percentage of Population: 17%
Insider Monkey Average: 0.54
In the surge for European residency seen in the past years, Belgium has emerged as a favorite for many expats. While the data for the attractiveness score for start-up founders is not available for the country so far, the scores for highly skilled workers, entrepreneurs, and students are high enough to establish this country as a very hopeful choice among the best countries to relocate to. Furthermore, the human development index also places Belgium in a position that would entice people to immigrate.
11. Ireland
Average Attractiveness Score for Potential Immigrants: 0.50
Human Development Index: 0.95
Stock of Immigrants as Percentage of Population: 18%
Insider Monkey Average: 0.54
Immigrants from around the world have chosen Ireland as a potential place for moving and settling. This is not surprising, given the beneficial environment that the country has established for various talented individuals, especially highly skilled workers and entrepreneurs. People can experience a high quality and standard of life– a key objective that most migrants have in mind when making decisions about relocation.
10. United States
Average Attractiveness Score for Potential Immigrants: 0.57
Human Development Index: 0.92
Stock of Immigrants as Percentage of Population: 15%
Insider Monkey Average: 0.55
As a potential country for relocation, the US has always been a magnet for most people. Given the high attractiveness scores seen for various types of immigrants– encompassing highly skilled workers, entrepreneurs, university students, and start-up founders– the high demand for the country does not seem very surprising. People can also enjoy a high standard of life here and be secure in the knowledge that most of their basic needs and rights would be granted.
9. Germany
Average Attractiveness Score for Potential Immigrants: 0.52
Human Development Index: 0.94
Stock of Immigrants as Percentage of Population: 19%
Insider Monkey Average: 0.55
As one of the strongest economies in the world, Germany has the potential to attract and retain various types of immigrants. This country has not only enticed many university students to move and settle but has also been a destination for high-skilled workers and entrepreneurs who find the job and business environment extremely advantageous for their agendas. Germany is also known for ensuring access to high education, health facilities, and a high quality of life for its residents, thus ranking high on the human development index and also as one of the best countries for relocation.
8. Iceland
Average Attractiveness Score for Potential Immigrants: 0.52
Human Development Index: 0.96
Stock of Immigrants as Percentage of Population: 19%
Insider Monkey Average: 0.56
Highly qualified individuals and students aspiring to attain higher education would find Iceland as one of the best countries to relocate to. It is also one of the easiest countries to immigrate to without a degree. Many immigrants have realized the potential that the country holds. Moreover, in the quest for ensuring a life where amenities of life can be attained with high quality, Iceland stands out as one of the top choices.
7. Norway
Average Attractiveness Score for Potential Immigrants: 0.58
Human Development Index: 0.96
Stock of Immigrants as Percentage of Population: 16%
Insider Monkey Average: 0.57
In the plethora of European countries for immigration, Norway stands out as a lucrative spot for many highly skilled workers, entrepreneurs, and university students. The stock of immigrants figure also points to the popularity that the country enjoys with expats. Furthermore, the UN Human Development Index has ranked the country on the highest order, adding to the mix of advantages that place it in the list of the best countries for relocation.
6. Sweden
Average Attractiveness Score for Potential Immigrants: 0.55
Human Development Index: 0.95
Stock of Immigrants as Percentage of Population: 20%
Insider Monkey Average: 0.57
Sweden has emerged as one of the top countries in providing lucrative opportunities for talented individuals to succeed in various fields of life. As a developed nation that meets all requirements for a high rank on the Human Development Index, Sweden has attracted expats over the years, and the flow continues to exceed many other countries.
Click to continue reading and see our 5 Best Countries to Relocate to.
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Disclosure: None. 20 Best Countries to Relocate to is originally published on Insider Monkey.