In this article, we will look at the 24 best countries to live and work in 2024. We have also discussed the current state of human development. If you want to skip our detailed analysis, head straight to the 10 Best Countries to Live and Work in 2024.
The Human Development Report (HDR) reveals a concerning trend of global decline in human development over the past two years, with a major departure from the progress witnessed in previous decades. Shockingly, over 90% of countries experienced a decline in their human development scores either in 2020 or 2021, with living standards notably plummeting in regions like South Asia. Life expectancy, a key metric, dropped globally from 72.8 years in 2019 to 71.4 years in 2021, primarily due to the adverse impacts of the Covid-19 pandemic. To read more about Asia, see the most respected countries in Asia.
This regression in human development is attributed to various factors, including the Covid-19 pandemic, geopolitical conflicts such as the war in Ukraine, and environmental crises like extreme weather events. These global shocks have not only stalled progress but have also exacerbated existing inequalities and vulnerabilities. Moreover, the HDR highlights three emerging sources of uncertainty: the Anthropocene’s inequalities, profound social and technological changes, and political and social polarization. These factors intertwine to create a “new uncertainty complex,” contributing to rising mental health issues, physical illnesses, and general climate anxiety worldwide.
It is also worth highlighting that the global economy is forecasted to experience a gradual slowdown in growth, with projections indicating a decrease from 3.5% in 2022 to 2.9% in 2024. Despite efforts to combat inflation and navigate disruptions caused by geopolitical events like Russia’s invasion of Ukraine, economic activity remains sluggish and uneven across regions. Notably, inflation, while decreasing, continues to linger above target levels, posing challenges to policymakers worldwide.
Several key factors contribute to the subdued economic outlook, including the completion of the recovery in services, tighter credit conditions impacting housing markets and investment, and the lingering effects of last year’s commodity price shock. Moreover, risks persist, including China’s real estate crisis, volatile commodity prices amid climate and geopolitical shocks, and eroded fiscal buffers in many countries.
With a commitment to socio-economic development, Procter & Gamble Co (NYSE:PG) and the Dubai Department of Economy and Tourism (DET) have recently partnered to drive Dubai’s economic growth in key sectors. This collaboration confirms Procter & Gamble Co (NYSE:PG)’s commitment to supporting SME development in the FMCG sector, providing technical expertise and mentorship to numerous Dubai-based small and medium-sized enterprises.
Moreover, Procter & Gamble Co (NYSE:PG) aims to enhance Emiratis’ skills through vocational learning programs and talent training initiatives, particularly in manufacturing operations and supply chain management, thereby cultivating a more competitive workforce. Through this strategic alliance, Procter & Gamble Co (NYSE:PG) is capitalizing on its global innovation resources to contribute to Dubai’s economic agenda while prioritizing sustainability goals.
Moreover, Procter & Gamble Co (NYSE:PG) India is taking huge steps under its Corporate Social Responsibility (CSR) efforts through its flagship program, P&G Shiksha. As part of this initiative, Procter & Gamble Co (NYSE:PG) is equipping nearly 80 government schools in tribal communities across Maharashtra and Telangana with ‘Mindspark’, an AI-enabled remedial learning tool. This innovative tool assesses students’ learning levels and tailors a customized learning path for each child. The aim is to bridge learning gaps among underprivileged children and empower them with quality education. Through partnerships with Educational Initiatives and state governments, Procter & Gamble Co (NYSE:PG) Shiksha is establishing ‘P&G Shiksha Mindspark Labs’ to facilitate this endeavor.
Through Procter & Gamble Co (NYSE:PG) Shiksha, over 3.5 million underprivileged children have benefited from access to education since 2005. In addition, the success of the ‘Digital Remedial Learning Program’, piloted in 2017, is evident with over 75,000 children, including those from tribal communities, benefiting from Mindspark across hundreds of schools nationwide.
With a similar commitment to development, Shell PLC (NYSE:SHEL) has recently initiated production at its Timi gas field platform in Malaysia, aiming to yield up to 50,000 barrels of oil equivalent per day. The platform is equipped with a pioneering solar and wind hybrid power system, confirming Shell PLC (NYSE:SHEL)’s commitment to emission reduction and innovation. Compared to conventional platforms, the Timi platform is approximately 60% lighter, leading to enhanced cost efficiency. Additionally, Shell PLC (NYSE:SHEL) Rosmari-Marjoram development, slated to commence production in 2026, anticipates delivering 800 million cubic feet of gas daily.
On the other hand, Shell PLC (NYSE:SHEL) has a Global Graduate Program which offers young leaders the opportunity to join Shell PLC (NYSE:SHEL) in powering progress with inclusive, collaborative, and caring culture. Graduates with less than three years of professional experience can apply. The program provides competitive salaries, capital-forming benefits, diverse career opportunities, flexible working hours, and access to training and development programs. Eligible countries include South Africa, Nigeria, India, Germany, Thailand, Canada, United States, and others.
17 Best European Countries to Move to from the USA
Our Methodology
To list the best countries to live and work in 2024, we relied on our datasets from our articles on 30 Countries with the Happiest Workers in the World and 25 Countries with Best Quality of Life for Expats. We averaged the rankings from these two articles and then adjusted our rankings based on these averaged rankings. The list is presented in ascending order.
By the way, Insider Monkey is an investing website that tracks the movements of corporate insiders and hedge funds. By using a similar consensus approach, 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.
Here is a list of the 24 best countries to live and work in 2024:
24. South Korea
Quality of Life for Expats: 21
Happiness of Employees: 34
Average Rank: 27.5
Despite a lower average household net-adjusted disposable income per capita at USD 24,590 compared to the OECD’s USD 30,490, Korea’s strong educational foundation equips its citizens with the skills necessary to secure employment and potentially bridge this income gap. It is one of the most respected countries in Asia.
23. Japan
Quality of Life for Expats: 18
Happiness of Employees: 33
Average Rank: 25.5
Japan is a country with strong employment opportunities, with a 77% employment rate among individuals aged 15 to 64, surpassing the OECD average of 66%. Although men exhibit higher rates at 84%, compared to 71% for women, the overall employment landscape remains robust. In terms of community engagement, Japan reflects moderate levels of civic participation, with 89% feeling they have someone to rely on in times of need, slightly below the OECD average of 91%. It is one of the best countries to live in the future.
22. Singapore
Quality of Life for Expats: 12
Happiness of Employees: 32
Average Rank: 22
Singapore’s reputation as a tax haven for the affluent stems from its minimal personal income taxes and exemptions on foreign-derived income and capital gains. Notable individuals like Australian millionaire retailer Brett Blundy and Facebook co-founder Eduardo Saverin have chosen to reside in Singapore, attracted by its favorable tax environment. It is one of the best countries for job opportunities.
21. Italy
Quality of Life for Expats: 24
Happiness of Employees: 18
Average Rank: 21
Italy has a major advanced capitalist mixed economy, ranking third in the eurozone and eighth globally by nominal GDP. With the ninth-largest national wealth and significant central bank gold reserves, Italy is a pivotal member of the G7, eurozone, and OECD.
20. Taiwan
Quality of Life for Expats: 11
Happiness of Employees: 31
Average Rank: 21
Taiwan has a stable economy with exports reaching $479.52 billion in 2022, attracting workers with dynamic opportunities. Top trading partners like China, the US, and Japan contribute to its appeal for living and working. Taiwan is one of the countries with most job opportunities for foreigners.
19. Ireland
Quality of Life for Expats: 26
Happiness of Employees: 15
Average Rank: 20.5
As the 3rd most economically free country, it leads in high-value foreign direct investment (FDI), ranking 2nd of 192 in IMF’s GDP per capita and 4th of 187 in the World Bank’s rankings. It is the countries with most job opportunities for foreigners in 2024.
18. Czech Republic
Quality of Life for Expats: 17
Happiness of Employees: 20
Average Rank: 18.5
As of 2023, the Czech Republic has a GDP per capita of $51,329 at PPP and $29,856 nominally. It experienced a 4.5% GDP growth in 2017 with a low unemployment rate of 2.4% in 2016, ranking 27th in Economic Freedom and 31st in Global Innovation.
17. Belgium
Quality of Life for Expats: 23
Happiness of Employees: 14
Average Rank: 18.5
Belgium is renowned for its high quality of life, efficient healthcare, excellent education system, and strong social welfare programs. Its central location in Europe provides easy access to other European countries, while its stable economy and business-friendly environment make it an attractive destination for professionals.
16. United Arab Emirates
Quality of Life for Expats: 8
Happiness of Employees: 27
Average Rank: 17.5
In the UAE, 72% of residents prioritize a safe environment for children, with 75% emphasizing work-life balance, and 60% receiving employer support. Maternity benefits exceed global standards, offering 9 weeks’ full pay in Dubai. The country has one of the highest levels of job satisfaction globally. It is one of the best countries to get job easily.
15. United Kingdom
Quality of Life for Expats: 25
Happiness of Employees: 10
Average Rank: 17.5
Foreign interest in UK jobs has doubled since the post-Brexit points-based immigration system began, especially from non-EU countries like India and Nigeria, according to Indeed. The share of foreign job searches rose to 5.5% in June 2023, compared to 2.2% in April 2021. The top job categories are social care and software development. UK is the also one of the best countries for education. It is one of the best countries to live and work in 2024 for foreigners.
14. Portugal
Quality of Life for Expats: 9
Happiness of Employees: 22
Average Rank: 15.5
Portugal has become a new favorite for foreigners due to its new digital nomad visa program launched in 2022. Under this scheme, 200 digital nomad visas have already been approved, with applicants mainly hailing from countries like Brazil, the UK, and the USA. To qualify, individuals must earn a minimum of €2,800 ($2960) per month, four times the country’s minimum wage, allowing them to live and work in Portugal for up to 12 months. In fact, portugal is one of the countries with the easiest work visas for foreigners.
13. Germany
Quality of Life for Expats: 13
Happiness of Employees: 12
Average Rank: 12.5
Germany is experiencing a high demand for skilled workers due to a large number of job vacancies. In 2022, Germany had nearly 2 million job openings. To address labor shortages and boost economic growth, the German government has introduced a new migration policy. This policy aims to attract foreign talent by inviting 60,000 professionals annually from non-EU countries. It offers three pathways for foreign workers: those with recognized degrees, those with vocational training and experience, and those eligible to find work based on a point system. It is one of the best countries to live in 2024.
12. Canada
Quality of Life for Expats: 20
Happiness of Employees: 5
Average Rank: 12.5
In 2024, Canada plans to welcome 485,000 permanent residents, with the number increasing to 500,000 in 2025 and remaining steady in 2026. The Immigration Levels Plan is geared towards tackling labor shortages, fostering economic growth, and facilitating family reunification. There will be a focus on increasing French-speaking immigration to 8% by 2026. Priority will be given to critical sectors such as health, STEM, trades, and agriculture. The Express Entry program aims to admit 117,500 individuals annually, while the Provincial Nominee Program targets 120,000 admissions by 2025. In comparison, the number of permanent migrants accepted in Canada in 2021 stood at 401,100. It is the best country for for immigration in 2024.
11. New Zealand
Quality of Life for Expats: 22
Happiness of Employees: 1
Average Rank: 11.5
New Zealand leads globally in work-life balance with an ample annual leave of 32 days, a universally accessible healthcare system, and a stable economy. It stands out as the country with the most satisfied workforce worldwide.
Click here to see the 10 Best Countries to Live and Work in 2024.
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Disclosure: None. 24 Best Countries to Live and Work in 2024 is originally published on Insider Monkey.