Thinking about packing up the laptop and heading for the beach?
Working remotely, or as a "digital nomad" is on the rise post pandemic, and now the most financially appealing locations have been revealed.
According to research by the Flamingo App, Sri Lanka is the spot where your salary will go the furthest.
Metro UK reports that the cost of living in Sri Lanka is just €572 per month (cost of rent, food, transport and bills). According to Morgan McKinley,the average monthly salary post tax in Ireland is €2887, leaving the Irish digital nomad with more than half their monthly income leftover in Sri Lanka.
After Sri Lanka, digital nomads could also live cheapest in Argentina, North Macedonia, Indonesia and Malaysia. The most expensive countries for digital nomads were found to be Bermuda, the Cayman Islands, Iceland, the Bahamas and Norway.
Pre-pandemic it is reported about 216,000 Irish people were already working as digital nomads and the figure is now likely much higher.
The logistics of working in another country will depend on a number of factors, including your employment status and citizenship. For example, as an EU citizen you can enter another EU country without a visa, but other destinations, such as Sri Lanka will require a Digital Nomad Visa.
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If you are employed by an Irish employer you may not be permitted to carry out your role in another country, for taxation and insurance reasons. However, if you are a freelance contractor, you may have more freedom to work globally, but you will still need to ensure you are tax compliant.
Want to know more about working as a digital nomad? Try the Digital Nomad Cafe Podcast or visit Revenue for information on taxation when working abroad.
Got the travel bug? Read our guide on how to holiday for (almost) nothing.
