Working remotely is surging in popularity and, as a result, a growing number of countries are now offering digital nomad visas to entice people over.
For those not clued-up, these particular visas allow remote workers to live and work in that country for a specified period, while being employed and earning an income from a business based outside of that country.
And new research has analysed the cost of living in the countries offering these visas, to reveal the best for remote workers to get the most out of their earnings.
According to the Digital Nomad Rich List created by Flamingo App, Sri Lanka is the country where your money will go furthest.
Based on the average UK salary, the data found that cost of living in Sri Lanka comes to just £492 per month (on rent, food, transport and utility bills), so the average Brit is expected to pocket around £2,282 of disposable income.
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Argentina, Colombia & North Macedonia, Indonesia and Malaysia also ranked within the top five cheapest countries for digital nomads – according to this report.
Cheapest places to live as digital nomad, according to Flamingo App:
Colombia & North Macedonia
However, the most expensive countries to work remotely in were also named, with Bermuda scooping the top spot, followed by the Cayman Islands and Iceland. The UK also placed eighth on the most expensive list.
David Hehenberger, the founder of Flamingo App, said: ‘The findings of our Digital Nomad Rich List are eye-opening, highlighting that the average Brit can increase their disposable income by choosing to work remotely from over 40 countries, freeing up financial and mental space to explore and enjoy life. If you can work from anywhere, why not pick a place that enhances your life?
‘Whether it’s the warm beaches of Indonesia, the cultural hubs of Argentina, or the natural beauty of Sri Lanka.