Snorkeling near Isla de Perro within the San Blas archipelago in Panama. one of the best place to live in 2024, … [+]
Accordingly ReportsInterest in moving abroad has skyrocketed following the recent presidential debate. So what are one of the best places on the earth to live? Ask the expats—they provide a novel perspective on life abroad, so their feedback is invaluable.
This 12 months marks the eleventh edition of the Expat Insider reported by InterNationsone of the crucial comprehensive studies on expat life, collecting responses from over 12,500 expats of 175 nationalities from 174 countries or territories.
The report ranks one of the best countries to live in, analyzing aspects reminiscent of quality of life, ease of settling in, working abroad, personal funds, and the Expat Essentials Index (which covers housing, administration, language, and digital life).
This 12 months, Panama has climbed to the highest spot – a powerful jump from its third place last 12 months – pushing Mexico into second place. Compare these results to 2023 and 2022, when Mexico was in first place.
The skyline of Panama City – essentially the most livable city on the earth.
The best place to live in 2024
Expats have voted Panama one of the best place to live in 2024. According to the Expat Insider report, a remarkable 82% of expats in Panama say they’re satisfied with their life there, well above the worldwide average of 68%.
So what makes Panama so attractive? “Panama has seen a significant improvement in the Working Abroad Index, from 30th place in 2023 to 12th place in 2024,” Malte Zeeck, founding father of InterNations, told me in an interview. “Another index where Panama has made significant gains is quality of life, with improvements in the following subcategories: travel & transit (particularly in terms of affordability of public transport), leisure opportunities and healthcare (particularly in terms of affordability, availability and quality of medical care).”
Financial satisfaction is a distinguished think about Panama: 74% of expats are satisfied with their financial situation, in comparison with the worldwide average of 54%. The country ranks first on this aspect and fourth overall within the Personal Finance Index. In addition, 88% of respondents imagine their disposable income is sufficient for a cushty life and 62% praise the affordability of housing – significantly higher than the worldwide average of 34%.
Panama also scores highly on the Expat Essentials Index, particularly when it comes to the convenience with which one can find housing and procure visas. With a good portion of the expat community already retired, Panama also scores well when it comes to work-life balance and general working hours, making it a gorgeous destination for each retirees and dealing expats.
On a rooftop in Mexico City, Mexico – the second best place to live.
Mexico: Another favorite for expats
Mexico continues to be a top alternative for expats, securing second place in 2024. Almost nine in ten expats (89%) say they’re satisfied with their life in Mexico, which is well above the worldwide average.
“Mexico is a beautiful and very diverse country with nice, warm people. I like the history and culture, it is a balance between traditions and modernity,” said a French expat within the Expat Insider report.
The friendliness of Mexicans and the convenience with which one can settle in are key aspects that make Mexico attractive. An impressive 86% of expats rate the final friendliness of the population positively and 85% feel welcome.
So why has Mexico fallen after two years at the highest? “The biggest drop – although far from dramatic – is in the Personal Finance Index, where Mexico slipped from second place in 2023 to seventh place in 2024,” says Zeeck.
Safety also stays a problem: only 66% of expats feel secure, in comparison with the worldwide average of 80%. Combined with average rankings for healthcare and transportation, Mexico ranks twenty fifth when it comes to quality of life.
“To sum up, it’s not that life for expats in Mexico is much worse now than it was last year. It’s just that Panama has made bigger leaps up the rankings and has also seen slight improvements in more individual factors than Mexico,” says Zeeck.
A bunch of friends rejoice Indonesian Independence Day.
Rising stars
Some countries that made notable jumps include Indonesia, South Korea and Belgium. This 12 months, Indonesia rose from thirteenth to 3rd place. Expats appreciate the low price of living, friendly locals and excellent work-life balance, with 84% of respondents reporting overall satisfaction.
Expats in Indonesia also profit from shorter working hours and a positive work-life balance, which contributes to the country’s high rating within the Working Abroad Index. Housing affordability and overall financial satisfaction are other plus points, with many expats finding their income sufficient to live comfortably. “You definitely need less money to live comfortably here,” says one US expat.
South Korea made a powerful recovery from its place in the underside 10 in 2023, rating fiftieth out of 53 countries. This 12 months, South Korea shot up the list, rating twenty third in 2024.
The biggest gains are in the world of personal funds, with South Korea improving from a below-average thirty seventh place to fifteenth place in 2024. “Not only do expats feel that their disposable household income is sufficient for a comfortable life, they are also less likely to complain about the cost of living,” says Zeeck.
The improvements in the standard of life (seventeenth to tenth) and dealing abroad (forty sixth to thirty seventh) indices will not be quite as noticeable, but additionally contribute to South Korea’s significantly improved rating.
Jumping 20 places within the rating, Belgium (now 18th) is one other big winner in 2024. “Unlike South Korea, Belgium’s results in the Personal Finance Index have barely changed (25th to 23rd),” says Zeeck. “But it jumped onto the podium for the Working Abroad Index 2024 (21st to 3rd).”
Expats even have a more positive assessment of their work-life balance (71% satisfied vs. 65% in 2023) and their personal profession opportunities.
A snowy scene in Helsinki, Finland, where expats will not be so glad.
The happiest country: Not a glad result
It’s shocking to see Finland – at all times known as the happiest country on the earth – plummet so dramatically. “Finland was indeed the ‘biggest loser’ in this year’s Expat Insider ranking. However, it must be said that the country’s 16th place in 2023 was rather an exception; in 2022 and 2021, Finland had ranked 32nd and 39th respectively,” says Zeeck.
Finland is weak within the indices “Settling in” (fiftieth), “Working abroad” (forty sixth) and “Personal finances” (52nd). Learning the language can also be difficult and the weather has its pitfalls: climate and weather are the worst performers within the index, with only 31% of expats rating it positively, in comparison with 58% worldwide.
“It is possible that the issues of working abroad and personal finance, which play such a large role in Finland’s decline, have a greater impact on the satisfaction of the majority of expats than on the satisfaction of the local population,” says Zeeck. “Expats tend to compare their country of residence with their home country or other countries they have lived in before, especially when it comes to career opportunities and salaries.”
“Overall, we look at areas of life that are either not necessarily relevant for locals (such as the Settling In Index or the language subcategory in the Index of Most Important Things for Expats) or pose fewer problems for locals (such as housing),” says Zeeck. “I therefore believe that the contrast between Finland’s happiest people in the world and Finland’s poor performance in our ranking is partly due to the fact that we look at the expats’ perspective on life in Finland in isolation.”
The United States didn’t fare so well within the expat report.
The state of affairs within the United States
The US has dropped significantly in its rating, falling to thirty fifth place in 2024, after rating thirtieth in 2023 and 14th in 2022. “We have not seen a significant decline in any of the individual indices, just a small decline in the average ratings for most factors,” says Zeeck.
Expats rank the US forty sixth out of 53 countries when it comes to quality of life, citing expensive healthcare (53rd) and safety concerns (forty eighth) because the predominant problems. Only 19% rate the affordability of healthcare nearly as good, in comparison with 58% globally. The US also ranks poorly when it comes to political stability and affordability and availability of public transportation.
In terms of adjustment, the U.S. has dropped from nineteenth in 2022 to twenty eighth in 2024, attributable to the problem expats have making local friends and navigating social life. “Only 47% of expats are satisfied with their social life, and only 38% find it easy to make local friends,” says Zeeck.
Kuwait: The fighting continues
Kuwait stays at the underside of the list for the seventh 12 months in a row. Expats in Kuwait report low satisfaction in areas reminiscent of quality of life, acclimatization and private funds.
“In summer the warmth can rise above 50°C [122 degrees fahrenheit]“, says an Austrian expat, highlighting the intense weather conditions as a significant drawback.
Expats in Kuwait also struggle with public transportation and constructing a supportive social network. Only a small percentage of expats find the local population to be friendly towards foreign residents.
A tropical island within the San Blas archipelago in Panama.
Expat rating: How the countries performed in 2024
- Panama
- Mexico
- Indonesia
- Spain
- Colombia
- Thailand
- Brazil
- Vietnam
- Philippines
- United Arab Emirates
- Costa Rica
- Oman
- Saudi Arabia
- Kenya
- Portugal
- Australia
- Qatar
- Belgium
- China
- Luxembourg
- Hong Kong
- Malaysia
- South Korea
- Austria
- Denmark
- Netherlands
- Greece
- Poland
- South Africa
- Singapore
- New Zealand
- India
- Bahrain
- Switzerland
- USA
- Cyprus
- Japan
- France
- Czech Republic
- Chile
- Egypt
- Sweden
- Hungary
- United Kingdom
- Ireland
- Malta
- Italy
- Norway
- Canada
- Germany
- Finland
- Türkiye
- Kuwait
More from Forbes:
