Sri Lanka revealed as the cheapest place to work from, as the first Digital Nomad Rich List is released

Sri Lanka revealed as the cheapest place to work from, as the first Digital Nomad Rich List is released

• New analysis has revealed that Sri Lanka is the best place for remote workers to get the most out of their earnings 

• The inaugural Digital Nomad Rich List has been released to reflect the rise in countries offering digital nomad visas

• Analysing the average cost of living (rent, food, transport and utility bills) in the countries currently offering the visa, the rich list shares with Brits the cheapest countries to work from remotely 

• Sri Lanka is the country where earnings will go furthest, with the average Brit pocketing £2,282 of disposable income[1]

• In comparison, Bermuda is the most expensive country to work from, leaving the average Brit in debt after bills are covered (- £1,345)

• According to official statistics, over a sixth (16%) of employees in UK [2] - approximately 5.2 million people[3] - work remotely

It’s been revealed that Sri Lanka is the best place for remote workers looking to grow their wealth or make the most of their earnings, as the first Digital Nomad Rich List has been released.

The rich list, which reveals the most and least expensive places to work remotely, has been created by leave management platform, Flamingo App. The introduction of digital nomad visas around the world has seen over 50 countries offer remote workers, freelancers, and digital entrepreneurs a temporary residential permit[4]. The visa allows remote workers to live and work in that country for a specified period, whilst being employed and earning an income from a business based outside of that country.

Analysing the average cost of living in the countries currently offering digital nomad visas around the world[1], Flamingo App then compared the average outgoings in each location with the average full-time salary in the UK to discover how much disposable income remote working Brits would pocket.[5]

Sigiriya, Sri Lanka (image credit Canva)

According to the analysis, Sri Lanka is the best place for remote workers to live a wealthy life, with the cost of living totalling just £492, leaving the average Brit living in the country with £2,282 of disposable income each month.

The full Digital Nomad Rich List can be found here: https://flamingoapp.com/cheapest-places-for-digital-nomads/

In comparison to the countries analysed, the UK would rank eighth in the list of the most expensive countries to live in. With the cost of living in the country totalling an average of £1,674, the average Brit living and working in the UK pockets £1,100 of disposable income a month after rent, food, transport and utility bills (excluding tax), which is half of what they would have if they were to live in any of the top five countries on the rich list.

According to national statistics, a sixth (16%) of employees in the UK [2] - approximately 5.2 million people [3] - work fully remote. Additionally, a further quarter (28%) of people work hybrid, splitting their time between home and the office.

David Hehenberger, Founder of Flamingo App said,

"Remote work isn't just a necessity anymore; it's an opportunity for a richer life experience. With over 50 countries currently offering digital nomad visa’s across the world and over 5.2 million Brits working remotely, these visa’s present an invaluable opportunity to work from anywhere. As more people travel overseas to work remotely, we wanted to discover what countries are the best places to call home and find out where you’ll get the best value for your hard-earned money.

“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. Remote work doesn't have to be confined to our familiar surroundings; it can be the gateway to global experiences, cultural immersion, and financial empowerment. The world is your office."

[1]https://www.numbeo.com/cost-of-living/ 

[2]https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/employmentandemployeetypes/articles/characteristicsofhomeworkersgreatbritain/september2022tojanuary2023 

[3]https://www.statista.com/statistics/281998/employment-figures-in-the-united-kingdom-uk/ 

[4]https://visaguide.world/digital-nomad-visa/ [5]https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/earningsandworkinghours/bulletins/annualsurveyofhoursandearnings/2022