Best and Worst Cities in the World for Expats’ Financial Stability in 2023
Financial stability is one of the important aspects that expats consider when choosing a place to move to. MoneyTransfers, an organization, conducted an interesting study, resulting in a ranking of the best and worst cities in the world in terms of expats’ financial stability.
It is important to note that the ranking took into account not only income levels but also the ratio of salaries to the cost of living. So, the top 3 cities where expats feel most comfortable in terms of financial satisfaction are Mexico City (Mexico), Bangkok (Thailand), and Valencia (Spain).
Table of the best cities for expats:
| Position | City | Country |
|---|---|---|
| 1 | Mexico | Mexico |
| 2 | Bangkok | Thailand |
| 3 | Valencia | Spain |
Why are these cities specifically in the lead? One of the key reasons is low housing rental costs. This is an important factor since rent can take up a significant portion of expats’ income.
However, there are also cities where immigrants face financial difficulties. Vancouver (Canada), London (United Kingdom), and Paris (France) ended up in the ranking of such cities. Here, the main reason is high housing rental expenses.
Table of the worst cities for expats:
| Position | City | Country |
|---|---|---|
| 1 | Vancouver | Canada |
| 2 | London | United Kingdom |
| 3 | Paris | France |
Why is financial stability so important? It is because expats who feel confident in their financial situation are usually happier and adapt more easily to their new life in another country. They can focus on their goals and not worry about money. On the other hand, expats who are constantly concerned about their financial position may suffer from stress and dissatisfaction.
Therefore, when choosing a place to relocate, it is worth considering this factor. All else being equal, it is better to choose a city where living expenses will be lower. This will help ensure financial stability and confidence in the future, which in turn promotes better adaptation and a happy life in the new country.
