There’s been a seismic shift in the ways companies are working in the wake of the pandemic. Defying the longstanding tradition of being chained to an office, a wide array of companies—ranging from the social media platform Twitter to global accounting, audit and tax giant PwC—have embraced remote work.
After nearly two years of working from home, executives have recognized that this unintended mass experiment has been highly successful. The record-setting stock market shows that major companies did not suffer with this new setup, and actually handsomely thrived.
CEOs were delighted with their lofty stock prices and employees greatly appreciated their freedom and better quality of life. Two-plus-hours round-trip commutes were gone and the time gained back was constructively utilized to be both productive and spend precious time with family, friends, hobbies and taking care of their physical, mental, emotional and spiritual health.
An exciting aspect of the distributed workforce model is that people realized they didn’t have to just work from home. Many companies were open to their employees relocating to other locations. Unfortunately, some downgraded the salaries of those who moved from high-priced cities, such as New York and San Francisco to lower-cost locations. Nevertheless, workers started leaving high taxed, costly, crime-ridden, cold-weather cities for sunnier climates with lower tax rates, affordable housing and good public school systems.
Adventurous folks felt wanderlust and decided to become digital nomads or settle in exotic, interesting cities that were far from home. Equipped with a laptop, smartphone and all of the technology and software needed to seamlessly connect with bosses and colleagues, a person could work from anywhere in the world.
Job van der Voort is the CEO and cofounder of Remote, a company that makes it easy for companies to enable their employees to work in far off locations by taking care of all the tax forms, paperwork, payroll, benefits, taxes, compliance and residential requirements to manage full-time and contract workers, as well as digital nomads.
Van der Voort said about this growing movement, “For a long time, workers were restricted to living near major urban hubs if they wanted to access the best job opportunities. The freedom to work from anywhere opens the door for employees to choose their home—or travel—without compromising their work.”
If you are intrigued by the possibility of moving to an old-world European city, tropical island with bright blue waters and sunshine all the time, or moving from place-to-place, it’s now possible to pack your bags and make it happen.
Remote conducted an in-depth “statistical analysis and evaluation” dive into the best places around the world and in all fifty U.S. states to work. Its “Best Destinations for Remote Work” study analyzed “locations from every country in the world to determine the best places to work remotely.”
The criteria measured for its top 100 destinations were based on factors, including internet infrastructure, attractiveness, safety, quality of life, openness, the cost of living and incentives offered by the host country.
When attributing equal weights to all seven components, the top 10 destinations for remote work are as follows:
- Toronto, Canada
- Madrid, Spain
- Auckland, New Zealand
- Madeira, Portugal
- Helsinki, Finland
- Svalbard, Norway
- Berlin, Germany
- Valparaiso, Chile
- Dublin, Ireland
- Sydney, Australia
Some highlights of the study:
- The best quality of life for remote workers include Auckland, New Zealand; Honolulu, Hawaii; Sydney, Australia and Reykjavik, Iceland.
- The most open-minded places are Stockholm, Sweden; Toronto, Canada and Amsterdam/Netherlands.
- The best incentives for digital nomads through its “One Happy Workation” program is Aruba.
- The largest cash incentive goes to Emilia Romagna, Italy. The city pays young families (under 40 years old) $34,000 to relocate.
- Money offered to rent or buy a home is an enticement for workers to move to Topeka, Kansas, as it provides up to $5,000 in funds to rent in one’s first year and up to $10,000 in funds for a home purchase as a relocation incentive.
- Colorado grants employers cash awards for each remote worker employed in an eligible rural county outside the county where the project is based.
- Tax exemptions: Remote workers in Cabo Verde are exempt from income tax.
- Low-income requirements: Ecuador offers a professional visa that offers the lowest monthly income requirement of any country at $400.
- Best housing incentives: St. Louis, Missouri has the best housing incentive where individuals can purchase city-owned property for only $1.
- None of the top 10 cities were located in the U.S.
In addition to the best-of listings, van der Voort’s team put together an “interactive ranking tool” to assist people in figuring out what the best options are for them. “With so many possibilities, our interactive ranking tool aims to find the perfect destination for everyone based on what they value most. We’re excited to share this truly global database and interactive tool to empower remote workers and global employers.”
Source: Forbes
