The world of remote work and digital nomadism is growing at an unprecedented rate. With more and more people taking the leap to work from anywhere in the world, it’s important to know which locations offer the best mix of cost of living, rental costs, lifestyle, internet speed, entry criteria, and climate. In this blog post, we will explore the top five digital nomad locations to move to in 2023, based on these factors.
Top 5 Affordable Digital Nomad Locations to Move to in 2023
Bali, Indonesia
Bali has long been a favorite among digital nomads due to its low cost of living and beautiful scenery. In 2023, the average monthly cost of living in Bali is estimated to be around $800, with rental costs starting from $300 per month. Internet speeds in Bali can vary, but there are plenty of coworking spaces with high-speed internet. Bali also has a warm tropical climate year-round, making it a great escape from the cold. Depending on the season, the cost of accommodation and airfares will vary. From my experience, Bail is a very relaxing place. The upside is it’s an excellent place to relax and chill. The downside is it may be too much of a relaxing environment and may not be the ultimate environment for growth. its more of a place for a work-life balance.
Chiang Mai, Thailand
Chiang Mai is another affordable digital nomad destination with a low cost of living and a thriving expat community. The average monthly cost of living in Chiang Mai is around $700, with rental costs starting from $200 per month. Internet speeds are generally fast, with many coworking spaces offering high-speed internet. Chiang Mai has a tropical climate with warm temperatures year-round, and it’s also a great place to explore the nearby mountains and countryside. Similar to Bali, it’s got a relaxing vibe. There are a lot of coworking spaces and it’s easy to a nomad to move to,
Lisbon, Portugal
Lisbon has become a popular digital nomad destination in recent years, with its combination of affordability and European charm. The average monthly cost of living in Lisbon is around $1200, with rental costs starting from $500 per month. Internet speeds are generally fast, with many coworking spaces offering high-speed internet. Lisbon has a Mediterranean climate with mild winters and hot summers. There is more of an urban vibe with historical old town feel. Lisbon has a large number of wine and tapas bars.
Mexico City, Mexico
Mexico City is a vibrant and affordable digital nomad destination with a rich culture and history. The average monthly cost of living in Mexico City is around $1000, with rental costs starting from $400 per month. Internet speeds are generally fast, with many coworking spaces offering high-speed internet. Mexico City has a subtropical highland climate with mild temperatures year-round.
Hanoi, Vietnam
Hanoi is an up-and-coming digital nomad destination with a low cost of living and a rich history and culture. The average monthly cost of living in Hanoi is around $600, with rental costs starting from $200 per month. Internet speeds can be slower in Hanoi compared to other destinations, but there are still plenty of coworking spaces with fast internet. Hanoi has a tropical climate with hot summers and mild winters.
The cost of living may vary depending on your choice of lifestyle. If you are someone who likes to cook and eat local, the cost is lower. If you like fine dining, it will be higher. If you are going as a family of four, the accommodation cost will go up, international school fees will need to be taken into account.
One more thing! When getting around different countries and trying to transfer funds around, I use TransferWise (Known as Wise). This is a multicurrency card used by digital nomads all around the world. it’s the “Most International Debit Card in the World”. You do not need to wait for the physical card. You can use it via Google or Apple Pay straight away. It only takes about 5 minutes to set up. I’ve included a link to the latest deal. If you sign up using this link, you’ll get up to a fee-free transfer up to $1000 when you sign up with this link. Click here to go to Wise.