By: Staff Writer
Colombo (LNW): Sri Lanka has been ranked as the cheapest country to work as a digital nomad while experiencing the island nation’s scenic natural beauty and local hospitality, new international research revealed.
For those not clued-up, these particular visas allow remote workers to live and work in that country for a specified period, while being employed and earning an income from a business based outside of that country.
Foreign remote workers in the digital technology field have now been given an opportunity to visit Sri Lanka and stay in the island for some time while working on serene beaches or by tranquil pools was once a dream for many.
This was the result of the government’s decision to issue Digital Nomad Visa for foreign workers in the digital technology field.
To be eligible for the visa, you will need to have at least a $ 2,000 monthly income, which should be channeled through the Sri Lankan baking system.
The visa holder will also be eligible to renew it every year once they show the minimum bank balance required. Applicants will also have to pay a $500 application fee. The fee will cover the visa holder’s spouse and dependents.
Those who travel to Sri Lanka on Digital Nomad visa will not be allowed to work in the country or engage in economic activities of the country
It’s now very much a reality. Working remotely is surging in popularity and, as a result, a growing number of countries are now offering digital nomad visas to entice people over the world
And new research has analysed the cost of living in the countries offering these visas, to reveal the best for remote workers to get the most out of their earnings.
So, if you’re considering packing up and working elsewhere, there are certain cheaper spots that should be on your radar.
According to the Digital Nomad Rich List created by Flamingo App, Sri Lanka is the country where your money will go furthest.
Based on the average UK salary, the data found that cost of living in Sri Lanka comes to just £ 492 per month (on rent, food, transport and utility bills), so the average Brit is expected to pocket around £ 2,282 of disposable income.
Argentina, Colombia and North Macedonia, Indonesia and Malaysia also ranked within the top five cheapest countries for digital nomads – according to this report.
However, the most expensive countries to work remotely in were also named, with Bermuda scooping the top spot, followed by the Cayman Islands and Iceland. The UK also placed eighth on the most expensive list.
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.
