As digital nomads seek destinations that balance affordability with infrastructure, South Africa has emerged as one of the most financially advantageous locations for remote workers.
This is according to a study by financial services provider Nebeus that highlights South Africa as a prime destination where digital nomads can maximise their savings while benefiting from a high quality of life.
The study reveals that South Africa ranks as the fourth most popular destination for digital nomads and is among the most affordable places to live, with an average cost of living of approximately $1 000 per month.
The country provides an appealing combination of low expenses, modern amenities, and scenic landscapes, making it an increasingly attractive choice for location-independent professionals.
Key insights from the study include:
- Most Popular Professions: The study identifies technology, creative, and marketing fields as the dominant industries among digital nomads.
- Origins of Digital Nomads: The majority of digital nomads come from Western countries, with the US leading as the most common country of origin (43%). Other top sources include the United Kingdom, Russia, Canada and Germany.
- Affordability Rankings: South Africa ranks as one of the most cost-effective destinations for digital nomads, with total monthly expenses averaging $1 000. Other highly affordable locations include Argentina ($709) and Malaysia ($769).
- Home Country Cost of Living: Digital nomads often relocate from high-cost countries in search of more affordable lifestyles. The U.S. has the highest total cost of living at $2,935 per month, followed by the UK ($2 387), Canada ($2 497), and Australia ($2 656). In contrast, Russia ($912) and Brazil ($920) offer significantly lower living costs for remote professionals.
One of the most significant advantages digital nomads experience is the ability to increase their savings while maintaining the same income. The study reveals that relocating to a more affordable destination can lead to substantial financial benefits:
- An Australian accountant earning $4 661 per month could increase their disposable income by 91% by relocating to South Africa, reducing their monthly expenses from $2 748 to just $1 000.
- A UK-based professional earning $6 466 per month could significantly improve their financial stability while benefiting from South Africa’s affordable housing, lower cost of living, and modern infrastructure.