Digital Nomads are productive people, who don’t feel like doing classic corporate job. They are looking for alternative way of how to make a living, which can be, thanks to the internet, provided from anywhere in the world. They can work remotely while traveling and discovering themselves in new parts of the world. For a long time was Bali, the island in Indonesia, or Chiang Mai in Thailand, the most attractive places for Nomads because of its exotic beaches and low operating costs. But given the actual trends it is obvious that Nomads took a fancy to cities in Central Europe such as Budapest, Prague and Tallinn. So not only exotic islands but also these cities are up-to-date digital paradises.
Budapest and Prague with great ratings and low operating costs
Network of digital nomads is currently growing by speed of light and more people from all around the world lean towards similar way of life. Some European countries from former Eastern block that went through a huge transformation during last 20 years became in certain way an exotic for Nomads. They are modern European cities with low operating costs, great social and cultural activities and modern entrepreneurial drive – and according to Numbeo “cost of living comparator” even to half the cost compared with London, Brussels or Paris. Cities such as Budapest or Prague are appearing on leading positions in popularity of digital Nomads, and also with excellent reviews. According to world ranking – Nomad List – that is based on reviews and created by nomads themselves, Budapest is on the top position, and Prague in on the third place. Both of these capitals beat hundreds of other cities around the world and lot of digital geeks meetings are held in them.Both cities have great flight connections.
Alessandro is digital nomad from Italy and he spent one year working and living in Budapest. He found job on the place and it took him couple of weeks, as he remembered: “It was easy for me to find job as help desk assistant as the company was looking for people with native language different from Hungarian. I worked part time with Italians in the team. Full time would be enough to live there with western standards of living. Budapest is beautiful itself, amazing buildings and landscapes. City has mostly good WIFI everywhere, fast and not expensive.” What Alessandro didn’t like was cold winter there, so he preferred to move southern. According to Paylab the average salary in Budapest is 1230 eur brutto and in Prague 1345 eur brutto.
Tallinn in Estonia is digital heaven for nomad’s entrepreneurs
The next significant destination is the capital of Estonia – Tallinn, because it offers professional digital business support to the “entrepreneurs on the roads”. According to Numbeo Cost of Living comparison, Tallinn is little bit more expensive in comparison with Budapest and Prague, but Estonia is tagged as a digital tiger thanks to its national e-residency program, which drags entrepreneurs to create a virtual residency in this country that is by the way a member state of European Union. Thanks to the digitalization of state and public administration and smart technologies, it is possible to easily and effectively manage your business even if you are sitting on a beach with your laptop. It allows online tax filling, remote online administration, digital signing of contracts and documents, ability to hold euro and multicurrency accounts and low share capital requirements. Thanks to these conveniences, Estonia is loved by Nomads and start-up communities.
On a blog of Canadian Nomad Soheila, you can find out how easy is to start a company offshore. Marko Kažić, digital nomad who have spent 3 years living in Europe, Russia and Asia is native from Serbia. He also decided to register his company Zamphyr (Serbian online school for computer science) in Estonia. He says: “The benefit is clearly – lower tax, access to the EU market, but mainly its transparency and security that a procedure will be implemented consistently which I cannot say is the same in Serbia. Payment processing of credit cards is practically impossible in Serbia, it’s not even a matter of euro currency or something else – we just need to charge cards which is really really hard to do from Serbia.“
Compare your salary standard with citizens in Central and Eastern Europe
For better orientation in given realia, the international salary comparator Paylab published average monthly incomes of employees in selected capital cities in Central and Eastern Europe. Digital Nomads can easily compare their gross monthly income to incomes of ordinary people in these cities. This comparison shows that there are significant differences in salaries – especially in Baltic countries.