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Lindsey Patterson

How living in a different country can help you financially

3 min read

If you are afraid of moving abroad thinking about the costs and expenses then there is also a bright side to moving abroad. Moving abroad can give you the financial freedom you always wanted. There are many ways that you can get benefitted by moving abroad financially. In this article, some of the financial benefits of moving abroad are discussed.

More income

Moving to a new country open new doors for you. It depends on what you want to do abroad specifically to determine if it is a wise move to settle in another country. There are many multinational companies that highly values academic excellence. For example, if you are an accountant in the United States working in a multinational company which has a branch in Bahrain. The economy of Bahrain is growing steadily and they would pay you double to do the same job that you do in the USA if you move to Bahrain. They want the expertise you bring to the table and want to use that to develop their company. Not just Bahrain but many of the countries in the Middle East hires the most qualified people all over the world with high salary to work for them. If you are looking for more income you can check for job circulars internationally that matches your job experience and gives you an opportunity to earn more.

New opportunities and extra benefits

By moving to a new country you can get extra benefits from the company that is hiring you. Going back to the previous example where you are offered a job in Bahrain. You would most likely be offered accommodation from the company which would take care of your living expense to a great extent. You would get more advantages abroad than your own home country as they would need you more. There are many people that travel from the USA to countries like Japan, China, and other Asian countries to work as an English teacher. They get paid more because the people there realize the value of learning the English language. Even if you are not a professional teacher in the USA, or you haven't done your graduation in English, they would still hire you as they need teachers that are experienced in speaking English. Similarly, if you have a skill that is very common in your native country and it is too competitive there you can start looking for countries that can be benefitted by your skill. Moving to those countries can help you earn a lot more than what you are making in your native country and the competition will also be reduced.

Picking up new skills

When you move to a new country you get accustomed to their culture and your knowledge enhances. Your view gets broaden knowing more about a different culture. This knowledge can help you financially as well. You can think of ways to add value to their life by bringing in a new type of service that might be useful to them. You can also learn from them and use those skills back at your home. As a foreigner, you have the advantage of using the unique culture from back home to them. For example, if you can open a restaurant if you are a chef offering them food from your native country.