InterNations, the world’s largest expatriate network for living and working abroad, recently released a ranking of the happiest countries for foreign nationals, with Panama claiming the top spot in Central America and 5 Asian countries making it to the top ten. Finland emerged as the biggest loser, with Canada’s ranking significantly dropping, while South Korea emerged as the biggest winner.
In this year’s report, Panama was rated as the happiest country for foreign nationals out of 53 countries surveyed, with over 12,500 respondents participating in the survey in February.
Panama, previously ranked third in 2023, was hailed by foreign nationals as the most satisfying country in 2024. Over four-fifths of expatriates (82%) expressed satisfaction with their lives there, exceeding the global average of 68%.
Three-quarters of respondents (74%) were content with their financial situation, a 20-percentage point increase over the global average (54%). Overall, 88% believed their disposable household income was sufficient for a comfortable life, or more than enough (global average of 70%).
The majority indicated that they relocated to Panama for economic reasons, retirement, or for a better quality of life. According to the survey data, new immigrants were most satisfied with the low cost of living, with 71% finding their salaries fair (global average of 58%). They also noted that as foreigners, it was easy to move there and find adequate and affordable housing.
In their leisure time, many foreign nationals expressed enjoyment of Panama’s tropical climate, as well as its beaches, mountains, and rainforests.
“I like many things: my community, the weather, the diversity of terrain (city, beach, highland), cultural activities, diversity of restaurants, people, healthcare, cost of living, and government stability,” said an American expatriate living in Panama.
The InterNations report ranked 53 countries based on five indices: quality of life, ease of settling in, working abroad, personal financial situation, and the “expat essentials” index covering housing, governance, language, and digital life.
According to InterNations’ data, here are the top ten countries that make foreign nationals feel happiest living and working abroad, including the United Arab Emirates, with 5 Asian countries represented, among them Indonesia, Thailand, Vietnam, and the Philippines.
1. Panama
2. Mexico
3. Indonesia
4. Spain
5. Colombia
6. Thailand
7. Brazil
8. Vietnam
9. Philippines
10. United Arab Emirates
Indonesia ranked third for factors such as low cost (4th place), friendly people (2nd place), and good work-life balance (1st place).
Foreigners were satisfied with job opportunities, personal career prospects, and shorter working hours in Indonesia. Respondents reported working just under 39 hours full-time per week, compared to the global average of 42.5 hours per week.
Regarding financial situation, Indonesia excelled in housing affordability. Nearly two-thirds of expatriates (64%) rated it positively, a 30-percentage point increase over the global average (34%). The majority (61%) also agreed that accommodation was easy to find (global average of 45%).
“It’s definite that you need less money to live comfortably here,” said an American expatriate.
Foreign nationals in Indonesia felt at home and easily adapted to the local culture. Impressively, 85% felt welcomed in Indonesia, a 22-percentage point increase over the global average (63%). Over 90% of respondents (91%) believed locals were friendly towards foreign residents (global average of 61%).
However, expatriates were dissatisfied with digital life in Indonesia.
Finland ranked 51st in this year’s ranking. Despite performing well in environmental and climatic (8th place) and digital life (6th place) subcategories, its rankings in ease of settling in (50th place), working abroad (46th place), and personal finance (52nd place) indices were disappointing. Within just a year, the proportion of expatriates satisfied with living in Finland dropped from 78% to 51%.
In the expat essentials index (33rd place), only 38% of expatriates found it easy to find housing in Finland (compared to 45% globally). Language was also a significant barrier, with a high 83% of respondents finding it difficult to learn the local language (compared to 40% globally).
The healthcare subcategory plummeted from 17th place in 2023 to 38th place in 2024. Expatriates were particularly dissatisfied with the availability of medical services.
South Korea climbed significantly in the ranking from 50th place in 2023 to 23rd place in 2024. 70% of expatriates were satisfied with their financial situation in South Korea (up from 57% in 2023). The proportion of expatriates perceiving locals as generally friendly increased by 12 percentage points (64% vs. 52%), with less than a fifth of respondents (19%) feeling like they had no home in Korea, down from 36% in 2023.
Belgium (currently ranked 18th) made a remarkable jump of 20 places in the ranking, becoming the second biggest winner of 2024.
A significant decline in the working abroad index, dropping 32 places, had a major impact on Canada, which fell from 27th place overall in 2023 to 49th place in 2024. Expatriates’ satisfaction with working hours, job security, and the job market significantly decreased.