Summary
Introduction to Relocation Costs
One of the greatest joys of traveling is experiencing unfamiliar destinations and discovering such delight that you consider relocating there. However, the thought of moving to another country can feel daunting for many individuals.
The Relocation Calculator Tool
To assist, the team at expat insurance company William Russell has developed a fun and informative tool called the Relocation Calculator. This simplified calculator allows both Americans and Brits to determine the average monthly living costs in over 30 countries, making the first step toward relocation much easier.
Top Affordable Countries for Expats
Distance plays a significant role in relocation costs. The relocation calculator indicates that Canada ranks as the most affordable country for U.S. expats, followed closely by Mexico. Moreover, other nations that made the top ten list of most affordable countries to relocate to include:
- Ireland
- Belgium
- Germany
- France
- Italy
- Netherlands
- Luxembourg
Methodology Behind the Data
William Russell assessed each of the Organization for Economic Co-operation and Development (OECD) countries, calculating the monthly cost of living based on rent for a one-bedroom apartment in the city center. The data was sourced from Numbeo, which provides valuable insights into living expenses. Additionally, they incorporated average wage data from the OECD.
Furthermore, they considered moving costs based on shipping three 25-kilogram (approximately 55.1-pound) packages using MyUS.com. Additionally, flight costs from Skyscanner, departing from either New York City’s JFK or Los Angeles International (or London Heathrow for UK rates), were included, noting that all data is as of Jan. 9. It is vital to mention that currency conversions were based on older rates from XE.com from March 2022.
That said, it is important to note that these figures should serve for comparison purposes rather than serving as exact total costs, as numerous other factors and associated expenses have not been accounted for in this analysis. Therefore, for comprehensive information on how to prepare for an international move, consider exploring resources that directly discuss moving abroad.
