Cost of living: Data reveals best countries to move to, stretch money further

Australia has reciprocal working holiday arrangements with 45 countries. See how rent, grocery prices and general cost of living compares for each.

Skyrocketing inflation, almost-stagnant wages and the return of international travel has made 2022 the perfect year to pack up and move overseas.

Analysis reveals seven countries where Aussies can potentially halve their cost of living pressures – and work as they travel.

Recruitment agency Robert Half director Nicole Gorton says there has “absolutely” been increasing inquiries from Australians wanting to live and work overseas now that international borders have reopened and more flights were being scheduled.

And Australian Bureau of Statistics figures show travel is beginning to return to pre-pandemic levels.

The ABS recorded 21,680 long-term and 608,190 short-term Australian resident departures in August – up from 5390 and 16,720 last year, respectively.

In August 2019, before the pandemic, those figures were 26,460 and 958,520.

WHERE SHOULD YOU GO?

The Department of Home Affairs lists 45 countries and jurisdictions with which Australia has reciprocal working holiday arrangements.

Each has its own eligibility criteria but typically allows Australians to stay for up to 12 months and undertake short-term work and study.

Turkey offers the best bang for buck for Australian workers living overseas. Picture: iStock

Of these 45 overseas options, crowdsourced global database Numbeo reveals 37 offer a more affordable cost of living than Australia.

Turkey tops the list, with consumer prices – excluding housing – on average 59 per cent lower than here.

Its rents are 80 per cent cheaper, groceries 66 per cent cheaper and restaurants 70 per cent cheaper.

Other standout options where Aussies can make their money stretch further include Peru (consumer prices 55 per cent lower), Indonesia (54 per cent), Argentina and Mongolia (both 53 per cent), Malaysia (52 per cent), and Vietnam (50 per cent).

New Zealand is not included in the 45 countries as no visa is required, but Australians can also live, work and study there with consumer prices on average 5 per cent lower than here.

GET GLOBAL EXPERIENCE

Apart from the potential cost of living benefits, Ms Gorton says international work experience looks good on a resume.

“Working overseas is a popular career goal amongst Australians, particularly those in the earlier stages of their career,” she says.

“The past few years of closed borders have made international movement a challenge while the stasis has given a lot of people itchy feet so it is natural that we are seeing increased inquiries about overseas jobs now.

Robert Half‘s Nicole Gorton says a stint working overseas is a good career move. Picture: Supplied

“Adding international work experience to your resume can provide lasting benefits to your career, demonstrating your depth of experience and a global outlook – and it’s a great life experience.

“Those who have worked in a multinational organisation from Australia or who hold a globally recognised certification, regardless of industry or profession, will stand out to international employers.”

Ms Gorton says broadly speaking, Australian workers are well-regarded globally.

LIVING THE LIFE

Former Brisbane resident Gordon Mills moved to Austria about a year ago to be with his girlfriend, Teresa Kraus, who he had met while travelling.

He is working there on a Red White Red visa and says the cost of living is noticeably lower than here.

Brisbane’s Gordon Mills and his partner Teresa Kraus are living in Austria. Picture: Supplied

Numbeo figures showed Austrian consumer prices are about 9 per cent more affordable than in Australia, with rent averaging 36 per cent less expensive and groceries 20 per cent less expensive.

“You could live relatively cheaply here, save and travel on the weekend,” Mr Mills says.

“Austria has nine neighbours and is pretty welcoming and well-connected by rail, bus and plane – and you can get by speaking English.

“Vienna is an international city and was voted most liveable recently, too.”

Originally published as Cost of living: Data reveals best countries to move to, stretch money further