InterNations just published their annual Expat Insider survey — the biggest global study of expat financial well-being. The 2026 edition covers 31 destinations. Panama is #1 for the third year in a row. Canada is dead last. Germany just fell into the bottom 10. Here's what the numbers actually mean if you're deciding where to base yourself.
The top performers aren't necessarily the richest countries — they're the ones where your income, whatever it is, buys you something. Southeast Asia and Latin America dominate, but this year Europe got three entries.
90% say their income is enough for a comfortable life (vs. 71% globally). 76% satisfied with their financial situation. Cost of living rated positively by 69%. One in ten expats moved here specifically for financial reasons — 3× the global average.
85% rate the cost of living positively — the most affordable country for expats worldwide. 40% of expats there are retired (vs. 14% globally). The retirement destination that still works financially in 2026.
73% satisfied with finances, 81% say income covers comfortable living. Cost of living rated positively by 57%. Still a top choice for North Americans doing geo-arbitrage.
💡 Top 10 summary: 🇵🇦 Panama · 🇹🇭 Thailand · 🇲🇽 Mexico · 🇵🇹 Portugal · 🇲🇾 Malaysia · 🇧🇷 Brazil · 🇵🇱 Poland · 🇪🇸 Spain · 🇿🇦 South Africa · 🇧🇪 Belgium. South Africa made a major jump from the bottom half last year — one to watch.
Four European countries made the top 10, which is unusual. Portugal (4th), Poland (7th), Spain (8th), and Belgium (10th). The first three score well on cost of living — Portugal and Spain because prices remain manageable for foreign earners, Poland because it's genuinely cheap by Western standards.
Belgium is the outlier: cost of living isn't great, but expats there tend to earn significantly more. The math works out differently — higher costs, but higher paychecks to match.
"Four of the top 10 countries are located in Europe. With the exception of Belgium, they all perform well for the cost of living. The higher cost of living in Belgium is at least partially offset by respondents' higher gross yearly income there."
💸 Moving to Europe? Compare transfer costs to your destination before you go.
Compare Transfer Fees →The bottom 10 is dominated by Western Europe and English-speaking countries. If you're earning a local salary in these markets, money doesn't feel like it goes far.
Only 51% say their income is enough for comfortable living — last worldwide. Just 40% are satisfied with their financial situation. 66% rate expenses negatively. Pre-move concern about high costs: 32% (vs. 21% globally).
Last place for cost of living worldwide — only 17% rate it positively. Overall financial satisfaction: just 39%, the worst result globally. Norway also ranks last in the overall Expat Insider survey.
40% say income isn't enough for comfortable life. Only 21% rate cost of living positively. One expat's take: "After Brexit, the UK economy is in serious trouble. The cost of living is way high and affordable housing is impossible."
⚠️ New in 2026: Germany (23rd), Switzerland (25th), and the USA (24th) all dropped into the bottom 10 — new additions this year. If you're planning a move to these destinations, budget for high living costs.
| Country | Rank | Income Sufficient | Financially Satisfied | Cost of Living (Positive) |
|---|---|---|---|---|
| 🇵🇦 Panama | #1 | 90% | 76% | 69% |
| 🇹🇭 Thailand | #2 | 78% | 64% | 85% |
| 🇲🇽 Mexico | #3 | 81% | 73% | 57% |
| 🌍 Global Average | — | 71% | 55% | 39% |
| 🇩🇪 Germany | #23 | ~65% | ~48% | ~25% |
| 🇺🇸 USA | #24 | ~62% | ~52% | ~22% |
| 🇬🇧 UK | #29 | 60% | 45% | 21% |
| 🇳🇴 Norway | #30 | 65% | 39% | 17% |
| 🇨🇦 Canada | #31 | 51% | 40% | ~34% |
South Africa jumped from the bottom half to 9th place — the biggest single-year move in the rankings. The interesting thing: expats there aren't particularly satisfied with their financial situation (25th). But the cost of living is rated highly (7th worldwide).
The pattern is familiar to anyone who's lived in emerging markets: you feel stretched but everything around you is cheap. Groceries, restaurants, services — it all costs less. For remote workers earning in USD or EUR, this gap creates a meaningful quality-of-life upgrade.
The index measures three things: financial satisfaction, cost of living, and whether income covers comfortable living. These don't always move together.
If you earn locally: The top 3 (Panama, Thailand, Mexico) are genuinely affordable. Your local salary goes further. Canada, Norway, and the UK destroy purchasing power.
If you earn remotely in USD/EUR: The game changes. Germany at #23 and the UK at #29 still offer higher nominal salaries than Mexico — but if your income is location-independent, you're effectively choosing how much of it to waste on rent and groceries.
The geo-arbitrage calculation: A $60,000 remote income in Panama (90% comfort rate) feels completely different from the same income in Canada (51% comfort rate). The money is identical. The life is not.
💡 The real insight from this survey: Financial satisfaction isn't just about income — it's about the ratio of income to cost of living. Countries that score well tend to have that ratio in expats' favor, not necessarily the highest absolute salaries.
Whatever country you land in, you'll be moving money — from a home bank, to a local account, back and forth. Transfer fees add up fast. A 1% fee on $5,000/month is $600/year you lose before you even start geo-arbitrage.
🌍 Heading to Panama, Thailand, or Mexico? See real-time transfer rates before you move.
Compare Rates Now →The 2026 Expat Insider data is unusually clear: Southeast Asia and Latin America win on purchasing power, full stop. Europe isn't gone from the picture — Portugal, Poland, Spain are solid — but Western Europe's traditional destinations (Germany, UK, Norway) are now financial drags.
Canada's third consecutive last place finish is a story in itself. A decade ago it was a dream destination for immigrants and expats. In 2026, nearly two-thirds of expats there rate expenses negatively. That's a structural problem, not a temporary dip.
The numbers don't tell you where to be happy. But they do tell you where your money works — and where it doesn't.
Source: InterNations Expat Insider 2026 Personal Finance Index — survey of expats in 31 countries.