Spain
Spain remains a popular tourist destination, but its tax environment is increasingly hostile to expatriates. The Spanish tax authority is known for aggressive enforcement, and legal avenues for reducing tax liability are limited. Recent policies have also made it harder for foreign investors and short‑term rental operators (e.g., Airbnb) to operate in major cities such as Barcelona, signaling a broader push against expatriate activity.
Bali, Indonesia
Bali’s reputation as a digital‑nomad haven has eroded as tourism volumes have surged. The influx of visitors has driven up living costs, and the island’s infrastructure is strained by overcrowding. Many expatriates are now looking to alternative locations where prices and crowd levels are more manageable.
Georgia
Georgia once attracted expats with low‑cost real estate and a relaxed lifestyle. Over the past decade, property prices have risen sharply, and urban areas such as Tbilisi show signs of neglect, including visible graffiti and litter. Political instability and declining safety levels have further reduced its appeal as a long‑term residence option.
Thailand
Thailand’s visa regime has tightened considerably. The government has reduced the availability of long‑term visa programs, making it more difficult for expatriates to secure residency. Additionally, tax rules that previously allowed foreign‑earned income to be excluded when brought into Thailand have been revised, diminishing the country’s tax‑advantage for remote workers. As a result, many expats are relocating to jurisdictions with more favorable immigration and tax frameworks, such as Panama and Costa Rica.
Portugal
Portugal’s “Golden Visa” scheme, which once granted residency to investors who purchased property—especially in Lisbon—has been overhauled. Recent changes restrict eligible investments to rural real estate or to funds of uncertain composition, raising concerns for investors. The country also eliminated its non‑habitual resident (NHR) tax regime, which had offered reduced tax rates for foreign income. With a top marginal tax rate now at 45 % and a lengthening naturalization timeline—from five to ten years for citizenship—the overall attractiveness of Portugal for expats has declined sharply. Processing times for the Golden Visa can exceed three years, extending the path to citizenship to roughly fifteen years.
