Many people from the developing world die at sea every year trying to enter Europe illegally. The goal for this audacious journey is the freedom that comes with opportunities to make more money on the continent.
These European countries offer you an opportunity to earn more money and enjoy adventures. But before you make your pick, compare your net salary and the cost of living. You may earn more in a certain country, but it is consumed by the high cost of living, leaving you with nothing to save or invest.
In this article, we will not talk about illegal immigrants in Europe. Rather, this article focuses on the best country in Europe you can work or do business and make money.
If you are a student, you might be interested in reading: 17 Proven Ways Students Can Make Money Online without Investment.
Here are the 6 best European countries to make more money and grow your wealth.
If you have landed a mid-level job in Switzerland, you have hit the jackpot. Few European countries pay well, like Switzerland, especially for mid-level positions.
Let’s assume you got a permanent position in a company as a software engineer with a specific set of skills; you will likely earn €100,000 before tax. Your net salary may depend on the region you live in. Employees living in Zurich will earn around €76,000 per annum.
You will agree that €76,000 is a handsome pay you can invest at home to build wealth, right? One person’s living cost is approximately €17100, meaning you will still have money to save after your basic needs are cared for.
Even if you relocate to Switzerland as an independent contractor in your field, you can expect good pay. A mid-level developer will earn between €500 and €800 daily before tax.
If Switzerland appeals to you, why not research various job opportunities in the country and see whether you make the cut? You may land your dream job and the money that comes with it.
2- The Netherlands
The Netherlands is another European country where you can make more money as an expat. Most professionals love it for its work-life balance and quality of life.
The country actively seeks international investors and entrepreneurs to grow its economy. If you relocate to the Netherlands to advance your entrepreneurial journey, you can take advantage of various government programs to start your own venture or invest in local companies.
The country is stable, with incentives for investors and a strong economy.
Furthermore, the Netherlands is constantly exploring and researching, so expats can find well-paying job opportunities. Since the country is focused on producing sustainable energy for a clean environment, tech and energy gurus can easily find jobs here.
The average monthly salary is $3 025, but the cost of living is relatively high at $975 without rent. Therefore, the Netherlands is not the best destination for temporary non-European workers.
However, if you are career-minded and want to work in the country for many years, you will make a lot of money.
Other benefits for full-time employees include:
- At least 20 vacation days in a year
- 16 weeks of maternity leave
- A holiday allowance
You can see that from the legal and cultural level, society emphasizes a healthy work-life balance.
Nordic countries are popular for their good working environment and handsome remuneration. An international mid-level staff working in Denmark will receive an average of €68,000 per annum after tax.
But if you work as an independent mid-level IT specialist, you can earn approximately €80,000 pretax salary. And as a mid-level finance or investment analyst, you can earn around €100,000 in gross salary depending on your level of expertise and skills.
Marketing is another profession that can earn you good money in Denmark. You don’t need much experience or skills to make big money. A mid-level marketing personnel can earn a gross income of €85,000.
Denmark ranks higher in the Working Abroad Index because of its balanced work-leisure life. Expats in Denmark love their working hours more than the general global index.
Denmark also has a good business environment for entrepreneurs. As an entrepreneur, you can benefit from its flat hierarchies, flexibility, and creativity.
An expat working for a Danish company can take advantage of Expat Tax Scheme (ETS) with a 32.84% flat tax rate on all income for 7 years. However, if you go for this option, you will not utilize tax allowances.
With ETS and a gross annual salary of €85,000, you will take home a net salary of €57,000.
Germany is one of the leading global economies and a great exporter of various goods. It is filled with awesome opportunities for job seekers looking for opportunities to work abroad.
Germany hosts many global corporations, thus offering job opportunities for English-speaking people. Many Germans also understand English, so you will overcome the language barrier.
What else makes Germany an ideal country in Europe to make money? It has an unbeatable work-life balance and rich culture, allowing expats to build stable careers. The country also has generous paid leave and excellent healthcare.
Although the cost of living could be relatively higher than in your home country, living in some parts of Germany is cheaper than in many European cities. Moreover, Germany’s different cities have different opportunities suitable for any expat.
You will enjoy the country’s electric charm regardless of which city you work in as an expat.
The average salary in Germany is around $2908, while the cost of living is $886 a month. However, its incomparable social welfare and efficient transportation systems compensate for the seemingly high cost of living.
So, are you an engineer seeking to work in Europe? Germany is calling.
Ireland is an excellent European country to make money for English-speaking internationals. The people of Ireland are always welcoming and friendly, making you feel at home when you land.
Ireland has one of the best standards of living in Europe. Additionally, it has a low corporation tax rate, well-connected geographical regions, and hosts the European headquarters of several multinational companies. These characteristics provide a gold mine of opportunities for job seekers.
The service sector in the country needs a more qualified workforce. You can find a well-paying job in sectors such as technology and finance.
And with the increase of tourists seeking exciting destinations, Ireland is becoming a popular holiday destination. The tourism industry needs casual and skilled workers.
Other areas with skills shortages include:
- IT- data analysts, app developers, programmers, and software developers.
- Hospitality- chefs
- Healthcare- nurses, doctors, pharmacists, directors, and radiologists.
- Social science professionals
Belgium is a true European gem for anyone looking to make money abroad. The country attracts numerous foreign investors and more jobs that accompany these investments.
Belgium will feel like home if you are an English-speaking expatriate, with many people capable of speaking this language. However, if you are still looking for work, you can improve your chances of landing an ideal job by learning the national languages.
Belgium also has affordable housing plans and a welcoming international atmosphere. Jobs here pay decent salaries to help you live a good life. Renting an apartment in Brussels and other cities is 43% less than in other European cities like Paris and Berlin. The prices could go even lower in other Belgium cities like Ghent or Antwerp.
Belgium offers one of the best salaries in Europe and other benefits. These benefits include a company car, meal discount, laptop, and free language courses.
Belgium also has a suitable work-life balance, which means no overtime. Working weeks is 38 hours, and any overtime is often compensated. Furthermore, some companies have adopted flexi-hours working, where employees choose the time they want to work.
7- Bonus: Canada
Even though Canada is not a European country, it often comes to the top of the list of countries to settle abroad.
Why? Because it has the following:
- Good social values
- Many opportunities to make money
- Excellent education system
- Good cultural heritage
Anyone looking for work opportunities in Europe will find Canada a suitable fit. Canada’s economy and social culture are solid and stable. It promotes entrepreneurship for investors and offers well-paying jobs for international jobseekers and expats.
And since it encourages religious freedom, gender equality, and social justice, Canada is favored by those who want to make money abroad.
The Canadian government has implemented strategies to help the country recover post-pandemic. These strategies aim to boost the job market, create an environment for new startups, and welcome immigrants.
In many of its provinces, you will find many opportunities to work for companies and enterprises that require skilled workers.
It is easier to get citizenship in Canada than in most European countries, which means you can grow your business or career there. Its tax system is like most first-world countries, but you can find ways to minimize your tax burden.
You can make money and create wealth in Canada for your family and future generations. Some immigrants moved into the country several years ago and have made great fortunes for their families.
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So, if you decide that Europe is your destination, you have six countries to choose from in this list. However, this list is not conclusive. You can search for more European countries with opportunities to make more money.
These countries have multinational companies that offer additional financial benefits, health benefits, travel coverage, relocation packages, and more.
And if you have extra skills like language skills, you may increase your value and pay. So, before moving to Europe for big pay, improve your skill. The job market pays for value; the more valuable your services are to an organization, the higher the pay.
There you have it. What other country in Europe can one make more money in?