Hungary 10th in Europe on Digital Nomad Visa Index!

Visaguide.world has published its Digital Nomad Visa Index ranking in which it ranked countries based on several factors to evaluate how good of a digital nomad destination a country is. Hungary has made it to the top ten in Europe and it’s in 18th place globally.

The Digital Nomad Visa Index is a comprehensive ranking system evaluating and ranking countries based on their suitability for digital nomads. This index considers various factors critical for remote workers who travel and live in different countries.

Best Countries for Digital Nomads

Spain is the top country for digital nomads, according to the VisaGuide Digital Nomad Index, with a score of 4.50. It is followed by Argentina in the 2nd place with a score of 3.72. Romania, United Arab Emirates and Croatia are ranked 3rd, 4th and 5th respectively to complete the top five list of the best countries for Digital Nomads.

Hungary on the list

Hungary takes 10th place in Europe (and 18th in the world) as a great digital nomad destination.

Countries were ranked based on several factors:

• Internet Speed: Being able to work from anywhere, have online meetings, and stay connected with people around the world is possible because of a strong internet connection
• Taxation: Taxes are key for digital nomads’ financial health. They prefer lower rates to boost their income.
• Tax-free Policy: A country’s tax-free policy is vital for digital nomads. A longer tax-free period boosts their income benefits.
• Income Required Amount: Minimum monthly income requirements are important for people seeking a digital nomad visa.
• Cost of Living: Digital nomads benefit from a good quality of life when living costs are low, allowing them to manage effectively and reduce financial stress.
• Health Care Infrastructure: A solid healthcare infrastructure is essential for digital nomads, ensuring access to medical services and peace of mind while they work
• Tourism Popularity: Countries with high tourism are magnetic for digital nomads seeking adventure, cultural experiences, and a strong sense of community.

Key reasons why Hungary is a great destination for digital nomads:

• Internet Speed – Fastest internet speed (245.97 Mbps)
• Cost of Living – Low cost of living for digital nomads (627.3€ per month)
• Taxes – Digital nomads don’t have to pay taxes for their first six months in Hungary giving them a financial edge

Complete Ranking List

Here is the detailed list of countries ranked according to their score in the Digital Nomad Visa Index:

The Unique Ranking System of the Digital Nomad Visa Index

The Digital Nomad Visa Index utilizes a unique scoring system to rank countries. Factors in this scoring system include:

• Active Visa Availability.
• Internet Speed.
• Taxation Policies and Tax-Free Length.
• Income Requirements for Visa Applications.
• Cost of Living in Euros.
• Global Health Score (GHS).
• Tourism Popularity.

These factors combine to form a normalized score, highlighting the most suitable countries for digital nomads.

Methodology and Scoring

Calculation of the Score Before Normalization

The initial score of a country in the Digital Nomad index is calculated using the factors mentioned above.

This formula balances various factors, giving higher weight to aspects like internet speed, tax-free length, and tourism popularity, while also considering the cost of living and the availability of a digital nomad visa.

Normalization of the Score

The final score, called the ‘Digital Nomad Score,’ is derived by normalizing the initial score as follows:

Digital Nomad Score = Initial Score * 4.5 / Max(Initial Scores across all countries)

This normalization process ensures that the scores are comparable across countries and are scaled on a uniform metric.

Conclusion

The methodology of the Digital Nomad Visa Index is designed to provide an accurate and comprehensive overview of the best countries for digital nomads. By considering a range of factors from internet quality to healthcare, and by using a complex but transparent scoring system, the index serves as an essential tool for remote workers looking to find their next destination.