Cyprus among top 20 world destinations for executive nomads

Cyprus has been listed among the top 20 world destinations for executive nomads, in the latest Savills Executive Nomad Index.

As Savills explained, while a laptop beneath a palm tree has become the image of the digital nomad, the natural habitat of the executive nomad – a similar individual but in a senior position or a business owner – is well connected locations.

A study carried out by travel experts ‘Panache Cruises’ earlier in August revealed that Nicosia ranked third among European cities for people in search of a digital nomad lifestyle working abroad, following Bucharest and Madrid.

Ranking 18th on the Savills list, Cyprus is among the countries that offers a digital nomad visa, which is considered key in facilitating this kind of professional lifestyle. Topping the list were Dubai, followed by Málaga, Miami, Abu Dhabi and Lisbon.

“Beaches play a part, given many of these urban locations are coastal, but it’s the vibrancy, culture and networking opportunities offered by cities that attract high-ranking executives able to work remotely,” said Savills.

It went on to explain, “If ‘digital nomad’ brings to mind footloose young backpackers, their more business-oriented cousins are usually wealthier and quite often have children in tow. Hence high-quality schooling is part of the equation”.

As it said, executive nomads are seeking easy-to-access locations that offer an attractive climate, quality of life and super-fast Wi-Fi. “Connectivity, both physical and digital, is essential.”

The availability and affordability of prime rental property is also key. Testament to the popularity of these destinations are rising rental costs; in Dubai prime residential rents grew by 5.4% in the first half of 2023. In Lisbon they rose by 13.9% over the same period.

“And, of course, digital nomad visas help facilitate this lifestyle,” said Savills. “Ever since Estonia launched its digital nomad visa in 2020, a raft of countries have followed suit to compete for global talent.”

Cyprus has a digital nomad visa. With the Cyprus digital nomad visa, you can work remotely for any foreign employer registered outside Cyprus.

The launch of Spain’s digital nomad visa in 2022 has undoubtedly helped propel Málaga – which didn’t appear at all in last year’s Index – into second place this year, it said. “The city’s attractive climate, beaches, culture and gastronomy are big plus-points, but so too is its comparatively affordable rental market; costs are half those of its European competitors in the index. Málaga’s international airport is just a short distance from the city centre, a further boon for executive nomads who rely on regular travel. A direct flight from New York to Málaga launched this year.”

Dubai, however, claims the top spot, precipitated by its drive to become a leading digital economy. With exceptional digital and physical connectivity – the latter offered by its Dubai airport hub – it also scores highly for quality of life.

The list in full:

Dubai

Málaga

Miami

Abu Dhabi

Lisbon

Barbados

Barcelona

Palma

Algarve

Saint Lucia

Cayman Islands

Dubrovnik

Malta

Antigua

Côte d’Azur

Mauritius

Athens

Cyprus

The Bahamas

Tuscany