MALAGA RANKED AS SECOND BEST CITY GLOBALLY FOR REMOTE WORK IN THE EXECUTIVE NOMAD INDEX STANDINGS
22nd August 2023
The convergence of the pandemic and digital advancements has sparked the rise of digital nomads. The opportunity to reside and work from anywhere globally is no longer exclusive to tech professionals; now, workers and managers from various sectors are embracing this lifestyle.
The Executive Nomad Index report, an annual ranking by real estate consultancy Savills, focuses on attractive cities or regions for high-level remote workers. Malaga debuts on this list in the second spot, following Dubai and preceding Barcelona and Palma de Mallorca.
The top twenty locations for remote work are: Dubai, Malaga, Miami, Abu Dhabi, Lisbon, Barbados, Barcelona, Palma de Mallorca, Algarve, Saint Lucia, Cayman Islands, Dubrovnik, Malta, Antigua, Côte d'Azur, Mauritius, Athens, Cyprus, Bahamas, and Tuscany.
Malaga's visibility has surged due to Google's investment and its ripple effect on other multinationals like Vodafone, Citi, and Globant. However, beyond the buzz, the city offers solid reasons to attract executives turned digital nomads since the pandemic, as mentioned in the report.
The Executive Nomad Index evaluates each city based on internet speed, quality of life, climate, air connectivity, and upscale rental housing prices. Malaga scores 32.38 points overall, a mere two points below the top-ranked Dubai. Malaga earns the highest quality of life score (10.38) on the list. It also performs well in internet connectivity (8.06) and prime rental competitiveness (5.26). The climate score is average (4.45), surpassing Dubai and Abu Dhabi but trailing tropical destinations like Barbados, Cayman Islands, St. Lucia, or Miami.
All the cities on this list offer a digital nomad visa program or equivalent, alongside favorable year-round climates, high-quality living standards, and robust residential markets, according to Savills. The report highlights how Malaga's cultural and tourist appeal, including remarkable museums and a charming old city, have grown in recent years. The influx of major companies like Google has solidified Malaga's reputation.
Spain's digital nomad visa launch in 2022 undoubtedly propelled Malaga into second place. The city's appealing climate, beaches, culture, gastronomy, and relatively affordable rental market all contribute. Additionally, Malaga's international airport is conveniently accessible from the city centre. Savills emphasizes that Malaga's direct flight from New York further enhances its attractiveness.
Compared to other European cities, Malaga offers affordable restaurant prices, rents, and daily living expenses, fostering a sense of security among residents. The eastern part of the city traditionally attracts the upper class, while the western coast is undergoing regeneration and flagship development, exemplified by Sierra Blanca Tower's benchmark-setting prices.
Despite catering to this market's needs, there's a shortage of available properties, furniture, internet connections, high-quality offices, and coworking spaces. The demand from nomadic workers turning to Malaga is outstripping supply.
Published by David
