much can I earn or save working overseas?
in many countries, tend to earn at least what the
average wage-earner in that country makes - and often
more - or even much more.
mediocre wages can often be offset by benefits such as
free housing, airplane tickets to and from your home
country on an annual basis, very low or even no income
taxes - or tax holidays for a year or two.
These benefits can often make a modest wage turn into
significant savings - as if you were earning two or
three times the basic wage.
lifestyle afforded by working overseas typically exceeds
that of the common woman/man in most developing
countries and is generally comparable in some developed
what people often really want to know is: Can I
save any money working overseas? And,
the answer is, "Yes, sometimes, and in some countries."
Really, it depends on the country in which you choose to
work - and your lifestyle.
How much can
It dends on
your occupation, but - for example - English teachers in
Korea and Taiwan, typically can save as much as US$1,000
per month or more. Your lifestyle, of course, will
affect your personal bottom line. Teachers of English
as a Foreign Language (TEFL or EFL) professionals in the
Middle East can sometimes triple the savings of Korea.
But the Middle East will generally require advanced
degrees and previous experience for better positions -
Korea and Taiwan want only a degree (in any field!).
Skilled professionals can do as well in other areas too.
Again, as an
example, EFL Teachers in China report a good lifestyle
on their wages - but that they are unable to save
significant money. The same is true of Thailand and
Mexico and many countries in South America. Their wages
earn them a modest but comfortable living - but savings
are difficult to come by.
So, as you
ponder the decision about working overseas, you'll also
need to consider your financial situation and that will
affect what countries you want to look at.
If you have
student loans or other debts, consider only countries
where your likelihood of success is great and you are
able to comfortably save at least the amount of your
experience is that he started overseas with very little
in the way of assets - and over a period from 1992 to
2005 was able to buy several rental properties in the
USA and pay them off. All the while teaching English in
four different countries and traveling to many others.
the author anyway, it was an excellent lifestyle
combined with an ability to save. But, it was not all
roses - he would have preferred to always work in a
country like Thailand - but had to make some hard
choices and spend some significant time in countries
like Saudi Arabia and Korea - which are not everyone's
cup of tea. But working overseas provided him with the
opportunity to both travel AND save money for retirement
(He is now retired).