Can Europe Become A Dream Destination For Remote Workers?

Having just spent three weeks across various parts of Europe, I came to realize it has everything to become a dream destination for remote workers and anyone looking for highest quality of life.
dream destination Europe Italy Lake Garda 3

Contents

Key Takeaways

☑️ The E.U. can become a dream destination for remote workers
☑️ It will be hard to compete with the world on conventional terms
☑️ It needs to focus on what only Europe can offer

Quick Intro

Due to the pandemic, I haven’t been to Europe in four years. That’s why this time was special for my wife, our two kids (10+9yrs) and me.

We spent three weeks and traveled through Germany, Austria, and Italy. During the trip, I realized Europe really has the potential to become a strong magnet for affluent remote workers from across the world.

With its picturesque coastlines and lakes, rich culture, and beautiful cities and villages, it simply offers one of the highest qualities of life you can find.

Europe – A Dream Destination For Vacationers

5 Days In Italy – La Dolce Vita!

Check out some of the pictures I took (with my regular iPhone) in Italy.  We stayed at a beautiful small hotel called Ca’Barbini, near Lake Garda, located south of the Alps in Northern Italy.

We had a beautiful family suite over two levels, overlooking a stunning pool and Lake Garda.

Check out some of the pics I took there:

dream destination Europe Ca ‘Barbini Resort

dream destination Europe Punta San Vigilio

Wherever I went, the internet connection was excellent, the people were very warm and kind, everyone spoke English, and the food was awesome.

The kids started playing in the pool or lake in the morning.  I then got myself a big Latte Macchiato, sat in the shade, and worked till noon. We then had a simple lunch somewhere and explored the area in the afternoon.

Heading To Tyrol 

We then drove to Tyrol in Austria – another part of Europe that is dear to my heart.

The lush forests, the beautiful rivers, the calm mountain lakes, the rich cuisine, and the warm people are all reasons I love to recharge my batteries there.

Some impressions below – loving the colors! I took those images roughly at 6.30 pm.

dream destination Austria Tyrol 1

dream destination Austria Tyrol 2

Europe – Uniquely Unique!

What’s unique about Europe is that within a few hour’s drive, you typically always reach five-plus countries with distinctly different cultures, languages, cuisines, landscapes, and man-made beauty, all in a relatively small area!

Top 10 Dream Destinations in Europe (by Visitor Count)

Rank Country International tourist arrivals (2021)
1 France 48.4 million
2 Spain 31.2 million
3 Turkey 29.9 million
4 Italy 26.9 million
5 Greece 14.7 million
6 Austria 12.7 million
7 Germany 11.7 million
8 Croatia 10.6 million
9 Poland 9.7 million
10 Portugal 9.6 million

Source:  Schengenvisainfo.com

Europe – A Dream Destination For Investments

I believe the European stock market is very attractively valued compared to the stock market in the U.S. or other parts of the world. Check out for example these 6 European dividend stocks with PE ratios of below 14, but all with good dividend yields.

6 European Dividend Stocks With PE Rations Below 14

Symbol  Stock Region PE Dividend
$FRA:HGR 🇬🇧 Ecora Resources Europe 3 6.21%
$FRA:PAH3 🇩🇪 Porsche Holding Europe 5 5.03%
$XTER:BMW3 🇩🇪 BMW Europe 6 9.02%
$FRA:DHL 🇩🇪 DHL Europe 10 4.18%
$FRA:ALV 🇩🇪 Allianz Europe 11 5.11%
$FRA:FRE 🇩🇪 Fresenius  Europe 13 3.10%

All of these stocks are profitable and in my point of view good buys.

Disclosure: I own them in my All-Weather Portfolio.

Europe – The New Dream Destination For Remote Workers?

dream destination remote workers Germany

I believe it will be tough for Europe to compete with the U.S. or China on conventional terms, mainly because of

  • language barriers
  • relatively small market size
  • fragmented rules & regulations
  • entrepreneurial spirit and support
  • technological innovation

However, Europe can become a dream destination for remote workers if it can manage the following points well:

  1. Europe-wide fast internet speeds
  2. Easy to find and book homes, BnBs, or rooms
  3. Excellent coworking spaces
  4. Simple visa regulations
  5. Easy way to get around by planes, trains, and car
  6. Simple taxation
  7. Multilingual workforce
  8. Fully digitalized administration

Conclusion

Europe needs to re-position itself. If it does not do so, it runs the risk of slowly becoming obsolete.

The markets in Asia with its billions of (young) people, the financial might of the U.S., and the massive growth potential of Africa, require Europe to capture a new hill in the mind of potential investors.

I believe it can become a strong magnet, a mecca, or the dream destination for remote workers.

📘 Read Also

 

FAQ

What does ‘dream destination’ mean?

This is highly subjective, to me, a dream destination means the location offers everything that is important to me, namely:
– safety
– nice scenery
– kind people
– good food
– easy to go get to
– no language barriers
– good remote worker infrastructure

What are the top dream destinations in Germany?

This is a subjective topic. For me, personally, being from Germany, here are my top dream destinations:
– Munich
– Berlin
– Hamburg
– Bavarian Alps
– Schwarzwald
– Leipzig
– Sylt (Island)

What are the best dream destinations in Austria?

This is a subjective topic. For me, knowing Austria as a tourist well, here are my top dream destinations:
– Vienna
– Salzburg
– Kitzbühel in Tyrol
– Graz
– Linz

What are dream destinations in Italy?

Again, this is subjective, for me, just having spent time in Italy, here are my top dream destinations:
– Rome
– Milan
– Florenz
– Lake Garda
– Venice
– Siena (Tuscany)

Where’s your dream destination for remote work?

My personal dream destinations for remote work are:
– Lake Garda in Italy
– Bavarian Alps
– Kitzbühel in Tyrol
– Sylt (Island in the North of Germany)
– Ibiza or Mallorca (Islands in the Mediterranean)

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