Oman has been ranked as the most budget-friendly tax-free country for 2024, according to a recent study by William Russell. This marks the second consecutive year that Oman has held this title, reflecting its attractiveness for expatriates and those considering relocation. The study evaluated various costs associated with relocating, including flights, rent, and utility bills, ultimately giving Oman a relocation score of 7.92 out of 10 [509c29a8].
The average cost of a one-way economy ticket to Muscat is approximately US$227 from London and US$492 from New York, making travel to Oman relatively affordable for expatriates. Additionally, Oman stands out for its low costs associated with purchasing or renting apartments, as well as having the lowest monthly costs (excluding rent) compared to other tax-free countries [509c29a8].
In terms of income, the average monthly net salary in Oman is reported to be around US$2,205, which further enhances its appeal for those looking to relocate. Following Oman in the rankings are Kuwait and Bahrain, which received scores of 6.49 and 6.36, respectively. In contrast, Vanuatu was identified as the least affordable tax-free country, with a score of only 2.08 and monthly costs around US$1,113 [509c29a8].
This study highlights the growing trend of expatriates seeking affordable living conditions in tax-free environments, with Oman leading the way in providing a favorable economic landscape for newcomers. The findings are particularly relevant for individuals and families considering relocation for work or lifestyle changes, as they weigh the costs and benefits of moving to different countries [509c29a8].