In this article, we will take a look at 14 countries where the official language is English. If you want to skip our discussion and see the top countries, go to 5 Countries Where the Official Language is English.
Countries having English as their official language could have a strong economic advantage in the months and years to come, primarily because of two reasons. First, millions of people living in the West want to travel to, do business with, or retire in affordable yet developed countries where they could communicate easily. Second, as the global economy weakens and companies brace to cut costs, developing countries and emerging markets where there’s a high availability of English-speaking talent could be the choice of Western companies who want to outsource their jobs outside the US and Europe. Let’s analyze these two reasons with data.
The coronavirus crisis opened countless possibilities for human societies in several aspects of life. As offices closed and work-from-home policies took effect, it dawned on millions of people that they don’t have to suffer in commute to travel to a tiny cubicle to do their work. They could easily do their jobs online and save a lot of time and money. Similarly, several companies started offering their employees permanent work-from-home opportunities. This caused millions of people living in expensive cities, especially in Western countries, to turn to affordable, beautiful and interesting places in the world to work, travel or retire. But data shows that the trend of retiring outside of the US was becoming popular several years before the pandemic. For example, a 2015 report from Bloomberg said that about 615,000 Americans received their Social Security checks outside the U.S. in February 2015. That figure was up 57% since 2000.
Inflation, rising rents, unaffordable healthcare costs and several other factors are making it hard for Americans to retire in the country. The economic crisis that started last year is worsening this situation. Latest data shows that the US fell to the 18th position on the Natixis Investment Managers Annual Global Retirement Index. Income inequality, tax pressure and government debt were some of the reasons behind this performance.
Another report shows that rising prices in the US are making life unsustainable for many Americans. As a result, people are moving to Europe in droves. According to Bloomberg, New Jersey-based Sotheby’s International Realty said it saw a 40% rise in requests from Americans who are looking to move to Greece between April and June 2022, when compared to the same period last year. The report said that Portugal, Spain and France are among the most favorite destinations of Americans.
Another important reason to pay attention to the countries where English is the official language is the economic opportunities unlocked due to outsourcing of jobs from the West to emerging markets. According to a report by Grand View Research, the global business process outsourcing market size is expected to reach a whopping $405.6 billion by 2027.
In light of several recession warnings, companies in the US and Europe are considering outsourcing jobs to emerging markets where they can find a pool of talented individuals proficient in English, which would save them money during challenging economic times.
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Methodology
For this article, we did a thorough research and narrowed down our selection the countries where English is the or one of the official languages. We didn’t select the obvious countries from the West (US, UK, major European countries) as everyone knows English is their official language. We focused on English-speaking countries in the emerging markets which offer a lot of economic growth potential. Some of the countries in our list are also among the most popular retirement destinations.
14. The Bahamas
The Bahamas is an island country in the Caribbean. The country’s economy is reliant on tourism and financial services. The Bahamas became a favorite destination for remote workers as the country started offering travel extension packages to lure digital nomads. The Bahamas is the richest country in the West Indies and ranks at the 14th spot in North America in terms of nominal GDP. English is the official language of The Bahamas. Locals speak with a Bahamian dialect. The Bahamas could be one of the ideal travel and retirement destinations. It can also become a remote work hub in the future.
13. Uganda
Uganda is fast becoming a point of attention for global investors and companies thanks to the country’s huge economic potential and natural resources. According to the World Bank, Uganda’s economy grew at 4.6% during fiscal 2022, faster than expectations.
Agriculture, transportation, mining, automotive and energy sectors are some of the thriving segments of the country’s economy. Uganda could be a decent choice for anyone who is looking to enjoy the lush green forests and sceneries of Africa while working remotely in a budget. According to Numbeo, an average one-bedroom apartment in Uganda’s city center costs around $256 per month.
12. South Africa
South Africa has long been a favorite destination of digital nomads and tourists. The country offers a sweet spot between the urban lifestyle and African wilderness and natural beauty. South Africa made headlines last year when it revealed plans to launch a digital nomad visa, which will allow online workers to stay in the country for an extended period of time.
South Africa’s economy is the third largest in the African continent and unlike other countries which continue to rely on mining and natural resources, South Africa has diversified its economy. Financial services, tourism, BPOs, telecommunications and media are some of the thriving segments of the economy.
11. Malta
Malta is a European country known for its historical sites and beaches. Malta shows warmth in welcoming digital nomads and startups from all over the world. The country is offering a nomad residence permit which allows online workers to live in the country and work online. Malta offers you a European residency with all the benefits in better prices when compared to other European countries. According to Eurostat, prices in Malta were about 11% lower than the average prices in the EU.
Malta is a member of the European Union. The World Bank calls Malta an advanced economy. The country’s economy is reliant on the services industry.
10. Nigeria
Over the past few years Nigeria’s talent has attracted the attention of global investors and proved that the country is special when it comes to launching businesses. According to a report, Nigeria startups have raised about $2 billion between 2015 and 2022. Most of these startups were tech related. The raised amount beats all other countries, according to the report.
Nigeria is the largest economy in Africa, with a GDP of $440 billion as of 2021.
Nigeria has seen a growth of local venture capitalists and investors, which makes it possible for the startups to cut their reliance on foreign investors. For example, last month, Taeillo, an online furniture company from Nigeria, raised $2.5 million in funding from Aruwa Capital, a Nigeria-based early-stage growth equity and gender-lens fund.
9. Ghana
Ghana has the highest GDP per capital in West Africa, thanks to its rich and diversified economy that thrives on manufacturing and exportation of digital technology goods, car manufacturing, hydrocarbons and industrial minerals.
Ghana could be a decent destination for someone looking for an affordable place to live. According to Numbeo, a one-bedroom apartment in Ghana’s capital costs just about $620. Ghana is also famous for its freelance talent. As English is the official language of Ghana, Western companies can outsource their jobs to the country.
8. Cameroon
Cameroon is one of the well-endowed countries in the world as it enjoys a huge production of commodities and oil resources. While the company lost its economic prosperity it enjoyed in the mid-1980s due to a global decline in commodities prices and economic mismanagement, it remains one of the most thriving economies in the region due to the abundance of resources.
7. Barbados
This Caribbean country was once known only for its sugar production. Today, the country is a business hub. Barbados rebounded sharply after suffering from a recession in the 1990s and diversified its economy. In addition to agriculture and tourism, the country has also established its position in informatics, financial services, services and cruise industry.
Barbados is known for its highly literate, English-speaking workforce. The country is fast becoming a destination of digital nomads and American and European companies are also outsourcing a lot of jobs to the country, especially in the domains of data processing, database management and software development.
6. Mauritius
What comes to mind when you think of Mauritius? Beaches, lagoons, waterfalls, reefs, hiking trails and exotic animals. Now consider you get to live in this country during your retirement years. The government of Mauritius has an official web page about retirement prospects in the country where it lists several benefits potential retirees can enjoy in the country. Unlike many African countries, Mauritius has extremely developed and advanced infrastructure, state of the art hospitals, well-built roads and political stability. There is no tax on wealth in the country. Income derived by a retired person or his spouse or common law partner outside of Mauritius for the past 5 years is exempted from income tax.
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Disclosure. None. 14 Countries Where the Official Language is English is originally published on Insider Monkey.
