Despite being one of the worst worldwide capitals for expats, New York City continues to have a significant appeal to people looking for a new life overseas.
According to a recent analysis by Internations, New York placed 39th out of 49 global cities for foreigners based on social, financial, and career considerations. The survey included almost 12,000 individuals from 172 countries or territories worldwide.
According to the survey, the Big Apple’s decline from 16th place in 2022 is “one of the most significant falls in expat eyes,” owing in part to a considerable increase in people expressing dissatisfaction with the high cost of living. Roughly 2 in 5 expats (39%) think their disposable household income in New York is insufficient to live comfortably (compared to 27% globally), and roughly 1 in 3 (34%) are dissatisfied with their financial status (compared to 22% globally).
New York is second-to-last in personal finance factors, barely ahead of Vancouver.
The largest city in the United States, which rated third in terms of working overseas in 2022, has also lost popularity for its job chances in the past year. Expats in New York are particularly unsatisfied with their job security and work-life balance this year.
New York is not alone in being a popular destination for newcomers, despite its difficulties. This year’s top ten worst cities for expats include Paris (41st), London (42nd), and Berlin (45th).
“One of the major issues with big cities is that expats are increasingly unable to afford them,” explains Malte Zeeck, CEO and co-founder of Internations. “What might seem surprising at first glance has to do with the rising costs of living, a decreasing quality of life, worsening work conditions and increasing hurdles to making friends in those big cities.”
But it’s not all bad: New York leads the way in terms of leisure alternatives, thanks to its world-class parks, museums, restaurants, historical buildings, and other cultural attractions.
Overall, the Expat Insider rankings are based on how expats feel in five major categories: quality of life (such as leisure options), ease of settling in (such as how easy it is to make friends), working abroad (including work-life balance factors), personal finance (which covers the cost of living), and an overall “expat essentials” category that evaluates things like how easy it is to secure a visa or open a bank account.
Spain’s Malaga, Alicante, and Valencia rank as the top three global expat destinations.