I’m the kind of person that has trouble living in the moment. Always, I am looking far ahead in the future and planning what I will do. During my travels around the world, I was shocked to learn the amazing opportunities available out there to invest your money in as a foreigner. I’ve narrowed down three places that I am personally interested in investing at some point in the next few years. There are certainly more than three countries that you can make money from investing abroad. I can talk about that at the conclusion of this article.
VIDEO – My Top 3 Pick For Countries To Invest In
1 – Colombia
Colombia is one of the fastest-rising countries in the world right now and is a true hidden gem. Since the cartel days is no longer as bad as it used to be, a lot of foreigners are starting to flock in this country. I personally travelled here for 38 days and it’s one of the best life experiences I ever had.
One of the questions I heard from fellow travellers was always the same: “how much does it cost to invest in Colombia?”
I was also told by my friend that he was shown a penthouse with 3 floors, 5 bedrooms, with an exercise room and completely modernized for $180,000 USD in Medellin. If you spend $163,479 USD, you will also qualify for a resident visa.
Since prices for investing in Colombia are steadily increasing, I think the chance of me investing here will be further out in the future. But, Colombia will always be on my radar for top places to invest in a second home.
2 – Philippines
The Philippines is my country of birth. Despite living in Canada for most of my life, I still have ties to the Philippines thanks to being born in that country. The Philippines has been experiencing a 5.5% GDP growth rate (except during the pandemic). And this is expected to continue in the next 10 years as soon as the pandemic ends.
The good thing about the Philippines is foreigners are allowed to buy condos here and own part of the land where the condo building stands. You can also buy houses; though you can’t own the land it stands on (you’ll have to lease it).
Some modern-looking houses in Manila cost about $15,000 for a small 400 SQ FT home. Because of these prices and my ties to the country, it is the perfect place to buy a rental property lump sum without paying for a mortgage.
3 – Serbia
Serbia was a big shocker for me when I travelled to this country. First, people were incredibly friendly despite their grim economical situation. One friend I made there told me that at least 50% of the people in Serbia are employed by the government. He told me that their private sector is extremely weak and employment opportunities is a huge problem. The country is also facing massive unemployment at around 12.7%.
The public figure shows that 25% of the population works for the government. But, I think the locals know the truth more than what’s published online. The one thing that struck me was how many Serbians had perfect English and were university educated. So you have a country here with lots of smart people, willing to work hard, but can’t. Their annual salary in the country ranges from 366-400 Euros a month. For $600 CAD a month, you can hire someone to work for you full-time. And you can bet they are much harder working knowing how it is to get a job for them.
So if I ever start a business outside Canada, Serbians would be the first I would look into hiring.
Outside these three countries, Cambodia is a great option with a 7% GDP growth rate. Vietnam with a 6% GDP growth rate is another great alternative. Cambodia also allows you to own land which is great. You can’t own land in Vietnam which is a major downside to that country. But; you can have 100% ownership of a business which is a great perk.
Malaysia is also a great place with a 4.9% GDP growth rate. If I pick the 4th country on this list, it would definitely be Malaysia. The big problem with Malaysia is you need a much larger capital to invest, unlike the Philippines. That’s the only reason why Malaysia is not higher on my list of countries to invest in.