Spain's Málaga crowned favourite city in Europe for executive nomads

The Andalusian city of Málaga has come out on top in Europe for so-called executive nomads – high-ranking professionals who work remotely from anywhere in the world, according to a new study by the international consulting firm Savills.

In the latest edition of its "Executive Nomads" study, the firm analysed 30 destinations based on their appeal and ease of access for long-term remote workers.

Each destination was ranked for internet speed, air connectivity, climate stability, prime residential market prices and overall quality of life.

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“Málaga has a Mediterranean lifestyle, comparatively affordable living, reliable services and excellent connectivity – both digitally and through direct flights to major cities,” says José Felix Pérez-Peña, Executive Director Andalucía, Savills Spain.

“It also offers a strong education system across the province, which is increasingly attracting nomadic families”.

“Málaga is incredibly welcoming and easy to adapt to,” he added. “It’s evolving into a vibrant, cosmopolitan city, yet it wants to hold on to its authentic charm and identity.”

Worldwide, Málaga placed third, surpassed only by Dubai and Abu Dhabi in the United Arab Emirates.

According to the company, executive nomads differ from digital nomads in that they tend to be older and are further on in their careers. They are often business founders, senior managers or entrepreneurs and look for a high quality of life.

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Málaga meets many of the criteria they’re looking for such as a warm climate and a welcoming culture, as well as an economic and business hub with the likes of Google Vodafone, Huawei and Ericsson being based in the city’s Tech Park.

Savills also highlights that the fact that digital nomad visa schemes remain key to attracting these professionals. Spain first introduced its digital nomad visa and the beginning of 2023.

Two other Spanish cities made the top 10 list for executive nomads including Palma de Mallorca which came in sixth place and Barcelona, which placed seventh.

Palma was ranked highly because of its very high quality of life, while Barcelona provides a similar coastal experience, as well as a more urban environment. Both cities also attract international talent and have big foreign communities just like Málaga.

One point that the company makes is that executive nomads tend rent instead of buy. According to the company, prime rents across the 30 locations tracked in in the study have risen by 2.9 percent on average this year, reflecting continued interest.

The three Spanish cities on the list also have some of the highest rents in the country, and rents in Malaga have increased faster than anywhere else. In the last year alone, rents in the Andalusian city have increased by 6.8 percent.

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It’s the same percentage increase in Barcelona, while there’s been an increase of 4 percent in the last year in Palma de Mallorca.

While executive nomads bring in more business and help contribute to the system by paying taxes, many locals are not happy about the potential effect they’re having on the housing crisis, blaming them for these steep rental increases.

Typically executive nomads earn a lot more than the local population in these Spanish cities and as a result can afford to pay over the odds for a better place to rent, pushing the prices up for everyone.