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As more people than ever embrace remote working as their norm, workcations - where working and short vacations come together - are about to be 2023’s biggest trend. In this ranking, MoneyTransfers.com has assessed six key criteria across 20 of the most popular European city hot spots to discover the top workcation destinations promising the perfect blend of productivity and adventure!
Leading the pack is the dynamic metropolis of Madrid, followed closely by the vibrant destinations of Barcelona and Bucharest.
While digital nomads were once an elusive minority, the rise of remote working has undoubtedly given the masses access to the luxuries of remote work - the opportunity to take a workcation without sacrificing the quality of your work (or taking too much annual leave) being a major one.
In this ranking, we covered six key factors many working professionals value if working abroad, using them to find the best destinations out of 20 of the most popular European destinations for travel in 2023.Jonathan Merry, CEO of MoneyTransfers.com
Imagine savouring a cheap-but-delicious cup of coffee in atmospheric cafés after a good night’s sleep in affordable accommodation, harnessing the power of lightning-fast broadband, and immersing yourself in cutting-edge coworking spaces that fuel innovation. Madrid, the undeniable champion in this ranking, boasts an unbeatable workcation ecosystem, fuelled by its bustling energy and a rich cultural heritage that inspires both work and exploration.
Madrid Takes The Top Spot For 2023 Workcation Hotspots!
Madrid strikes the perfect balance between some of the most important things to working professionals. It boasts a cheap cost of living (just £1.68 for a piping hot cappuccino, or £2.52 for a cold beer while you work) and an average nightly accommodation cost of just £89.20 - that’s the third cheapest cost out of any city on the ranking (following Warsaw and Bucharest).
While costs are low, Madrid offers lightning fast broadband speeds so you can rest easy knowing you can login and fire off emails whenever you need to. What’s more, remote workers have a choice of approximately 185 coworking spaces (not to mention the array of bars and restaurants you can work from) and over three thousands things to do in your down time!
Barcelona And Bucharest Among The Best
Barcelona, securing the runner-up position, is guaranteed to captivate workcation enthusiasts with its irresistible charm and awe-inspiring ambiance this year. Picture yourself basking in the Mediterranean sunshine, relishing the entrepreneurial spirit that permeates the city, and embracing its legendary nightlife.
With 186 state-of-the-art coworking spaces, fast internet and a vibrant infrastructure with plenty of things to do (almost 5,000, in fact!), Barcelona provides a workcation playground where business and pleasure intertwine seamlessly all while keeping costs low.
Not to be overlooked, Bucharest shines as a rising star on the workcation horizon. This hidden gem - despite being the largest city and capital of Romania - combines affordability with a burgeoning remote work scene, enticing professionals seeking new horizons. Bucharest scores highest for its low cost of accommodation and super-quick broadband. While there may be fewer coworking spots to check out (52), there are still plenty of things to keep you occupied in the cultural hub of Romania.
Whether you're drawn to Madrid's dynamic energy, Barcelona's captivating ambiance, or Bucharest's entrepreneurial spirit, these cities are poised to deliver unforgettable workcation experiences that will fuel your creativity and leave you with lasting memories.
High Accommodation Costs Sees Edinburgh Scoring Bottom
On the other end of the ranking, Edinburgh comes out bottom. The city has a rich history and vibrant culture making it a top tourist destination in the UK with over 3.1 million annual visitors. However, it does come with a caveat: the city's accommodation costs rank highest overall (even higher than the UK’s capital), making it the pricier option for workcation seekers.
Helsinki takes the penultimate spot. Finland’s capital impresses visitors with its vibrant atmosphere but presents challenges in terms of the cost of a beer or coffee (as well as a high cost of living in general) which can quickly make a dent in your workcation budget. Additionally, coworking spaces are comparatively fewer in number here, requiring a bit more planning for working professionals.
Dublin still offers its own allure with its rich literary history, bustling city life, and lively pubs. However, a combination of a higher cost of beverages, nightly accommodation, and average interest speeds put it lower in the overall ranking.
Other Notable Mentions
Some remote workers will follow the destinations where their broadband connection won’t be affected, and for those people, Bucharest takes the top spot in this ranking.
However, you might also want to consider Copenhagen (ranked 14th) - while there are fewer coworking spots and less tourist attractions than other cities featured on the ranking, digital nomads will find super-quick internet that you can access from your hotel or any number of the cosy cafes lining the colourful Danish city’s cobblestone streets.
Activities Abound In The UK Capital
For a short and sweet workcation, you might be drawn to somewhere with lots of attractions and activities to fill your time with. For this, London is unbeatable - with almost 9,000 things to do listed on TripAdvisor, the vibrant UK capital ranks 7th overall for top workcation destinations.
Work In Warsaw For A Budget Workcation
Finally, digital nomads on a budget might like to check out Warsaw (8th). With an average nightly stay of just £65.90, the capital of Poland is unbeaten in terms of costs in this ranking, and scores relatively high for internet speed and things to do, too.
Methodology
This ranking of 20 European cities for workcations in 2023 is based on a methodology that considers several key factors to assess the suitability of each city. The factors taken into account include:
- Cost of a cappuccino (light weight): Sourced from Numbeo
- Broadband speed (heavy weight): Sourced from SpeedTest and Fair Internet Report
- Cost of a 0.5 litre beer (light weight): Sourced from Numbeo
- Number of coworking spaces (middle weight): Sourced from CoWorker
- Number of things to do (middle weight): Sourced from TripAdvisor
- Nightly average accommodation cost (heavy weight): Sourced from OTA Insight
To ensure a fair comparison, the data for each factor was normalised to a common scale. To do this, we transformed the original data to a standard scale scoring between 0 and 100 - where, for example, higher costs scored lower, and more things to do or coworking spaces scored higher.
Once the data was normalised, we used a weighted scoring system to calculate the overall score for each city. The weightings were assigned based on the relative importance of each factor. In this ranking, higher weights were given to factors such as broadband speed and accommodation costs, indicating their greater significance in the evaluation. Factors like the cost of a cappuccino or a beer were assigned lower weights. You can view the exact weight distribution above.
Cities were then ranked based on their overall score.
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