Traditional Powerhouse Nations (United States, United Kingdom, Canada) Losing Their Distinction
In a significant shift, Canada's ranking in the global landscape has dropped from 5th in 2012 to 18th in 2025. This decline is mirrored in the United States and the United Kingdom, which are ranked 24th and 23rd respectively in the 2025 World Happiness Report, their lowest rankings since the report began.
This slip in the global hierarchy is not just a numbers game. Across nearly every metric - economic freedom, personal liberty, press freedom, quality of life, and income - the US is slipping and is no longer the best place to be born. The 'work hard and get ahead' dream is fading in the West, as the cost of living in these countries goes through the roof, tax rates increase, and income diminishes.
Countries like Portugal, Georgia, Panama, and the United Arab Emirates have become popular destinations for Nomad Capitalist clients, offering better living conditions, higher living standards, and favorable tax regimes on income and innovation. Asia offers low-tax locations such as Hong Kong, Malaysia, Thailand, and Singapore with abundant opportunities for foreigners. Meanwhile, countries like Costa Rica, Panama, Uruguay, and Paraguay in Latin America offer less government overreach, more personal freedom, lower living costs, and territorial tax systems.
The global balance of power is shifting away from the West as countries in Asia and Latin America assert themselves economically, politically, and culturally, gradually eroding the long-standing dominance of Western legacy nations. This is not to say that the US, UK, and Canada are no longer world leaders, but the numbers increasingly tell a different story, including high costs of living, slowing economies, strained healthcare systems, declining education systems, rising crime rates, and labor market imbalances.
The decline of the West goes beyond measurable factors like economic stagnation or political dysfunction and touches on something more intangible but just as important: a loss of optimism. People are feeling poorer, both financially and socially, as global competition rises. This has led to a growing interest in international relocation, with 25% of citizens considering it, and interest being strongest in East and West Coast cities.
In many cases, Nomad Capitalist helps seven- and eight-figure entrepreneurs and investors legally go where they're treated best, often advising US citizens on why and how they should leave the United States. Nomad Capitalist works with a global network of trusted professionals to create holistic, bespoke strategies for clients, helping them keep more money, create new wealth faster, and be protected from whatever happens.
Acquiring a second passport is a strategic asset, providing flexibility, freedom, and the ability to chart one's own course. As political and civil liberties in the West erode, and governments veer towards being heavy-handed, passing restrictive legislation and taking more of people's money, the allure of a better life abroad becomes increasingly appealing.
In conclusion, while the West continues to position itself as a world leader, the numbers increasingly tell a different story. As countries in Asia and Latin America rise, and the cost of living and doing business in the West continues to increase, more and more people are looking to international relocation as a solution to these challenges.
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