Leo, let's compare the economic conditions and cost of living in Armenia and Israel. How do they differ?
Armenia offers a more affordable lifestyle, particularly for those earning in stronger currencies. The cost of living is lower, encompassing food, rent, and entertainment.
What about job opportunities and salaries?
Armenia's job market is growing, especially in tech, but salaries might not match Western standards. It's ideal for remote workers or entrepreneurs.
And what about Israel?
Israel's cost of living, especially in Tel Aviv, is significantly higher. You'll pay more for everything.
What kind of salaries are needed to offset the high cost of living?
Israel's job market, particularly in tech and healthcare, offers high salaries, but they're necessary to maintain a comfortable lifestyle given the high costs. Taxes are also significant.
What about accommodation?
Accommodation in Israel, especially in major cities, is expensive. In Armenia, you can find reasonably priced apartments, even in city centers. Everyday expenses like groceries and transportation are also considerably cheaper in Armenia.
Can people save money easily in either country?
Saving is easier in Armenia if you have a foreign income. In Israel, saving is a challenge unless you earn a high salary.
Finally, what about financial planning, insurance, and pensions?
Armenia has a mandatory multi-pillar pension system, though the amounts may not be comparable to other countries. Israel boasts a well-established social security system, including mandatory social security taxes providing access to healthcare services. Almost all residents are insured under the National Health Insurance Law.
So, Armenia offers a lower cost of living but potentially lower salaries, while Israel presents a high cost of living balanced by higher earning potential and a robust social security system.
Precisely.