when there is location arbitrage, then someone is benefiting at the expense of someone else. Practically, expats add to the pensioner population of the country

when there is location arbitrage, then someone is benefiting at the expense of someone else. Practically, expats add to the pensioner population of the country (except for the burden of paying their pensions). European countries are designed to require large working populations to sustain public services (which older people will disproportionaly use more). Add to that the unintended consequences such as high real estate prices. Therefore i believe that overall, it harmful.