Geographic arbitrage is a popular concept in personal finance.
It involves working or living somewhere where you can earn more or spend less than if you worked or lived someplace else.
For example, someone who works remotely from home might decide to live someplace with a lower cost of living. Or a doctor might choose to work someplace where high demand for his or her specialty results in a larger salary. Or a retiree might move from a high cost of living area like New York City to a less expensive state or country, so the money they earned over their career has more buying power.