I know a guy who lives there (he moved there, not a native), doing consulting and working remotely.

The advantage partially comes from the fact that developers are paid significantly above average wages, i.e. the average salary for most people is low (like 400 to 600 euros a month pre tax) yet developers take home 1,500 / 2,000 / 4,000 euros per month.

Cost of living + taxes are low as well.