With economic gloom swirling the globe, it could be a perfect time to pack your bags and move to a stunning island in the Mediterranean.

White beaches, ancient Roman buildings and delicious lobster. Start dreaming.

And if that's not enough to tantalise and ignite your travel bug, then how about being paid $15,000 for your troubles?

You heard right. Sardinia is the island. An Italian island. And its government is desperate to attract new residents to help fight a dwindling population. It has a budget of around $45 million to subsidize 3,000 grants of $15,000 for each new inhabitant.

READ MORE

EU member Italy set for eurosceptic government

Will Russia's referendum raise nuclear threat?

Chinese student comes to soprano's rescue

"We have created the conditions for young people to decide to stay and [develop] the economic fabric of the most fragile territories," said Christian Solinas, Sardinia's president.

"There can be no growth without a real enhancement of the territories, of the interior and most disadvantaged areas, which must pass through new policies for their repopulation."

The initial official offer doesn't specify whether European Union (EU) citizenship is a prerequisite. 

This is not a new concept in Italy.  

Last summer, the southern region of Calabria said it was offering $33,000 to new residents over three years to move there. A medieval village near Rome called Santo Stefano di Sessanio offered $52,500 in grants in 2020 to live and work there.

There have also been similar programs in the U.S. The state of Vermont announced it was willing to pay 100 people up to $10,000 to live there in 2019, while the city of Tulsa in Oklahoma offered remote workers $10,000 to move for a year.

Before you start grabbing your flip-flops, Italian phrasebook and pasta recipes, there are some conditions you may want to know about.

The money you receive for moving there has to go towards renovating a home. You also have to live there full-time. And within 18 months, you need to register Sardinia as your permanent residence.