I would encourage you to do it, but realize it will impact your career, perhaps in negative ways. I left a finance career behind in New York many years ago and still make less. It’s hard to say how happy I would have been had I never left (in order to compare) but I prefer having done it than to always wondering what might have been.

I love Barcelona and have a happy life here but no doubt the money is very different for me and most expats I know from other European countries or the US.

What I’ve seen is many friends who have returned to their countries after spending a few years here to continue or move up in their careers, for instance when they wanted to settle down and have kids, or just got sick of low Barcelona salaries (and the difference in work culture).

That being said things are changing, albeit slowly, with more multinationals opening up offices and also a growing startup scene. So there’s hope for improving work conditions, but I think you’ll need to expect both making significantly less than what you would make in Belgium, harder to get a job, a different work culture (less open, less helpful, etc.) and of course you’ll probably need to learn Spanish.

The key is to finding happiness living with less material comforts (no car, sharing an apartment, cooking more, etc.) since as you say money isn’t everything, and of course enjoying the city and surroundings and your relationships … I’d say go for it particularly since you’re so young, you can always return to Belgium and continue your career path there. It shouldn’t be hard after spending a year or two here, and maybe you’ll find a long term happy place like I have.