If you love the beach, super cheap to live, eat (fresh food) and really good devs but hard to find, consider Manila.
I am from Silicon Valley but have been here for almost 7 years. Downsides: traffic, small startup scene and hard to raise money. But there's a new local fund focused on local tech going after the world. They just funded my startup. I can make intros.
Subscribe to http://thestartupdigest.com Philippines to get a feel for the local startup events.