Job Offer - should i take it?

Hi folks, i have to make a difficult decision as to whether to take a job offer in my home country in a company i used to work for or not. I am working in a high status high pay role in europe where i don't speak the language right now, but my role will 'rotational' in a year and i will be asked to apply for jobs in other countries then (low to middle income countries most likely) along with lots of other people who work in my organisation. 

I'm ready for a move but the job being offered is a step back in pay (-50%) and status, but gets me back home to my close friends and familiy. 

The managers i work under right now are distant and very focus on qualifications and status. They are open about other candidates who have a Phd (vs my masters) and could fit in the role i'm doing. having this kind of environment affects my metal health and its difficult to keep up my performance when they drop hints like that. 

any advice????