Admit it. We’ve all dreamt about working from the beach.
Or perhaps a cozy winter cottage or somewhere else exotic. Just a few decades ago, for most of us, these dreams would remain just that.
But thanks to improving technology and remote work becoming socially acceptable, anywhere in the world can be a workplace now (that is if you can get a wi-fi signal).
Let’s understand who the modern digital nomad is and understand his/her background a bit better.
What is a digital nomad?
A digital nomad is someone who works and earns their living entirely online without going to a physical office.
What sets digital nomads apart from remote workers is that they are constantly moving away and typically work remotely from a foreign country, and can be found on laptops in coffee shops, libraries, co-working spaces, or even RVs!
On average, men are more likely to be digital nomads than women, but the split is fairly even (58% vs 41%).
How many digital nomads are there?
Though the term digital nomad was first coined in 1995 by Tsugio Makimoto and David Manners, it wasn’t until the mid 2010s when the trend really began to take off.
This is because it took time for tech and internet infrastructure to develop to a level where people did not feel it to pose a barrier to working online.
This trend shows in the data with the movement enjoying slow but steady growth until 2020.
But then the Covid-19 pandemic happened and it made the digital nomad movement trendy.
With workplaces that traditionally required employees to work from office allowing employees to work remote to isolate and lockdown, some have adopted this lifestyle permanently even though offices have reopened.
In 2023, there are now 35 million digital nomads and this lifestyle will likely grow exponentially.
What is the average salary of a digital nomad?
Contrary to popular belief, most digital nomads are not broke.
In fact, 34% of all nomads make at least $50k-100k per year, while another 36% earn $100k-$250k which is certainly enough to live in most countries.
At the other ends of the bell curve are nomads who are extremely wealthy, and those who earn <$50k per year. Though this may seem little in traditional contexts, it’s certainly more than enough to enjoy a decent lifestyle in countries where cost of living is low.
Best cities for nomads
As we’ve seen, salaries vary widely and this certainly influences where nomads like to work from.
Overall, cities that offer a good balance between quality of life and cost of living rank highly on the list of places where you’ll find most nomads.
Hotspots include Thailand, Portugal, Spain, and Argentina.
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