5 Takeaways from Digital Nomads in 2020

Digital nomads are becoming the new, go-to way to make money in 2020. Average people are going from job to job, earning and spending a few months in one location before finding another line of work and repeating the cycle. This restless lifestyle across several continents is made possible due to a combination of drones , mobile technology , wifi connectivity, co-working spaces , and a nomadic mindset.

Why People Shift to Digital Nomad Lifestyle?

People have shifted to the digital nomad lifestyle for a number of reasons, some are economic while others are non-economic. The three main reasons people have been motivated to switch their traditional lifestyles with digital nomads’ way of life:

  • Economic Motivations

    Most commonly due to lack of opportunities in their home countries. Some people have left their traditional lifestyle due to poor job prospects and a lack of economic opportunity in their home countries such as Spain or Greece in the Eurozone crisis or Hong Kong, who currently has an unemployment rate of 3.4% and is one of the most expensive cities in Asia.

  • Cultural Motivations

    Since many digital nomads tend to be younger in age, there is an element of culture shock. Many people are looking for a cultural change, and thus move towards places like Chiang Mai or Ubud due to their exotic locations and diverse cultures

  • Environmental Motivations

    Some digital nomads are finding an ecological motivation for living in the present rather than planning for the future. With global environmental issues constantly in the headlines, some people have decided to take a break from their 9-5 jobs and live completely off grid .

Takeaways from Digital Nomads in 2020:

  • Digital Nomads are Here to Stay

    The digital nomad lifestyle has been around for the past 5-10 years, but has recently seen a huge rise in popularity. So much so that various groups are now popping up to help collaborate and share information about living a nomadic lifestyle. This includes co-working spaces such as Hubud , long term travel platforms like WeHostels , online education platforms for supporting digital nomads such as SkillShare , and mobile apps to find co-working spaces, travel guides and even running routes in your current location such as Wanderu . Takeaways: With all of these players in the market who are all heavily vested in digital nomad success, it’s safe to say that this rapidly increasing community is here to stay.

  • Digital Nomads are Changing the Way We Work

    The digital nomadism lifestyle has introduced a number of benefits for people who wish to break away from their 9-5 jobs. Firstly, it’s changed the way we work. Instead of micro managing our time by tracking how many hours we have logged at the office, or being tied to our desks throughout the day, we are now free to go wherever we want whenever we please. We have no need for an alarm clock since waking up at noon is normal. We don’t even have a boss telling us what to do – so long as there’s a wifi connection!

    Takeaways: Working in the digital nomad way has given us the freedom to live a more fulfilling lifestyle. We don’t have to battle rush hour traffic, work with people we don’t like, or feel like our time is being wasted in the office anymore.

  • Digital Nomads are Driving Local Economies

    The number of digital nomads living and working around the world is growing. From Chiang Mai, Thailand to Bali, Indonesia, these nomads are exploring new parts of the world while helping drive local economies through their daily activities. For example:

    • Digital Nomads eat at local restaurants which then turn into popular digital nomad hangout spots;
    • They drink at bars and clubs which then turns into the local digital nomad nightlife scene;
    • They visit museums, hostels and co-working spaces which helps support local tourism.

    Takeaways: The next time you’re in a new city and need a wifi connection to do some work, chances are there is already someone waiting or willing to share their space with you.

  • Digital Nomads are Driving Innovation

    Remote collaboration has become a huge focus for many companies due to the speed of the internet nowadays. We are able to collaborate with people on the other side of the world, via video conferencing from our devices. This is causing a huge shift in company structure as we no longer have to be stuck in an office all day.

    Takeaways: It’s no surprise that global companies are now looking for ways to collaborate with employees on a digital nomad lifestyle, as opposed to traditional office settings. After all, within just one day, you could work with someone in London and then fly to Tokyo the next morning!

Bottom Line

Digital nomads are change agents driving innovation in the way we live and work. Where do you see yourself fitting into the digital nomad movement?