Behind the Rise of Digital Nomads

"There are 35 million digital nomads worldwide, contributing a global economic value of $787 billion per year" - TwoTicketsAnywhere, 2022.

The term "digital nomad" has been gaining traction in recent years as more and more people are choosing to work remotely and travel the world. The rise of digital nomads can be attributed to a number of factors including the growing availability of affordable, high-speed internet, the shift towards flexible working arrangements, and the desire to experience new cultures and ways of life.

One of the main drivers behind the rise of digital nomads is the increasing availability of affordable, high-speed internet. With the widespread adoption of smartphones and laptops, it has become easier for people to work from anywhere. Additionally, the proliferation of WiFi hotspots in coffee shops, libraries, and other public places has made it even easier for people to stay connected. The rise of cloud computing has also made it possible for people to access the tools and resources they need to work from anywhere.

Another factor contributing to the rise of digital nomads is the changing nature of work. The shift away from traditional 9-to-5 office jobs towards more flexible, remote work has made it possible for more people to work from anywhere. This has been enabled by the growth of the gig economy, remote jobs, and the increase of companies embracing remote work policies. This has resulted in a growing number of digital nomads who are location independent, and able to travel while working.

For many digital nomads, the desire to experience new cultures and ways of life is a big draw. They are attracted to the freedom and flexibility of being able to live and work anywhere, and they often seek out places that offer a good quality of life, a low cost of living, and plenty of things to see and do. This is a rise of the new travel trend, Slow travel, which aims to experience a place and its culture in depth. It provides an opportunity for digital nomads to take their time and fully immerse themselves in a new place, rather than just visiting as a tourist. This type of travel allows them to truly get to know a place and its people and to experience the local culture in a way that is not possible with a shorter trip.

The rise of digital nomads has also led to the development of new types of accommodations, such as serviced apartments and co-working spaces, which are tailored to the needs of remote workers. Serviced apartments, in particular, offer more space and privacy than a traditional hotel, and often come with amenities such as gyms, pools, and on-site parking. These types of accommodations are more cost-effective for long-term stays and are becoming increasingly popular among digital nomads. At TheSqua.re, we have over 300,000 serviced apartments in over 560 cities located across the globe. Have a look for yourself here.

So there you have it, the rise of digital nomads is a reflection of the changing nature of work and the increasing availability of technology that enables people to work remotely. The trend of digital nomadism is likely to continue as more people seek the freedom and flexibility that comes with working from anywhere in the world. The industry will adapt to the needs of this new type of traveller, as the number of digital nomads increases, the demand for sustainable accommodations and workspaces will also grow.