Digital Nomad Lifestyle - Why is it becoming more popular?

Some analyses predict that by 2025, 35.7 million Americans, or 22% of the workforce, would be working remotely. As a result of the pandemic, an increasing number of individuals are opting for a location-independent, technology-enabled lifestyle that allows them to travel and work remotely. They are known as digital nomads, and the idea is getting increasingly popular.

For years, the digital nomad lifestyle has been on the increase. Then, with the arrival of Covid-19, the popularity of this new manner of functioning skyrocketed. The number of digital nomads in the United States increased by about 50% to 11 million in 2020. According to the MBO Partners 2021 State of Independence Study, that number will rise to 15.5 million in 2021.

Here are some of the reasons why digital nomadism is on the rise and shows no signs of stopping.

Companies establish work-from-anywhere policies

According to a recent Qualtrics survey, 80% of employees searching for a new job stated it was critical that their future employment allows them to reside wherever. Employers are paying attention. Many organizations, like Lift, Airbnb, and 3M, are converting to permanent flexible work arrangements now that workers want to continue working remotely. Spotify, for example, promotes the concept that "work isn't something you go, it's something you do." Their work-from-anywhere strategy allows individuals to work from anywhere within specific geographic boundaries. For example, if a position is located in Sweden, the individual may be able to work remotely throughout Europe.

Foreign countries lure digital nomads

The interest in this new location's independent lifestyle has sparked an interest in?digital nomad visas. According to trend tracking site Exploding Topics, searches for the term “nomad visa” are up an incredible 2,400% over the past five years. As a result, countries are introducing visa options to lure foreigners for extended stays. For example, Brazil regulated the granting of both temporary visas and residence permits for immigrants who work for foreign employers. As a result, they may stay for one year and renew the visa for a second year. Most recently, Indonesia announced that the country is developing a new visa that would be effective for five years—longer than any other digital nomad visa currently available. To date, a total of 49 countries have jumped on the digital nomad visa bandwagon.

Families embrace the digital nomad lifestyle

Digital nomads used to be thought of as twenty-somethings backpacking from hostel to hostel, looking for anywhere they could plug in their laptop. But flexible work and homeschooling have helped usher in a new type of digital nomad that wants to see the world and create lasting memories with their families. It’s called the "anywhere worker," according to a recent?Lonely Planet survey. Most anywhere workers can be found in high-tech jobs, with 61% working full-time. About 70% of people in this category are between 24 and 44 years old, while 35% are between 45 and 54. Almost half are married, and, unlike the typical digital nomad, 70% are parents who take their families with them.

More products and services exist to support digital nomads

A growing number of products and services have emerged to help digital nomads navigate their lifestyle challenges. Some examples include:

Coliving and coworking spaces

These spaces ease the burden of balancing work and travel. You can settle in, get your job done and find inspiration by?connecting with others. Coworking spaces catering to digital nomads generally provide a place to work, temporary housing, and access to a local community of like-minded people.

Tour services

If you’re ready to hit the road and let someone else handle the details, you’re in luck. Companies like Nomad Cruise and Remote Year bring together groups of professionals who live and work remotely for a few weeks to a year. These companies handle all the logistics, allowing you to focus on work and explore new locations.

Online information and job sites

The growth in online talent marketplaces and remote job sites has made it easier for digital nomads to find work. There are also valuable sites that provide a wide array of useful data. For example, Nomad List has information on the cost of living, internet speeds, taxes, visas, and a variety of other information for over 1,200 cities worldwide.

People prioritize experiences over possessions

In recent years, there has been a shift from valuing possessions to focusing on experiences. Millennials, in particular, are fueling this trend. Rather than spend money on expensive watches or luxury cars, younger generations prefer to invest in experiences like concerts, rock climbing, and culinary classes.?According to one study, more than three in four Millennials would rather spend their hard-earned money on a thrilling experience or event over buying a product. In addition, 55% of Millennials say they spend more on events and live experiences than ever before.

As it turns out, you no longer have to be shackled to your desk eight hours a day, five days a week, to be productive. Instead, you can see the world, meet people from all walks of life, and be free to work where you want, when you want.