Rise of remote work and digital nomadism

As more people are able to work remotely, there has been a rise in demand for properties that offer a high quality of life, including access to nature, cultural attractions, and recreational activities. Some locations, such as Bali and Costa Rica, have seen a surge in interest from digital nomads seeking a more flexible lifestyle. The rise of remote work and digital nomadism is changing the way people think about where they live and work.

As technology continues to improve and businesses adapt to new models, the trend of remote work and digital nomadism is likely to continue to grow.

That’s right. The pandemic has accelerated the trend towards remote working, leading to an increase in demand for properties offering work-from-home spaces, digital equipment and quality internet connection. People who work remotely can choose to live in less expensive, quieter places farther from urban centers, which opens up new opportunities for rural areas and local communities.

They often seek culturally and naturally attractive destinations

Digital nomads, on the other hand, often seek culturally and naturally attractive destinations, as well as places with quality digital infrastructure.

TPlaces like Bali and Costa Rica are becoming increasingly popular with digital nomads due to their laid-back lifestyle, relatively low living costs, and community of remote workers and digital nomads.

Read also: Trends in the International Real Estate Market

Real estate market impact

It may also impact the real estate market, with growing demand for more flexible properties including serviced apartments, co-working spaces, short-term housing and storage for digital nomads and remote workers.

What can you do with the RISE of remote work and digital nomadism?

The rise of remote work and digital nomadism presents both opportunities and challenges. For individuals, it can provide greater flexibility and access to new opportunities. For businesses, it can offer cost savings, access to a wider pool of talent, and greater agility. However, it also raises questions about issues such as worker rights, tax laws, and infrastructure needs.

To make the most of this trend, individuals, businesses, and governments will need to work together to find innovative solutions that balance the benefits and challenges of remote work and digital nomadism. This may involve investing in new technologies, developing more flexible policies and regulations, and finding ways to support workers and businesses in the transition to this new way of working.

As an individual

It offers greater flexibility in terms of where and when you work, as well as the opportunity to explore new places and cultures. You can take advantage of this trend by developing skills that are in demand in the digital economy, building a strong online presence, and seeking out remote work or freelance opportunities.

As a business owner

You can adapt to this trend by offering remote work options, investing in digital infrastructure, and finding ways to manage a distributed workforce. You can also explore new markets and talent pools by hiring remote workers or partnering with other businesses around the world.

As a government or policy maker

You can support the rise of remote work and digital nomadism by investing in digital infrastructure, developing policies that support flexible work arrangements, and creating programs to attract remote workers and digital nomads to your region. This can help stimulate economic growth, attract new talent, and support the development of a more flexible and sustainable economy.

Are you ready to be a digital nomad?

Before getting started, you have to ask yourself the right questions: why become a digital nomad? What are your priorities? Which destinations will you favor and why? What job do you want to practice? At what pace? What sacrifices are you willing to make? The more your project is prepared in advance, the better your chances of success will be.

The nomadic life has as many advantages as disadvantages.

The positive points?

Work anywhere in the world, choose your schedules and manage your schedule freely, increase your quality of life by traveling around in inexpensive countries, meet new people, expand your personal and professional network, in short, live a life of unhindered adventures.

But not only. All digital nomads make the same observation: this immense freedom is accompanied by a great feeling of loneliness. By dint of working alone at home or in cafes, without a boss or colleagues, the lack of social ties can become very heavy.

Coworking or coliving spaces (a place where you can both live and work, like a campus) are a good alternative. In cities that attract digital nomads, events are regularly organized: conferences, workshops, or simply informal evenings around a drink to build relationships. They are found through word of mouth and local Facebook, Instagram groups.

Telecommuting while traveling also requires strict discipline, concrete motivation

Making the boundary between work and leisure porous inevitably generates frustration. Just the presence of your colleagues makes you feel guilty if you don’t work. When you’re on the road, it’s the exact opposite. We always feel guilty for not enjoying it more. Even if you stay several months in the same city, there is always more to see or do. It is difficult at first to work. It’s as if our brains have been trained to think that travel = vacation, which means: not working.

The budget of the digital nomad depends on the destination

The life of some digital nomad is focused, as its name normally suggests, on movement between territories. And you know it like me, the costs of living can vary from simple to sevenfold depending on the destination he has chosen. Indeed, the cost of living for a single person in westernized and more developed countries such as Western Europe, Northern Europe or the United States is much higher than it can be in America, South Asia or Eastern Europe.

Some nomads also underline the problems of dependence on hardware and Wi-Fi, visa worries and heavy bureaucracy in certain countries, or the feeling of not having a “real” home.

If you have children, think about their school, can they go to local schools? or international schools? What about their insurance? You need to find out that too!

The uncertainty of income from month to month requires rigor and effort

Sometimes you have to work more than between the four walls of an office. We advise you to define working hours and days, even if it is only three or four hours a day, and to plan a fun activity to do afterwards, to motivate yourself to finish the missions on time.

Your budget will depend on your lifestyle

And I think that’s what plays the most on your budget. When we are Western and go to countries with a lower cost of living, we tend to live more comfortably than we would in France in our small apartments of 30m² that we pay €1200. And that’s not a bad thing! We have the right to have fun while working.

Photo credit: Peggy_Marco via Pixabay