34% of global digital nomads earn $50k-$100k per year

The market for digital nomads has grown exponentially over the past decade. Today, digital nomadism is a growing trend in the business world. Certain events such as the coronavirus pandemic have led people to consider a remote working lifestyle. Subscribers of this way of life generally combine remote working and travel for various reasons and lengths of time.

Available data indicates that there are about 40 million digital nomads worldwide, most of whom are from the United States. And according to a Moneyzine data analysis, 34% of global digital nomads earn $50k-$100k per year. Additionally, about 7 percent of the digital nomad community earned less than 25,000 U.S. dollars annually. 33% of digital nomads worldwide had an income level between 100,000 and 250,000 U.S. dollars per year.

CEO of Moneyzine, Luke Eales, says, "Thanks to the internet, there’s now no reason to be stuck at a desk job and tied down in one place. Remote workers - including digital nomads - are more productive. They have fewer distractions and interruptions and can focus better when disconnected from the office. In addition, some digital nomads earn more than others because they have several clients and focus on higher-paying freelance projects and certifications."

Are digital nomads more productive?

Digital Nomads are a new breed of wanderlusters with specific skills: the ability to work remotely, travel the world, and thrive on adventure. Remote work is growing rapidly as companies realize how much more productive their employees are when they're not stuck in an office.

The digital nomad movement is so vast and growing so quickly that there are now yearly gatherings where nomads from around the globe meetup to swap stories, tips, and tricks on balancing travel with high-level productivity.

The earning potential of a digital nomad depends on your skills, where you choose to base yourself while you travel and work, and how hard you're willing to work.

Many digital nomads enjoy having a flexible schedule so they can spend time on the road or at home with their families. As a digital nomad, you can live the lifestyle you love, whether it be leisurely or adventurous travel. Working remotely has also become more appealing for many millennials as employers offer more flexible working arrangements.

What are the biggest challenges for digital nomads?

Digital nomads generate income through their work as freelancers or full-time employees of companies located in other countries. They do so depending on the type of work they do and the country in which they live.

While working as a digital nomad allows people to work from anywhere in the world, it has some downsides.

First, it’s unlikely that you’ll be able to take a traditional vacation even if you want to. So you must learn to take breaks in new, interesting ways while still being productive. Also, your social life could suffer since you won’t have coworkers nearby whom you can meet up with for drinks after work or lunch every day after a Skype meeting.

Still, the concept of digital nomadism is picking up momentum in the world today. The good news is that digital nomads may be able to earn more than they would if they lived in one place and had a regular job.