Digital nomads. Who are they, how much do they earn and spend in 2024?
Digital migration has become a significant phenomenon in the modern world. A new generation of independent workers, known as digital nomads, seeks freedom of movement and the ability to work from anywhere in the world. The rapid growth of this nomadic group draws attention to their lifestyle, incomes, and consumer habits.
General portrait of a digital nomad
Currently, there are approximately 35 million digital nomads worldwide, representing diverse cultures and countries. However, more than half of them are concentrated in several countries, with the United States of America (17.3%), the United Kingdom (7%), and Russia (5%) leading the pack.
For convenience, we have created a table with basic data about digital nomads. This table is compiled based on statistics from the Traveling Lifestyle portal.
| Parameter | Value |
|---|---|
| TOTAL | 35 million |
| NATIONALITY | |
| Americans | 17.3% |
| British | 7% |
| Russians | 5% |
| AVERAGE AGE | 32 years old |
| WORK ACTIVITY | |
| Freelancing | |
| Online entrepreneurship | |
| Blogging | |
| INCOME LEVEL AND LIVING COSTS | |
| Monthly Expenses | $1,724 |
| ANNUAL INCOME | |
| $50,000 – $100,000/in year | 75% |
| Over $1 million annually/in year | 2% |
| FIELD OF ACTIVITY | |
| IT | 19% |
| Creative Industries | 14% |
| Education | 9% |
| Sales and Marketing | 9% |
| WORKING ENVIRONMENT | |
| Preferred Workplace | Café |
| Country Change | Every 6 months |
| Annual Country Visits | |
| 1-2 countries | 73% |
| 3-4 countries | 19% |
| More than 5 countries | 8% |
Location Choice and Lifestyle
The main factors determining the choice of a country for relocation include internet speed and the cost of living. The average age of digital nomads is 32 years old, and they predominantly prefer freelancing or online entrepreneurship. Additionally, many of them are actively engaged in social media, maintaining blogs on YouTube and other platforms.
Financial Aspect
The average monthly expenses of a digital nomad amount to $1,724, with 75% of them earning between $50,000 and $100,000 annually. Despite this, 2% of nomads earn over $1 million per year. About 35% work for companies, while 46% prefer self-employment.
Lifestyle
Nearly half of digital nomads prefer to work from cafes, emphasizing their desire for mobility and flexibility. They also relocate approximately every six months on average and visit an average of one to two countries per year. The variety of fields they work in includes IT (19%), creative industries (14%), education (9%), and sales and marketing (9%).
Conclusion
Digital nomads represent a new type of global nomads, rewriting the rules of labor mobility and lifestyle. Their diversity and adaptability make them an essential part of the modern economy. However, despite their freedom and flexibility, challenges such as income sustainability and stable employment relationships exist.
