“The great resignation” sees the number of digital nomads explode

Mobile digital bank

More people than ever are opting for the digital nomad lifestyle.

Because the number of digital nomads around the world has increased and the number of requests we receive, we have put together a money transfer guide for digital nomads.

— Alon Rajic, Managing Director of Money Transfer Comparison

LONDON, ENGLAND, UK, May 19, 2022 /EINPresswire.com/ — The number of people ditching office jobs and heading overseas for a better work-life balance has skyrocketed in the past two years and shows no signs of slowing down, research shows.

Triggered by the pandemic and the realization that work wasn’t everything, people threw in the towel at work and announced it on social media, with hashtags like #quittingmyjob declaring their part of the phenomenon of “great resignation”.

Those who can have taken to the road with their laptops and become digital nomads, using technology to get work done as they travel the world. It is a change of workplace facilitated by the realization of employers that some employees do not need to be in the office at all to do their job.

Skyrocketing digital nomadism during and after the pandemic

The main digital nomad destinations are Thailand, Indonesia and Malaysia, in Southeast Asia, and Portugal, Spain and Romania, in Europe, showing a preference for sun, sand and exotic culture . Some of the top jobs for digital nomads include graphic and web design, digital marketing, writing, and teaching.

And while it can be difficult to track these wandering workers and know precisely how many there are in their tribe, labor management firm MBO Partners has seen a 112% increase in the number of nomads. American digital since 2019. His research reveals that there were 7.3 million digital nomads in the United States just before the outbreak of the coronavirus pandemic, 10.9 million in 2020 and 15.5 million last year.

Most (44%) are millennials, followed by those from Gen Z (21%), Gen X (23%) and baby boomers (12%), according to the study.

Issues affecting the lifestyle of digital nomads

Among the many difficulties that digital nomads can face when moving from one country to another – visas, cultural and language difficulties, suitable accommodation, fast and reliable wifi – are banking and money. Nomads may suddenly find that their cards aren’t working or accepted, or that they can’t send and receive money and get paid, said Alon Rajic, managing director of Money Transfer Comparison.

“Because the number of digital nomads around the world has increased and the number of requests we receive, we have put together a money transfer guide for digital nomads,” said Rajic, whose website editors provide independent reviews of money transfer services.

The Digital Nomad Banking Guide outlines the best services digital nomads can use for money transfers while avoiding high fees, complicated processes and slow payments. It provides alternatives to PayPal, which has fallen out of favor with many people due to high fees and poor exchange rates.

Money transfer comparison recommendations for digital nomad banking and transfer services include Wise, WorldFirst and HSBC overseas banking – all services, it says, that meet low-cost transfer demands. cost and high speed of digital nomads in countries around the world.

William Furney
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