Nov 15, 2021
We’ve looked at how you can land rewarding digital nomad jobs and talked about the importance of establishing your niche. Now we’re going to talk about money.
How much do digital nomads make? If you’re looking to branch out and embrace the life of a globe-trotting freelancer, the amount you’re likely to earn is probably one of your most burning questions.
While some might say the answer is, “how long is a piece of string?”, there is fairly solid information on digital nomad income ranges—and we’re going to explore them right now.
Here we go.
First of all, it’s worth noting that 49% of digital nomads make a higher income than they did when working a more traditional taxed-as-you-go job. And, the same study suggests that 81% of digital nomads are satisfied with their professional situation.
Contentment is a driving factor in how much you can make as a digital nomad because if you’re happy and motivated, you’re likely to remain productive as well as proactive, and land better clients.
We know that if you set off on your digital nomad journey with care and consistency, you’re likely to be satisfied and earn a decent income. But, what about the hard numbers?
Studies suggest that one in five digital nomads make between USD50,000 and $99,000 per year once they’re up and running. Plus, remote workers in general can expect to make an average rate of between $10 and $30 per hour.
Also, digital nomads in the marketing field generally make between $40,000 and $99 per year. Not a terrible income by any stretch
Another interesting discovery is the fact that ‘digital nomadism’ is helping to close the gender pay gap and (rightly) even the professional playing field.
In fact, around 30% of fully remote businesses have either women CEOs, founders, or leaders, compared to a mere 5.2% of female CEOs in traditional workplaces. A solid step in the right direction.
As digital nomading is remote by nature, breaking down digital nomad incomes according to country isn’t a clear-cut process.
But, it is possible to understand where you can thrive as a digital nomad by looking at a range of factors.
For example, if you’re working as a digital nomad in a nation that is not only equipped with a reliable WiFi infrastructure, is a rewarding place to live, offers a wealth of networking opportunities, and has a reasonable cost of living, you’re going to thrive. And, of course, if the opposite is true, well then you won’t.
Forward-thinking nations like Canada, Australia, New Zealand and the UK now offer digital nomad visas that allow successful applicants (for a fee of usually between $60 and $5,000) to work remotely for a decent length of time, in some cases, without paying income tax.
Countries that embrace digital nomadism are likely to be more lucrative for traveling freelancers as making a living in these places will ultimately be easier.
Now, an extensive study from ClubMed—officially known as the digital nomad index—ranks a number of nations based on factors including temperature, internet quality, opportunities, and cost of living.
These nations have been bestowed with a digital nomad index score. According to the results, here are the top 10 places to work as a digital nomad.
If you’re thinking about branching out as a digital nomad, you might want to consider these countries due to their amenable costs of living, outstanding landscapes, and reliable internet speeds.
They may serve as good places to start while you're establishing yourself by giving you the breathing space to incrementally increase your income without the worry of draining your budget.
Digital nomadism is clearly a rewarding, well-compensated, and most importantly, increasingly equal, means of making a living. You can experience living among different cultures while you’re working, too.
When considering the question, ‘how much do digital nomads make?’—income ranges and numbers are important—and in this case, the numbers look good. But, it’s equally vital to consider your satisfaction, wellbeing, and progression when thinking about how much you can earn as a globe-trotting freelancer.
In addition to choosing rewarding, amenable countries to work in, how you approach your career will also have an impact on your income and growth.
One of the best ways to thrive as a digital nomad and earn the top end of the income scale is to continually upskill yourself. By adapting to the ever-changing landscape around you and taking the time to hone your digital marketing competencies, you will become more confident, more confident, and more employable.
Gaining niche digital marketing skills and qualifications as you travel will push you ahead of the pack, empowering you to command more for your time. It’s this mindset that will ensure you earn near $99,000 (adventure permitting) in the end.
“Life is either a daring adventure or nothing.” Helen Keller
We wish the very best of luck and to gain the skills you need to be a successful globe-wandering digital nomad, explore the many specialist digital marketing courses we have to offer.