It’s really not the best time to be a travelling nomad at present, with Christmas having seen a raft of international flights cancelled as the Omicron coronavirus variant continues to wreak havoc across Europe.
However, there remain clear and obvious rewards to living as a nomad, especially if you’re able to create a viable and sustainable source of income as a traveller. This way, you can live more financially free while travelling for longer, without having to adhere so strictly to a predetermined budget.
The question that remains, of course, is how can you earn money while travelling across the globe? Here are some ideas to keep in mind:
#1. Freelancing
The gig economy represents huge business in 2021, with this having more than doubled in size since 2016.
With 48% of this workforce seeking tasks in the gig economy as secondary income sources, it’s clear that you boost your earnings considerably through freelancing in the digital age.
The key is to market skills that are in-demand in the marketplace, such as copywriting, web design and SEO, while utilising networking sites like LinkedIn to target and interact with potential clients.
Those with social media skills are also in high demand in the gig economy, particularly if you have experience of managing branded accounts or creating social blogs that feature sponsored commercial posts.
#2. Trading and Investing
If you want to make the most of your travel experience and not become consumed by work, you may choose to seek out a passive income stream such as trading and investment.
Forex trading is particularly viable, for example, as this offers you access to highly liquid currency pairings (such as the EUR/GBP) and inflated leverage through platforms such as the MetaTrader 4.
Forex trading is also particularly popular among travellers, who can simultaneously pursue potentially disproportionate returns within a relatively short period of time (depending on your derivative trading strategy, of course).
More traditional buy-and-hold investment vehicles also remain viable when travelling abroad, especially if you’re a little more risk-averse and happy to receive slightly more modest (but reliable) dividends.
Blue-chip stocks and commodities like gold are more synonymous with this type of investment, with the latter particularly viable during periods of economic tumult.
#3. Get a Job Overseas
While this option isn’t ideal if you want to optimise your free-time while abroad, it’s highly recommended for those of you who want to immerse yourself in local cultures across the length and breadth of the globe.
Deepening on your precise destination, teaching English remains one of the most popular and rewarding jobs for travellers. There’s certainly a high demand to learn English as a second language in regions such as Southeast Asia, although some educators may require you to hold rudimentary teaching qualifications to impart your knowledge as a traveller.
Other popular jobs include bar and restaurant work and fruit picking, once again depending on your chosen destination and preferred travel schedule.
In some cases, you may even want to work for a sustained period of time before taking several months off, which will require you to work flexibly and have a clear itinerary laid out for a period of at least six months.