The success of your digital nomad career and income will depend on several factors, including where you choose to work and how you approach your work.
One of the key concerns when considering a career as a globe-trotting freelancer is likely to be income. How much can you expect to make as a digital nomad?
Although some might say the answer is inconclusive, there is actually a fair amount of information available on the typical income ranges for digital nomads. Let’s take a closer look.
It is important to note that according to a study, 49% of digital nomads earn more than they did in a traditional 9-5 job with a steady income. Moreover, 81% of digital nomads are content with their professional life.
Happiness and satisfaction play a big role in determining the income of a digital nomad, as those who are content and motivated tend to be more productive and attract better clients.
While starting your digital nomad journey with a plan and consistency can lead to satisfaction and a good income, let’s take a look at some concrete numbers for a better understanding.
According to studies, one fifth of digital nomads earn an annual income between AUD60,000 and $120,000 once they have established themselves. Additionally, remote workers in general are reported to earn an average rate of between $15 to $45 per hour That is Australian, so you can extrapolate out from there..
Furthermore, digital nomads in the marketing industry typically make between $50,000 and $120,000 per year. This is a reasonable income level to achieve.
Another thing to consider when asking how much can a digital nomad make is that studies suggest that remote work is helping to bridge the gender pay gap and level the professional playing field. In fact, about 30% of fully remote businesses have female CEOs, founders, or leaders, compared to just 5.2% of female CEOs in traditional workplaces. This is a significant advancement towards equality in the workplace.
To determine digital nomad income by country is not a straightforward task due to the nature of remote work. However, you can determine where you can succeed as a digital nomad, or just think how much can a digital nomad make, we need to be considering various factors. If you work in a country with a solid internet infrastructure, a favorable living environment, abundant networking opportunities, and an affordable cost of living, you are likely to thrive as a digital nomad. On the other hand, if these conditions are not met, your success may be limited.
Progressive countries such as Canada, Australia, New Zealand, and the UK offer digital nomad visas that enable freelancers to work remotely for a specified period, in some cases, without paying income tax. The cost of these visas usually ranges from $80 to $7,000.
Locations that support digital nomads are more attractive to traveling freelancers, as earning a living in these countries will be more manageable, making them more profitable for remote workers.
These top 10 digital nomad destinations have been ranked based on their digital nomad index score. They offer favorable living costs, breathtaking scenery, and reliable internet connectivity, making them ideal places to start your digital nomad journey. By setting up shop in one of these locations, you can focus on building your income without worrying about draining your budget.
As a digital nomad, you can not only earn a good income, but also immerse yourself in diverse cultures while you work.
When considering your earnings as a digital nomad, or just wondering how much can a digital nomad make, it’s important to look at the income ranges and numbers, which are favorable. But it’s equally important to think about your happiness, well-being, and personal growth.
The success of your digital nomad career and income will depend on several factors, including where you choose to work and how you approach your work. To earn the top income in the digital nomad industry, it’s crucial to continuously upskill and adapt to the changing landscape. Upgrading your digital marketing skills and niche qualifications will set you apart and increase your earning potential. With the right mindset and approach, it’s possible to earn close to $100,000 as a digital nomad.