The digital nomad way of life seems to have gone mainstream, in keeping with a brand new report from MBO Companions, with 17.3 million American employees at present describing their work state of affairs that manner. Total, about 11% of American employees determine as digital nomads, in keeping with the Digital Nomads 2023 report.
For the reason that begin of the pandemic, the variety of digital nomads has tripled, rising by 131 p.c from 2019 to 2022, the researchers discovered. Annual development is leveled at 2% from 2022.
“What we’re seeing right here is that there is a a lot, a lot larger propensity for Gen Z to be digital nomads than another group of individuals on the entrance finish of the movement of individuals coming into the workforce,” says Miles Everson, CEO of MBO Companions. “Anticipate digital nomads to be a bigger share of the overall workforce.”
The development is sweet information for employee happiness. 80% of digital nomads say they’re very glad with their work, in comparison with 59% of non-digital nomads.
Digital nomads additionally are usually glad with their revenue, with 82% of digital nomads saying they’re glad or very glad with their revenue. Amongst employees who aren’t digital nomads, 69% report the identical stage of satisfaction. Their satisfaction could also be influenced by their luck with jobs that permit them to journey and their means to cut back the price of residing by means of “geoarbitrage” by staying in locations the place requirements are extra reasonably priced than within the US.
Miles Everson, CEO of MBO Companions, says Gen Zers are main the best way on the subject of digital … [+]
Nevertheless, reporting their revenue precisely is tough, the researchers notice, as a result of some work part-time or journey solely part-time. One in 5 say their family revenue is lower than $25,000 a 12 months, whereas 72% say it is $75,000 or extra.
Almost 80% of American employees who’re allowed to telecommute come into the workplace no less than two days per week, the report discovered — and that quantity is down 2% from final 12 months. Nevertheless, the variety of conventional employees who’ve been digital nomads has tripled since 2019.
In the meantime, the variety of self-employed digital nomads grew by 14%.
Though many employers are inviting their groups again to the workplace, the pandemic has launched new attitudes about the place to work. The youthful the employee, the extra possible they’re to need to work wherever they need. 58% of digital nomads belong to Technology Z (21%) or millennials (37%). And 59% of digital nomads say they plan to proceed their way of life.
“Gen Z has a a lot larger tendency to say, ‘I am not going to give you the results you want in order for you me within the workplace,'” says Everson. “Individuals place a excessive worth on mobility.”
Males are additionally extra more likely to embrace the development than girls. 56% are male, 43% are feminine and 1% are non-binary.
Everson sees this shift as a mirrored image of a broader mistrust of central authorities, an concept for a lot of that extends into conventional workplaces and is growing throughout all age demographics. “They are not tied to conventional constructions, whether or not it is a job or a house,” he says. “The whole lot is way more versatile.”