Recently, there has been a lot of discussion about how more and more people are deciding to adopt the digital nomads lifestyle. Everyone seems to be jumping on this bandwagon (sometimes literally), and it is anticipated that the number of people who identify as digital nomads will continue to rise.

Which cities are the most affordable for digital nomads to reside in?

When people decide to work remotely from their computers while traveling the world, this is one of the most frequently asked questions. A city that is more affordable than their native country can be found by digital nomads, which is a rare chance. As a result, they can get even more money out of their job and live a little more comfortably than they would at home.

You should include these locations in your trip itinerary if you’re looking for the most affordable cities to live in as a digital nomad so that you may increase your savings, launch your own business, or simply get more for your money.

• What Exactly is a Digital Nomad? 
• Top 10 Cheapest Cities for Digital Nomads
• Where Should I Stay as a Digital Nomad?
• Is Sri Lanka a Good Place for Digital Nomads?
• Is it too Late to Become a Digital Nomad?
• Do Digital Nomads Pay Tax?
• How Much do Digital Nomads Earn?
• Why is Portugal Good for Digital Nomads?
• How Much Money do you Need to be a Digital Nomad?
• What are the Disadvantages of Being a Nomad?

What Exactly is a Digital Nomad? 

A digital nomad is someone who works remotely online, giving them the ability to travel full-time and conduct business from any location with WiFi. Although it could seem glamorous, being a digital nomad requires serious commitment and work.

Read Also: Top 10 UK Cities to Enjoy Working From Home

Being a mobile entrepreneur requires learning how to strike a balance between work and play. While being location independent is ultimately a pretty great situation, not all places are suitable for digital nomads.

Before deciding on their next place, a digital nomad should take into account a variety of aspects, such as the cost of living, the availability of WiFi, crime rates, and the ease of obtaining a visa.

The nomad cost is the monthly expense for a digital nomad to eat out three times a day and stay in a hotel or private room with private bath in a hostel.

These “nomad prices” should give you a good indication of how much it will cost you to live depending on how far from the city center you’re willing to remain, whether you can cook for yourself, and whether you decide to add private holiday rentals and short-term apartment rentals.

Other aspects to take into account include the climate, the accessibility of diet-specific foods, the distance to tourist attractions, and the availability of public transportation, but these are all personal preferences, so this list should serve as a decent place to start.

Top 10 Cheapest Cities for Digital Nomads

The cheapest cities for digital nomads are listed below. While compiling this list, we considered the cost of transportation, food, and rent. These cities can be found all over the world, offering you a wide range of options to include in your vacation itinerary.

Prices are provided as ballpark figures and averages from Numbeo. These could be modified. Depending on where you stay in the city or where you find lodging, you might potentially discover cheaper or more expensive costs.

1. Athens, Greece

• Rent for Apartment in City Center: $515/month
• One-Way Transportation Ticket: $1.40
• Meal at an Inexpensive Restaurant: $12.84

The capital of Greece, Athens, is the first place we stop. This charming city offers a wealth of activities, wonderful cuisine, and a long history. You are close to beaches and can take a quick ferry to one of the many Greek islands.

Athens’ bustle will more than satisfy your desire for adventure and travel. Additionally, the city is filled with coworking spaces and cafes where you may sit and work for a few hours.

Navigating public transit is not too difficult. Due to Athens’ size and the abundance of neighborhoods that demand exploration, you’ll use it a lot. Greece is one of the few nations in Europe that grants digital nomads visas, allowing them to reside there for a year.

2. Belgrade, Serbia

• Rent for Apartment in City Center: $460/month
• One-Way Transportation Ticket: $0.85
• Meal at an Inexpensive Restaurant: $7.35

Belgrade has become one of the most sought-after locations for digital nomads because of its incredibly low costs and quick internet. There are numerous coworking spaces in Serbia’s capital city that are exclusively for digital nomads, and there is a thriving cafe scene there. There are lots of people working remotely who are drinking coffee and accomplishing tasks.

What draws digital nomads to Belgrade, besides the reasonable costs and steady wifi? It might be because of the sizable digital nomad culture, fun nightlife alternatives, widespread adoption of digital technology, and the friendliness of Serbians toward outsiders.

Most nationalities have a 180-day limit on their stay in Serbia, which is 90 days. Serbia, however, is not a part of the Schengen Area, which is excellent news for digital nomads who need to leave the region to avoid overstaying.

3. Budapest, Hungary

• Rent for Apartment in City Center: $485/month
• One-Way Transportation Ticket: $1.09
• Meal at an Inexpensive Restaurant: $7.79

Budapest has become a favorite location for digital nomads in recent years. Another European capital that supports digital nomads is this one. Budapest provides remote workers with a high-quality way of life, including incredibly dependable wifi, coworking spaces, and reasonably priced housing.

Budapest is home to a vibrant digital nomad community and a wide range of fun activities. You’ll fall in love with this city very quickly, from going to museums to taking part in the nightlife to getting outside the city and seeing Hungary’s natural beauty.

Additionally, Hungary just unveiled the White Card, a visa for digital nomads that allows them to reside there for a year.

4. Canggu, Bali, Indonesia

• Rent for Apartment in City Center: $387/month
• One-Way Transportation Ticket: $0.24
• Meal at an Inexpensive Restaurant: $1.74

Moving on to Southeast Asia, one of the least expensive places to live as a digital nomad is Canggu, a district of Bali, Indonesia. Due to its paradisiacal characteristics and extraordinarily low cost of living, Bali has long been a favorite vacation spot for remote workers who travel.

But due to its growing popularity, Bali has recently grown more expensive. It remains one of the least expensive places to live in, nonetheless. Being close by the ocean will allow you to see some of the most breathtaking sunsets.

There is a thriving population of digital nomads who work from the several coworking spaces and cafes scattered across the city. It’s also not too difficult to get around Canggu, especially if you rent a scooter, which gives you complete freedom to explore the island at your own pace.

The majority of nations are permitted a 30-day stay in Indonesia, however, the tourist visa is extendable for an additional 30-days. Those who work remotely can also apply for a 60-day visa before they travel to Indonesia.

5. Chiang Mai, Thailand

• Rent for Apartment in City Center: $380/month
• One-Way Transportation Ticket: $0.90
• Meal at an Inexpensive Restaurant: $2.09

Thailand is another incredibly popular and desired place for digital nomads. Chiang Mai is situated inland in the north of the country, but most people envision living on a tropical island or close to the ocean. Digital nomads still swarm to this affordable city to take advantage of everything it has to offer.

Chiang Mai is one of the nicest and most affordable towns for digital nomads, with amazing coworking spaces, excellent street cuisine for less than $1, and daily night markets full of local crafts and goods.

You won’t feel like you’re missing anything if you live in Chiang Mai because it has everything. Additionally, it’s only a few bucks to travel to nearby cities like Chiang Rai and Pai for a brief getaway from the crowds.

The majority of countries have a 30-day stay limit in Thailand, with the option to extend it for another 30-day period.

6. Colombo, Sri Lanka

• Rent for Apartment in City Center: $467/month
• One-Way Transportation Ticket: $0.20
• Meal at an Inexpensive Restaurant: $1.98

Colombo is one of the less expensive places to live as a digital nomad, making it one of the most adventurous locations for them. The people and cultures on the island of Sri Lanka are culturally diverse. Even though Colombo is home to some upscale businesses and hotels, life on the island generally moves at a fairly sluggish pace.

Due to its low cost of living and laid-back attitude, this city is swiftly growing in popularity as a top choice for remote workers who travel. It’s a great spot to unwind, unwind, and work at your leisure without spending a fortune.

You may benefit from the breathtaking scenery that surrounds the city, as well as the stunning beaches and sunsets. You’ll soon discover that you’re a part of the city’s sizable digital nomad community as well.

The majority of nationalities are permitted a 30-day tourist visa stay in Sri Lanka. You may, however, extend this visa for a total of 180 days.

7. Da Lat, Vietnam

• Rent for Apartment in City Center: $375/month
• One-Way Transportation Ticket: $0.26
• Meal at an Inexpensive Restaurant: $1.50

Surprisingly, there are certain locations in Southeast Asia that aren’t swarming with digital nomads right now. One of those cities that is still seen as being fresh and developing is Da Lat. In Vietnam’s mountains, you’ll enjoy milder temperatures, a great wifi connection, and stunning views of the surrounding countryside.

In order to spend some time away from crowded cities and to reconnect with nature, many digital nomads travel to Da Lat. Many visitors enjoy going on hikes in the mountains or taking leisurely strolls through the forest.

There are numerous coffee shops and coworking spaces in the vicinity that offer free wifi. Additionally, the locals are quite kind to tourists and digital nomads.

Most nationalities are permitted to stay for at least 30 days in Vietnam. However, there is a chance to have your visa extended to 90 days if you receive one at the airport.

8. Ho Chi Minh City, Vietnam

• Rent for Apartment in City Center: $562/month
• One-Way Transportation Ticket: $0.31
• Meal at an Inexpensive Restaurant: $2.21

Ho Chi Minh City is one of the more well-liked locations for digital nomads in Vietnam. Although a little more pricey than our earlier-mentioned cities, this hotspot for startups and remote employees nonetheless has a lot to offer.

There are plenty of coworking spaces and cafes in the city that offer free wifi. Particularly when you eat street food for dinner like most locals do, the cuisine is excellent and quite affordable. Additionally, there are some of the most breathtaking beaches in the world close by, which you must not miss.

Ho Chi Minh City’s hustle and bustle is pretty thrilling, but it may also be a little daunting for newbie digital nomads. You do, however, soon adapt to the way of life. Actually, if you’re new to being a digital nomad, it’s a great place to start.

If you are granted a visa upon arrival at the airport, your 30-day stay in Vietnam can be extended to 90 days.

9. Krakow, Poland

• Rent for Apartment in City Center: $562/month
• One-Way Transportation Ticket: $1.46
• Meal at an Inexpensive Restaurant: $6.46

Krakow is among the most affordable locations in Europe for digital nomads. Digital nomads will find everything they need within these lovely streets in this, the second-largest city in Poland.

In Krakow, a city bursting with fascinating history, stunning architecture, and a singular culture, you’ll discover a thriving digital nomad community. In addition, the city has a large number of coworking spaces and a vibrant cafe working culture. Free wifi is simple to find in public areas.

If you’re concerned about the speed of the wifi, there won’t be any issues. Poland’s top-rated wifi can be found in Krakow. It’s the ideal city to focus fully on your work as a digital nomad while simultaneously conserving money.

Poland is a member of the Schengen Area, thus you are permitted a 90-day stay within a 180-day span there.

10. Koh Lanta, Thailand

• Rent for Apartment in City Center: $300/month
• One-Way Transportation Ticket: n/a
• Meal at an Inexpensive Restaurant: $1.49

Koh Lanta is the place to go if you’re looking for a tropical location to experience the conventional island lifestyle as a digital nomad. This Thai island’s recent development makes it the ideal location for digital nomads to live and work close to a beach.

The island is considerably smaller and far less expensive than other Thailand island vacation spots with a more genuine feel. Beautiful beaches can be found along with welcoming cafes where you can work.

The majority of digital nomads advise acquiring your own mobile hotspot subscription despite the often sporadic wifi. You can essentially work from anywhere on the island with this. On Koh Lanta, you can choose between having a peaceful experience in nature and going to raucous nightclubs.

Most travelers to Thailand are permitted to stay for 30 days, with the option of an additional 30 days before they must go.

Where Should I Stay as a Digital Nomad?

Except for accommodation, the lifestyle of a digital nomad is one of adventure and fun. One of the main challenges of the lifestyle can be finding affordable housing that meets your demands. Finding a new location to reside is necessary because being a digital nomad entails traveling around frequently. We all hope our new home or apartment would be ideal for us, but finding the correct one requires some research.

We look at the choices for either short- or long-term rentals for each of the digital nomads.

1. Facebook Marketplace

A fantastic resource for long-term rentals at local rates is Facebook Marketplace. Almost every city in the globe may be searched, and you can set the pricing range, the number of bedrooms and bathrooms, the kind of lodging, and the size in square feet or square meters.

When traveling somewhere where your home currency is more valued than the local currency, this platform is extremely useful. For instance, an apartment in Buenos Aires, Argentina, can be rented for slightly over $200 per month, or around $40,000 pesos.

2. Facebook Groups

Additionally, there are numerous housing and rental organizations across the world on Facebook. Sublets, short- and long-term rentals, house sharing, and other options are available. Additionally, you can post what you’re seeking for in these groups to check if any members may already have it. You must perform a search for “housing in X city” and observe the outcomes. In major locations like Paris, New York, Milan, or other popular digital nomad places, you’ll probably have greater success with this choice.

Facebook groups are a fantastic way to meet other nomads outside just booking accommodations. To meet new people, look for digital nomads in your neighborhood.

3. Airbnb

Airbnb is possibly one of the most well-liked sites among digital nomads. For nomads, Airbnb has a lot of advantages. As Airbnb is diligent in checking hosts, you are less likely to encounter frauds. To discover more about the area, read reviews left by other visitors.

However, the reductions offered for lengthy reservations are the biggest perk. For reservations lasting seven nights or more, some hosts offer a weekly discount. For monthly stays, most hosts offer even higher discounts. For instance, we received a 62% discount on the overall cost of our one-month stay in Torino, Italy. You can considerably lower the price of your hotel nightly by utilizing these offers.

4. Trusted Housesitters

Being a home or pet sitter for those going out of town through TrustedHousesitters is a way to explore the world on a tight budget. The annual price for homesitters is $119, however, after one or two trips with free lodging, this is more than covered. There are members in 130 nations, therefore accommodation is available everywhere. All you have to do is look after the owner’s pets and house while they are away. The site provides free background checks as well as insurance against property damage or theft.

This is a fantastic platform for nomads who have pets but are relocating and are unable to take their animals with them.

5. Anyplace

Anywhere offers furnished flats for visits of a month or longer that are created especially for remote workers. Every home listed on Anyplace has been investigated and confirmed to provide a reliable listing. There are hostels, co-living spaces, and complete apartments available, so there is accommodation for all types of digital nomads.

After deciding on a location, you submit an application, and Anyplace does a free credit and background check on you. Then you enter and begin to work or explore. High-speed Wi-Fi is available at every place, which is crucial for remote employees.

6. SpotAHome

SpotAHome is the best option for accommodations in Europe. Using this platform, renters and landlords may communicate safely. Spotahome checks landlord listings in advance for you. Then you make a booking request, and if the landlord agrees, SpotAHome charges your credit card. The landlord then receives the money 48 hours after you move in. After you move into your new home and sign a lease, your landlord will be your primary source of contact.

The advantage in this situation is that Spotahome inspects each house, so you can be confident in what you are viewing online. Additionally, they provide security from fraud and last-minute cancellations by the landlord, even offering to cover your hotel expenses in the event of a cancellation. Top cities at the time of writing were found in Spain, Portugal, and Italy, but we expect the platform to expand soon.

7. Nomad Stays

Another website made especially for remote employees is Nomad Stays. Instant booking, Wi-Fi, and open pricing are all provided by Nomad Stays. Additionally, their listing includes workspaces that are located in the properties they promote, in close proximity to the properties, or both.

Due to the growing acceptance of the digital nomad lifestyle, there are already 179 locations in 63 nations. You may be sure that the kinds of places match your demands because they openly proclaim to be “Built by Nomads for Nomads.”

When you click on one of the suggested cities, Nomad Stays takes you to a page with a ton of useful information. You can find the weather, yearly activities, events, and properties that are currently available. The main advantage of Nomad Stays is that nomads are aware of what other nomads want and need to know about a place.

8. Co-living spaces/hostels

Although co-living spaces and hostels are better for short-term lodging, they are fantastic places to meet other travelers. This is a terrific method to travel the world if you have a limited budget and don’t mind sharing a residence or living space with others. Similar to Airbnb, Hostel World is an online travel agency that specializes in booking hostels all over the world. Hostels range from shared facilities and bunk beds to private rooms and bathtubs.

Digital nomads can utilize a variety of different platforms to look for lodging. Everything relies on your goals and the length of time you intend to spend in the location you’ve selected. On these platforms, you can discover anything from cheap hostels to opulent mansions, so do your research and reserve one that suits your needs.

Is Sri Lanka a Good Place for Digital Nomads?

In the Club Med ranking for the best country for digital nomads in 2021, Sri Lanka was ranked No. 2 and continues to rise in popularity as one of the most sought-after destinations to visit by digital nomads from all over the world, and for good reason! Sri Lanka is a lush island nestled among the waters of the Indian Ocean and peppered with flora, fauna, and a myriad of cultures that differ from one part of the island to the next.

Here are the reasons why Digital Nomads are now picking up Sri Lanka as their next destination and why YOU should be packing your bags for a getaway to the stunning islands of Sri Lanka. 

Stunning nature: beautiful beaches and mountains

The island nation of Sri Lanka, originally known as Ceylon, is tucked away in South Asia and is home to a variety of languages, customs, and distinct ethnic groups that vary from region to region.

Nature is undoubtedly amazing and a sight to behold because the flora and fauna remain largely unaltered by mankind. Visitors to Sri Lanka will never run out of things to do, from the captivating beaches where they can bathe and swim to the cool highlands where they can go hiking, to the rainforests and habitats for the adventurous.

Sri Lanka is a breathtaking place, and most digital nomads, if not all of them, have it on their travel bucket list.

Low cost of living

The cost of living is quite low in Sri Lanka. If you’re a budget traveler, the average cost per person per day for tourists is around $30. Being a digital nomad in Sri Lanka would cost between $700 and $1000 per month in expenses, which would include travel expenses, food and housing costs, internet or data bills, and, if necessary, coworking space prices as well.

The secret to making your budget work is to stick to it and do a lot of research. It also helps to get friendly with the locals since they can give you advice on how to get around as a local, rather than as a tourist, which will undoubtedly help with the costs.

Overall, Sri Lanka is rather budget-friendly and cheap when it comes to cost of living and can even be considered low due to how much one can have with a small amount. 

Surfers Paradise

First things first, Sri Lanka is an island located in the Indian Ocean and as such is home to numerous gorgeous beaches. One of the best surfing locations in the world is Sri Lanka.

One such place, Koggala Beach, is perfect and prepared for surfers of all levels. The ideal season to surf is in the winter, and it boasts a large area where everyone can catch their fair portion of the waves.

Ahangama Sand, which is 20 minutes from Koggala and has a large stretch of beach, some snorkeling opportunities, and a few surf camps, is a good place to check out if you’re in the region. The greatest surfing season is from December to March.

Mirissa is the last person on our list. Both tourists and locals use it, and it meets the demands of both beginning and advanced surfers. After a brief catch of the waves at the end of the day, one may also visit the beach cafés and bars!

Coworking spaces and Coliving in Sri Lanka

Colombo and Mirissa have the majority of the top coworking spaces and cafes in the world. The base fee for these co-working spaces might range from 750 to 2000 rupees per day, depending on the amenities provided and the location of the place.

Some of these co-working spaces are marked on lower grounds surrounded by nature and fauna, while the majority are situated in high-rise structures to give the impression of an office. You can easily go between upper and lower floors if you desire a change of scenery. If you’re looking for a busy environment, cafes are another choice.

Although the coworking amenities, especially the internet connection, may not be stable, head to Mirissa or one of the beach places that are well-liked by tourists and surfers if you’re seeking for more relaxed circumstances. The good news is that Weligama, one of the top surfing locations in Sri Lanka, is getting an Outpost branch. Outpost is a coliving and coworking facility that digital nomads already adore in Bali.

Is it too Late to Become a Digital Nomad?

It’s appealing to consider becoming a digital nomad. The remote work lifestyle may be a wonderful combination of experiencing new places, starting a business, making new experiences, and making decent money with the appropriate attitude.

Even better news: you can start living as a digital nomad at any point in your life. Although you might believe that all digital nomads are members of Generation Z, you can start living a nomadic lifestyle in your 30s, 40s, or beyond.

Even better, you possess certain significant benefits that younger people do not, which can kickstart your remote working lifestyle.

If you’re in your 30s or 40s, you’ve had at least ten or twenty years of practical work experience. You likely have a decent concept of the activities you like to undertake and the abilities that people will pay you for. This cuts down on the time and effort needed to determine the kind of digital nomad business you can operate. It’s time to apply your previous work expertise to a remote working environment.

Your unique combination of age and experience can really open up the world of digital nomad careers. Here are some you might want to consider:

Niche Writer or Blogger

There is a ton of advise on “becoming a writer or blogger,” but this discussion is a little more targeted. In essence, this is about digging deeply into your past work and using that to shed light on your current writing or blogging. You’ll be able to relate to people in similar situations thanks to your real-world experience.

Consultant

For the purpose of offering highly focused, pertinent advise, consultants rely on leveraging their strategy, skill set, and track record. You can start a profitable consulting business by utilizing the expertise you’ve acquired throughout your past profession.

Digital Marketing Expert

There are many specialized niches you may enter in digital marketing, which is fantastic for elder digital nomads. There are many different jobs where you may demonstrate your value, regardless of whether they are in content marketing, design, social media, SEO, content strategy, or something else.

Developer and Coder

Being an excellent coder demands expertise, and creating apps necessitates both solid commercial acumen and an engineering background. Because you can mix your real-world expertise with the newest coding techniques to produce best-in-class apps, development is the perfect vocation for elder digital nomads.

Do Digital Nomads Pay Tax?

Because it depends on your host nation, this is tricky. Short-term nomads won’t be subject to local taxes and will likely continue to pay their home country’s taxes as usual.

But if you decide to stay permanently, certain nations, like France, have harsher rules. According to Kate Kurdziej, who is located in France and operates the IT company the Olivier Consultancy, UK citizens who reside in France are required to pay French taxes in addition to any necessary social security contributions made by you or your employer. Working remotely in France “is not very easy or often viable,” she claims.

According to HMRC, you needed to have spent 183 days or more in the UK during the tax year to qualify as a UK tax resident. Check out HMRC’s statutory residence test if you’re unsure of what taxes you should be paying or whether you need to inform HM Revenue & Customs.

How Much do Digital Nomads Earn?

According to a FlexJobs survey, data from the CDC International Shipping and Project Untethered, digital nomads often earn between $50,000 and $99,999 per year. According to these data on digital nomad salaries, the majority of remote employees earn between $10 and $30 an hour depending on their education, experience, and sector.

However, if you work for a remote company, your income may be constrained since 49% of digital nomads make the same amount as they did at their previous office job. However, there is no cap on how much you can make if you run your own business. Your income increases as your business expands.

Why is Portugal Good for Digital Nomads?

Portugal has long been known for its advantages, and during the past few years, it has repeatedly been on wishlists of digital nomads. Many retirees, families, and young professionals have moved to this Mediterranean treasure, and foreign visitors have been coming here for years.

Portugal has much to offer everyone, including retirees, investors, and business owners, from the breathtaking scenery of the Algarve to the energetic, multicultural metropolis of Lisbon. The country has been a top destination for digital nomads in Portugal because of the friendly population, pleasant environment, and laid-back way of life.

In addition, starting on October 30, 2022, Portugal will permit digital nomads to establish businesses there. Remote employees who earn at least $2,750 (€2,836) per month, or four times the Portuguese minimum wage, are eligible to apply. Remote employees can easily live and work in Portugal for up to one year with the help of the Digital Nomad Visa, a particular visa for remote workers, or they can apply for residency to stay for a longer amount of time.

Here are some tips for digital nomads in Portugal:

• Portugal has an excellent healthcare system, and the faculty also extends to digital nomads. If you have qualified for all the residency formalities, you will be able to access the healthcare system in Portugal. You can also opt for private health insurance if you so wish. You’ll find private health insurance in Portugal to be quite affordable.
• If you are thinking about a longer-term plan, it is relatively straightforward to buy property in Portugal. Given the popularity of Portugal, you can even get some very attractive returns on investments.
• Try to shop locally and avoid buying imported products to save money.
• To save money, don’t frequent the fanciest, most expensive bar every weekend. There are plenty of trendy bars that will not break the bank.
• Country markets and stalls offer fresh produce, where you are helping local businesses and will often find cheaper products and establish relationships with the seller.
• It can be a good idea to set up a Portuguese bank account if you are planning on living in Portugal for a while, and you will save money on currency exchange rates.

How Much Money do you Need to be a Digital Nomad?

Where you live will determine how much money you require. However, you can start off very cheaply if you live in a country with lower living expenses, such as Thailand, Vietnam, Malaysia, etc. In many situations, $500 per month might actually be sufficient.

Take Thailand as an illustration. You may live comfortably for a very reasonable price if you move to Chiang Mai, which is currently a growing hub for digital nomads and is even dubbed the digital nomad capital of the world. Accommodations start at $200 per month, and meals cost about $1 everywhere.

In addition, there are plenty of things to do, places to hang out with digital nomads, and wonderful things to see and explore.

First off, $500 each month equates to $6000 per year. For comparison, the federal minimum wage of $7.25 equates to a full-time annual compensation of nearly $15,000, whereas the median US earnings is over $26,000 per person. Additionally, in 2012, the US poverty line for a single person was around $12,000.

In other words, you only need to earn half the US poverty line or four times less than the US median pay to live as a digital nomad on a tropical island in Thailand or in a city like Chiang Mai. That doesn’t seem so horrible now, does it?

It can be difficult to imagine that living on a tropical island and working from a laptop while overlooking the water can be done for a price that would be considered extremely low in many western nations. Let’s take a closer look at it.

After taxes, a monthly income of $500 equates to a daily average income of $17. If you’re doing a minimum wage job, that comes out to around two hours and twenty minutes every day. On the other hand, earning $17 daily equates to making around $2.13 per hour of work if you work 8-hour days. Once more, this sounds manageable, right?

Even if your goal is to make $1,000 per month, that works out to about $24 per day or $4.25 per hour over the course of an 8-hour workweek. Again, $12,000 per year or $1,000 per month is roughly the poverty line in the US. If you want to be able to go to more pricey locations, where monthly living expenses can reach $2,000, it works out to $24,000 annually, which is still less than the median annual pay in the US, which is around $26,000.

What are the Disadvantages of Being a Nomad?

In general, every choice we make in life has a price. Everyone would be living the nomadic lifestyle if it were merely advantageous. Our list of disadvantages to a nomadic existence, which may help to explain why nomads are a minority, is as follows:

Being Alone

A nomadic existence typically requires you to make a lot of leaps alone because it’s unlikely that you’ll be able to locate a permanent companion who travels with you everywhere. Some people experience loneliness, a strong and uncomfortable emotion that no one likes, quite quickly when they are alone.

For those who are settled down, avoiding loneliness is simple thanks to secure relationships, connecting with family, or expanding our social network. It is more difficult for nomads, but don’t worry—there are still some fantastic ways to build a social life while on the go. However, even if your social skills are lacking, you should recognize that being alone is an inevitable part of life as a nomad.

Constant ups and downs

You’ll encounter both pleasant and unpleasant surprises every day because the nomadic lifestyle doesn’t provide the assured stability that a conventional living delivers. The fact that everything is new and you lack knowledge adds to this emotional roller coaster. It might be problematic to take life too seriously; a nomad must learn how to handle the ups and downs because they are almost always inevitable.

Lack of private space.

The majority of individuals feel the urge to be able to declare, “This is home”—a place to feel safe and comfortable, keep all of your belongings, create, and design. Since you are constantly moving, you don’t always have a personal base of operations. Even if you periodically find something more solid for a few months, you will always know that it isn’t home because you will soon be moving on.

Excitement levels.

Overseas travel can make you less receptive to novelty. A week of vacation in India is eye-opening after a year of being trapped in the stress of work. However, your enthusiasm levels aren’t as high when you’re continually traveling about (especially if you’re focused in one area, like Europe). Yet another lava field, yet another snow-capped mountain. When the wow factor is diminished, even the most breathtaking spectacular might come off as monotonous and uninteresting.

Money.

There is a misperception that a location-free existence truly offers greater riches than being a corporate slave working a 9 to 5 job (steamy novels like the 4 hours workweek contributed to it). Generally speaking, based on my experience, you would be far better off monetarily staying put.

Read Also: Top 10 US Cities to Enjoy Working From Home

Generally speaking, the two pillars of revenue and expense support your financial situation. Regarding costs, it is true that staying in low-cost nations can help you save money, but owing to information gaps, you will probably spend more than a local. The difficulty lies in really making money while moving around.

Even in today’s interconnected, globalized world, it’s difficult to establish a genuine rapport with clients when you can’t physically meet with them; it’s also difficult to commit fully to and stay focused on an income stream when you’re continuously changing locations; time is lost. Realize that the nomadic lifestyle has expenses rather than clutching onto the hope that it will better your financial situation. However, nomads prioritize their pleasure over anything else.

Losing everything, again and again.

It is comparable to birth, death, and rebirth. While we’re on this philosophical tangent, why are we so frightened of dying? We may be afraid of losing what we’ve fought so hard to achieve, which could explain this. The nomadic lifestyle is comparable; each time you relocate, you lose your house, preferred “known” locations, and social networks, all of which must be rebuilt.

Reaction of your non-nomadic environment.

When you expose your nomadic identity, you will likely get one of two responses. Envy comes first, followed by all the inquiries intended to refute your model (you have to be wrong, or they are wrong). People’s second response is that they believe you’ve completely lost it.

When someone says, “You have a beautiful life,” some nomads truly thrive. However, if you become hooked to envy, you will eventually need to hide or lie about the drawbacks in order to maintain the ideal. Even worse, you run the risk of deceiving yourself about your level of happiness.