rewrite this title Is the Future of Work Borderless?

Last week, I posted a picture from 2014, soon after I returned to the U.S. after spending six months in Nicaragua.

Thank you for the feedback on the beard!

Here’s another one with the dormant Maderas volcano in the background.

I know I might look a little lost at sea here, but just the opposite is true.

You see, I went on that trip right after I walked away from Wall Street.

After almost two decades of trading, I was burned out.  I wanted to reconnect with myself and nature after spending too much time in a concrete jungle.

Why the beard?

I guess I didn’t feel the need to look clean cut for anyone. After all, I was living a nomadic life abroad.

And if “younger me” was in this same situation today, I might have been gone much longer than six months.

That’s because it’s a lot easier to become a digital nomad these days.

As long as you have a working internet and a career that allows it, it’s possible to make a living working online from anywhere, all over the world.

Of course, being a digital nomad isn’t appealing to everyone.

It certainly isn’t practical for someone like me now, with two small kids and a wife who would prefer to stay in one place.

But even if the nomadic life isn’t in the cards for you, there are still multiple opportunities for you to profit from the digital nomad movement.

The Rise of Digital Nomads

In the early 2000s, the book The Sovereign Individual fascinated readers with the idea that you might someday be able to choose where you work through the wonders of technology.

Yet, it seemed like fantasy at the time.

Even a half-decade ago, digital nomadism was considered somewhat of a fringe movement. It was mostly reserved for Instagram influencers and the occasional freelance developer.

But that’s no longer the case.

As of 2024, an estimated 40 million people around the world consider themselves digital nomads.

Over 17 million of them are Americans.

This number has more than doubled since before the COVID-19 pandemic of 2020.

Today, many digital nomads are highly skilled professionals in tech, design, marketing and other mostly white-collar positions.

They earn, on average, nearly $123,000 a year. And the majority of them are Millennials in their 30s and 40s.

In other words, digital nomads are high-earning remote workers with disposable income.

And they’re changing the economics of every city they touch.

In fact, cities across the globe are no longer just competing for tourists or corporations. Many are also competing for remote workers.

And they’re doing it by becoming “smarter” cities…

Places with fast internet, low taxes and flexible visa options.

Many of these smart cities cater to remote workers with coworking spaces, secure international banking apps, portable health insurance and even crypto payment platforms.

For example, in a city like Chiang Mai, Thailand, you might see a coffee shop, a blockchain ATM and a pitch deck workshop all on the same block.

That’s because the infrastructure for remote work isn’t just digital anymore. It has physical, cultural and financial components

Lisbon has been ahead of the curve for years, with a well-established expat and startup scene.

Known for its world-class beaches, Canggu, in Bali, has exploded with coworking spaces and eco-conscious cafés.

Source: Wikimedia Commons

And Warsaw, Poland, is attracting tech workers that have been priced out of Berlin or Amsterdam.

Even Genoa, a port city that was once the leading commercial marketplace in Italy, is building its future on fast internet, affordable living and the country’s 12-month digital nomad visa.

Source: Wikimedia Commons

And in Latin America, places like Mexico City and Medellín, Columbia are becoming unlikely remote work hubs.

Some cities are going even further by incorporating bleeding-edge tech into their infrastructure.

In places like Dubai and Singapore, governments are experimenting with AI-driven urban planning.

Estonia is leading the charge on digital citizenship. It’s known for its innovative e-governance solutions, like digital identity, e-residency and secure digital signatures.

And in Roatan, Honduras, a special zone called Próspera even started issuing its own governance tokens to allow residents to vote on local policies through the blockchain.

Again, this is all happening right now. And the financial implications are massive.

How to Capitalize on the Digital Nomad Trend

If you want to capitalize on the digital nomad trend without moving overseas, the most obvious play is real estate.

Property prices in digital nomad hotspots have been climbing steadily, especially in secondary cities that offer high quality of life without the price tag of a major capital.

In the U.S., you could look at cities like Orlando or Las Vegas. Places that already have a tourist infrastructure in place.

But you’ll probably find better deals overseas…

Which isn’t to say it’s always easy to invest in overseas real estate.

There are often many bureaucratic hoops to jump through. Plus, you have to deal with being a landlord from what could be many thousands of miles away.

But investors who buy early in emerging hubs like Zadar in Croatia or Salta in Argentina might be positioning themselves ahead of the next wave of digital nomads.

For investors who want to invest more passively, an option to consider is municipal bonds.

Especially for cities that are investing in smart infrastructure.

For example, local governments that are issuing bonds to fund fiber-optic networks, sustainable transit or digital ID systems.

This might not sound exciting, but these things are foundational for the future of cities. And municipal bonds can offer stable yields backed by the growth of these urban hubs.

But I believe the simplest and most effective way to invest in the digital nomad movement is through existing cryptocurrencies like bitcoin and Ethereum, both of which have taken off in the last week.

This week, the state of New Hampshire became the first in the nation to authorize the creation of a Strategic Bitcoin Reserve. But other states are set to follow.

I predict we’ll see nations, including the U.S., soon adopt their own bitcoin reserves.

Institutional money is also pouring into crypto as it becomes a legitimate global asset.

Year-to-date, bitcoin ETFs have already accumulated more than $5.7 billion in net inflows.

As I’ve said before, the idea of bitcoin is that it’s a decentralized currency. It’s not under the control of any country’s central bank.

And that dovetails nicely with the idea of digital nomadism, where you’re not beholden to any country.

You’re free to travel — and spend your money — anywhere.

Here’s My Take

The traditional lines between living, working and traveling are blurring.

The cities that embrace this shift now, especially those with crypto-friendly policies and an infrastructure built for mobile talent, could see long-term gains far beyond tourism.

Of course, not every city will get it right.

Some will overbuild. Some will attract too many tourists and lose the charm that made them appealing in the first place.

In fact, anti-tourism protests have already hit popular cities like Barcelona and Venice as residents find themselves being priced out of their homes and are tired of dealing with unruly visitors.

But cities that find the right balance of freedom, function and community could become the major hubs of tomorrow.

And while not everyone will become a nomad, the opportunities created by those that do could redefine the global economy.

Regards,

Ian KingChief Strategist, Banyan Hill Publishing

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