JOBS The Great Reevaluation: How Economic Headwinds and Cost of Living is Turning Americans into 'Recession-Nomads'


Thursday, 19 January 2023 10:23.AM

- Research by global health and insurance provider SafetyWing reveals more Americans are considering a leap to a nomadic lifestyle than ever before -

The pandemic introduced much of the population to remote working, and economic instability in the U.S. is causing workers to demand it. A survey commissioned by SafetyWing, providers of global health and insurance benefits designed for remote and nomadic workforces, revealed emerging trends and shifting attitudes towards the future of remote work among Americans.

The Great Reevaluation: Almost three-quarters of digital nomad respondents (74.5%) stated that their decision to go remote was influenced directly by the pandemic. More recently, increases in the cost of living have made 78.3% of Americans either consider or commit to working remotely.

• 90% and 86.8% expressed interest in becoming a remote worker and a digital nomad respectively

The Rise of the Remote Family: The digital nomad lifestyle is being adopted by professionals of all ages and life stages. Over half of the digital nomads surveyed (58.8%) are either married or in a partnership and nearly half (48.3%) have children under the age of 18.

• 70.4% have worked and traveled with their children and plan on doing this more in the future

The Happiness ROI: An overwhelming 93% and 90% of remote worker respondents reported increased levels of satisfaction and productivity respectfully.

• 61% reported decreased levels of stress
• Nearly half of respondents (44%) cited better quality of mental health
• Almost a third of respondents (30%) claimed that being in a better financial situation

To better support the growing number of remote workers, SafetyWing is launching a platform called Borderless to provide the most up-to-date information for the global workforce, including advice on making the shift to remote work, setting up nomadic visas and taxes, border and travel restrictions, and covid and vaccination status per country. Every week, a new destination will be launched on the site.

Sondre Rasch, co-founder and CEO of SafetyWing, commented: "Remote work is the biggest paradigm shift of our generation. The pandemic accelerated the trend, and now the cost of living crisis is driving even more people to explore the benefits of more flexibility and autonomy.

"Employers must adapt and offer better, more accessible remote working options for their teams, or they will fall behind. If people of working age are given all the tools and infrastructure they need to make the switch to remote or nomadic work, they will feel happier, financially freer, and able to do the best job they can."

SafetyWing's products are designed to remove geographical borders as a barrier to equal opportunities and provide a global social safety net for remote workers. Nomad Insurance was the first travel and medical insurance specifically tailored to the needs of the nomad. Remote Health is a fully-fledged health insurance for remote teams, and SafetyWing is currently developing Remote Health for nomads, Remote Retirement, Remote Doctor and Remote Therapy.

To learn more about remote working, hear first-hand accounts, and get advice and tips on how you too can adopt a more nomadic work-life, visit https://borderless.safety....

SOURCEЖ SafetyWing

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