Countries are now encouraging remote workers to live within their borders
Trend - While many entrepreneurs and freelancers have chosen to adopt a travel-centric lifestyle, the pandemic has enabled this lifestyle to be a possibility for many employees working from home. Governments in warmer climates are capitalizing on the opportunity with new working visas specifically designed for remote workers looking to leave the city. This will support local economies without taking away employment opportunities from permanent residents.
Insight - While technology has long enabled society to work remotely, the pandemic has been the unexpected push that forced many companies to allow employees to work from home on a long-term basis. This opportunity has changed the way consumers view their day-to-lives and current living situation and, for the first time, many are able to picture themselves living a different lifestyle, away from suburbia and the city. This demographic no longer sees themselves tied to a city and is looking to capitalize on the emerging work-from-home culture to experience new opportunities.
Insight - While technology has long enabled society to work remotely, the pandemic has been the unexpected push that forced many companies to allow employees to work from home on a long-term basis. This opportunity has changed the way consumers view their day-to-lives and current living situation and, for the first time, many are able to picture themselves living a different lifestyle, away from suburbia and the city. This demographic no longer sees themselves tied to a city and is looking to capitalize on the emerging work-from-home culture to experience new opportunities.
Workshop Question - How can your brand leverage the unexpected lifestyle changes of consumers in its products or services?
Trend Themes
1. Remote Work Culture - The pandemic has allowed remote work to become a long-term possibility for workers, inspiring governments in warmer climates to create visas for remote workers to reside in their countries - a trend known as 'Digital Nomad'.
2. Digital Nomad Visas - Countries are creating visas under different branding, such as the 'Barbados Welcome Stamp', 'Digital Nomad Visa' in Estonia and 'One-Year Residency Certificate' in Bermuda to attract these remote workers and support local economies.
3. Location-independent Economy - This trend has pushed professionals to reconsider their lives and location, enabling a location-independent economy and creating new opportunities for businesses to serve these remote workers with different lifestyle requirements.
Industry Implications
1. Hospitality - The digital nomad trend presents an opportunity for the hospitality industry to cater to remote workers by providing co-living spaces with reliable internet services and workplace amenities.
2. Insurance - As countries require health insurance for visitors taking advantage of the remote work visas, insurers can create tailored policies for digital nomads and their unique lifestyle requirements.
3. Real Estate - The digital nomad lifestyle is a growing market for real estate businesses, with remote workers seeking properties that offer increased flexibility and mobility, such as vacation homes or houseboats.
