Across the globe, increasing numbers of people are embracing the lifestyle of a digital nomad. These people earn a living working online in a variety of locations of their choosing (instead of a fixed business location).
While the lifestyle of digital nomads is appealing for a number of reasons, a new study by European neobank bunq reveals that it comes with a range of trade-offs and sacrifices. In fact, around 31 per cent of digital nomads have missed key life events including weddings or funerals.
In a survey of nearly 5,000 digital nomads, around one in three (31 per cent) British digital nomads admitted they have also faced mental health challenges while adjusting to life abroad, often feeling homesick as they adjust to life away from familiar comforts.
Another aspect impacting mental well-being is the need for self-censorship. Thirty-one per cent of British digital nomads also report feeling the need to hide aspects of their identity, such as political views, religious beliefs, or sexuality, due to cultural differences in their host countries. However, 17 per cent also report that exposure to diverse cultures has strengthened their values and self-awareness.
Despite these challenges, for many, the rewards outweigh the sacrifice. In fact, 28 per cent report saving more and 22 per cent feel more financially secure since embracing an international lifestyle. While living an international lifestyle unsurprisingly saw 20 per cent say their relationships with friends at home had suffered, the same proportion (20 per cent) report that they have built stronger relationships while travelling, demonstrating the potential for meaningful bonds beyond borders.
Bianca Zwart, chief strategy officer at bunq, reacted to the findings: “At bunq, we’ve seen firsthand the changes in the way people approach work, travel, and life. It’s not just about freedom – it’s about the richness of experience. Digital nomads aren’t leaving things behind; they’re building something new.”
Balancing life and work
Financial security is one of the major motivators for pursuing a digital nomad lifestyle. Twenty-eight per cent of British digital nomads report an increase in savings compared to when they lived in the UK, while 24 per cent feel more financially secure due to the flexibility of choosing where to work. Additionally, 19 per cent believe that this lifestyle has positively influenced their career development.
However, 24 per cent said their career had suffered due to their international lifestyle, citing missed job opportunities (five per cent) and career stagnation (three per cent) as key concerns.
Only 20 per cent of British digital nomads reported that their employers were fully supportive, despite the growing acceptance of remote work post-pandemic. To navigate these challenges, 10 per cent of UK digital nomads have either hidden their lifestyle from their employers or avoided disclosing it during job applications.
When asked about what they miss most from home, British digital nomads overwhelmingly cited friends and family (27 per cent) as their greatest longing. However, closely following in second place was British cuisine (14 per cent). British wit (12 per cent) ranked as a unique cultural loss, with British digital nomads reporting a stronger longing for humour than any other European nationality surveyed. Even the often-criticised British weather (nine per cent) made the list, alongside a broader sense of British culture (eight per cent) and the familiar sounds of home (seven per cent).
