The digital nomad boom has lead to a lot of people learning about different parts of the world as they consider relocation. I’ve been thinking about relocating for a while, and I’m weighing my options. As far as I’m concerned, Latin America and Asia are the two normal regions of the world. Southeast Asia isn’t the cheapest part of Asia to live in, but it is the warmest. Recently I’ve been leaning away from Latin America as a place to live, and towards Southeast Asia.
Southeast Asia Has More Economic Opportunity
Latin America and the Caribbean are doing ok…ish. There are many more ways to make money than in the past, but the growth simply isn’t there. A lot of the people making big money are incumbents, and a lot of people aren’t making as much money as one might think. A lot of people leave these countries to make money overseas. They’re too hampered at home. Ease of doing business is low, and there isn’t a lot of growth in manufacturing and tech. Most Asian countries are also quite difficult to do business in, but Singapore exists. Additionally, the gains are oftentimes simply too big for it to even matter. Most countries in Asia are super competitive. Schooling is rigorous and wages are low. I know this sounds like a generalization, but check out the wages in Japan and Korea. You would be shocked. This all means that people work their asses off and innovate incrementally, across the region. While we make AI take our coffee orders at the McDonald’s drive thru, the Chinese are building electric cars. If you want to make $400k/year selling hot tubs this isn’t your scene, but there’s a lot going on in Asia. It’s a great place for young, entrepreneurial spirits who want to be a part of cool things.
Southeast Asia Is Safer
Latin America is dangerous. Anyone who says otherwise is well off, black (in a white Latino country), or delusional. This is true whether it’s St. Vincent, Brazil, Mexico, Peru, or Jamaica. You need to watch where you’re going in Latin America. I’ve heard anecdotes of people in Thailand being able to leave their keys in their motorcycles for hours on end. This isn’t happening in my corner of the world. I’ve experienced a good amount of violence in my life. I value safety more than I value most forms of freedom. Maybe I’ll change my mind when I’m old, but Southeast Asia is the place for me.
It’s Cheaper To Raise A Family In Southeast Asia
I live in a country that’s better off than most of the countries in South East Asia. But it’s an English speaking island country. This means that imported goods are highly taxed and electricity is damn near monopolized. In addition, I will need to pay premium rent prices in order to stay safe. I don’t plan on being poor in Southeast Asia, but the bottom 90–95% of people under 30 in my country would likely see a great benefit in bringing their salaries to that region. Even when I do end up becoming wealthy, the idea that my kids won’t end up hanging out with armed killers if they or I mess up gives me peace of mind. This is something that needs to be monitored, however. Thailand’s prison industrial complex is growing fast…
Overall, Southeast Asia seems like the new America. Sure, some of the countries have restrictive immigration policies. But the ones that don’t are the countries of interest. Cambodia, the Philippines, Malaysia, and even Thailand still are booming economies that seem to have no problem taking in talented or wealthy foreigners. I think it’s the place to be if you’re a digital nomad.
By Rising Current on .
Exported from Medium on November 8, 2024.
