While the rapid rise of the so-called “Omicron” coronavirus variant may be instigating a return of Covid-19 restrictions across the globe, there remains ample opportunity to travel in the current climate.
In some instances, you may even be able to remain in your destination of choice for an extended period of time, creating the need for you to earn a viable source of income while overseas.
But what are the best methods of earning income while travelling the four corners of the world? Here are some options to keep in mind:
#1. Teach English (In Some Locations)
It may come as no surprise to note that English is the world’s most widely spoken language, despite the fact that most speakers aren’t currently native.
In fact, of the estimated 1.5 billion people who speak the language across the world, less than 400 million use it as a first language.
However, the fact remains that the demand to learn English as a secondary language remains high, creating an opportunity for you to teach this to students in certain parts of the world.
Southeast Asia sees a particularly high demand for part-time English teachers, for example, although in some regions who may be asked to demonstrate rudimentary teaching qualifications and credentials.
#2. Forex and Financial Market Investment
The issue with teaching and similar corporeal roles such as working in a bar is that they place a huge demand on your time, making it hard to create a viable and enjoyable travel itinerary.
However, it’s possible to leverage forex and other iterations of financial market trading to create passive income streams while travelling, so long as you have a viable Internet connection and access to a licensed online trading platform.
Forex trading is particularly ideal, with this derivative marketplace enabling you to speculate on price movements and profit directly from the market’s innate volatility.
This means that you can profit without assuming ownership of the underlying financial instrument, while it’s also possible to utilise leverage as a way of opening and controlling disproportionately large currency positions.
#3. Market Your Skills as a Freelancer
Last, but not least, we close with another non-passive option that will require you to work proactively.
However, freelancers can at least work remotely and create their own viable schedule, enabling them to build an income stream without compromising on their desired travel itinerary.
To freelance successfully, you’ll need to have a set of in-demand skills that you can market, with the gig economy often seeking out copywriters, web designers and SEO practitioners to work on the basis of individual projects.
You’ll also need to network effectively when working as a freelancer, especially if you’re able to build a viable foundation of clients and rely on a steady stream of work that can sustain your travels over time.