Have you heard of geo-arbitrage? What do you think of this idea? Have you thought of working for a Polish company/university living, for example, somewhere in Asia?
Do we live in so much globalised world?
Read /watch the presentation and comment on it please.
Read also the comments presented in the forum discussion
1. What do you think about this location-free lifestyle?
ReplyDeleteIt always depends on if you're a "rentier" or "wfh" person (better known as working from home). In the first case, it really would be nice - Republic of Indonesia sounds like home - look at their national flag! Imagine this paradise: staying on the beach all day long, no winters and only cold drinks.. but, if you are a social kind of person taking there his job - beware! Remote work is one of the worst things. At the beginning seems to be a heaven, but after a time the efficiency drops to zero - you wake up and take the same shirt to look good from the waist up on VC :).
2. Is it attractive to you? Would you try to live for some time like people above?
Sounds great, but only if I become a rentier (see above why).
3. Do you think that location-free lifestyle would be available for you even if you have family, kids?
Of course not - I know many people living out of a suitcase. It's hard to find a space for others when you are in a constant motion. Family takes time, caring - unless you believe in a supernanny.
4. What advantages and disadvantages of it can you see?
Definitely you are more open and less attached to one place. You get to know interesting people - but the price is the family and loved ones.
1. Have you heard of geo-arbitrage?
ReplyDeleteYes, I heard about, as someone said:
"Geo-arbitrage is the sneaky hack of spending money from a rich country in a poor country."
2. What do you think of this idea?
Go to a poor country and live like the king? For what do it?
Beautiful idea ... I had to go to very poor country in the end of the world
to an Arab, Negro or Vietnamese could stabbed me for a few dollars? No, thank you.
3. Have you thought of working for a Polish company/university living, for example, somewhere in Asia?
I did not want to working for a European company/university and living somewhere outside Europe.
4. Do we live in so much globalised world?
Yes, we live in so much globalised world. I think that because
people have a lot of possibilities to communicate with every human
on the earth and travel to every part of the earth.
I have heard about the phenomenon, but I was not familiar with the term "geo-arbitrage". My first impression was very similar to the provious comments. It is definitely not a lifestyle for everyone. You can save some money, but what about your security (you are a "very rich" stranger in the land, where all your neighbours are extremely poor and nobody cares about you) or medical care. Moreover, to me living in different places only for a month (mentioned in the article) is a great way to see many different places, but not get to know them at all. It may seem attractive at a first glance (or for a short period), but when you think about it a little bit longer - it also seems to be a very empty life "without purpose" (no work to do, no friends, no family or home).
ReplyDeleteI highly doubt this would make much economic sense for us. In fact people are doing just the opposite, moving to more developed EU countries. We already are a cheap work force country (which factors into the cost of living) so in our case the geo-arbitrage would work the other way around. Sure, you can always go down the ladder, but at some point the benefits don't make up for the loss of entitlements which we enjoy here. If you want to travel the world and work for a first world salary in a third world country – why don't you join the army :)
ReplyDeleteIn any case, there are many jobs where you are stationed in a foreign country at an outpost somewhere to do business for your company. I don't think most people look at those opportunities and think “I'm going to live like a king”, because your actual standard of living would probably go down considerably, but who knows (unless you're Kim Dotcom)?
On the other hand, I think the free movement of people within a single market and comparable economies such as in the EU is a good thing. It balances growth and capital flows creating more opportunities for everyone. But just as the other comments I'm also skeptical about taking the whole idea too far and trying to exploit huge differences in standards of living.
The term geo-arbitrage was new to me but the idea itself is quite popular nowadays (at least in my surrounding). A few of my friends from university work for big American IT companies as WFH (Working From Home) developers. They can earn 'big bucks' while spending their time in a place where the costs of living (houses, groceries, services, etc.) are just ridiculously small (comparing to the prices people living in Warsaw may pay for the same things).
ReplyDeleteI know that such a lifestyle could be a great thing for some, but I am not one of those people. Not all things can be bought with cash and the things that I find most precious (family, friends) need my time and presence (every once in a while).
Moreover, looking at the list of '130 countries where you can live for under 500 US Dollars per month' - they don't look safe to me - Columbia, Brazil, Iran? Sorry, but I'll pass...
Please google up 'top 10 most dangerous places to travel to' and you'll see why living in these countries is cheap.
On the side note: have you seen the movie Eurotrip? The scene where the main characters end up in Bratislava comes to my mind (sorry I didn't find a better quality video):
http://www.youtube.com/watch?v=B5NuuJQT8ZM
"A nickle! I open my own hotel!" - a bit exaggerated, but I hope you get the point :)
In my opinion it depends on your expectation, were do you want to live and of how many things we are ready to give up eg. limited contacts with family or friends. Mostly I agree with others I would not want to live were it’s dengerous becouse costs of living there is cheap.
ReplyDeleteThis comment has been removed by the author.
ReplyDeleteHave you heard of geo-arbitrage?
ReplyDeleteNo.
What do you think of this idea?
I think that this is quite good idea, but it always depends on expectations. Traveling to foreign countries with weaker economics can result not only in weaker currency but also worse medical care, higher crime levels and number of other factors. So when considering such an idea one have to think about in terms of more than a prospect of working holidays.
Have you thought of working for a Polish company/university living, for example, somewhere in Asia?
Of course it would depend on the actual conditions of the proposal, but actually if I had an opportunity I would love to do something like that.
Do we live in so much globalised world?
hmm yes :)
... higher crime levels - true.
DeleteRisk your life or health only to save some money - not wise idea.
Very interesting post. Essentially I think geo-arbitage is pretty good.
ReplyDeleteA traveler's perspective can really change your view of the world and your own happiness. I think even if you're 'temporarily' or 'partially' location independent (for whatever reason, financial, family, etc.) you should travel in search of a place that inspires you, because then it makes you want the dream even more.
I decided I will be retiring to another country. Hopefully within the next few months.
The effects of geo-arbitrage are a little complicated, but overall the short term effect should be positive and the long term effect should be neutral. The short term effect is positive because you are bringing more money into the economy. The long term effect is neutral because hundreds of counterbalances pop up, such as raised prices from increased spending, etc.
However, this is a case where specifics vary a lot-for example, if you start new productive businesses within the country, that increases quality of life for the people around you.
Similarly to some of my colleagues I heard about idea of geo-arbitrage, but this name is new for me.
ReplyDeleteWhen I was reading comments of my predecessors I was very surprised by very positive opinions (I had felt the same during reading articles). So now I’m trying to define causes of my resistance to this idea.
1. Travelling to other cheaper countries seems to be an attractive option for people living most of their time in the same place. But when we move to another country w still will live in one place, so we won’t travel as now.
2. I can’t imagine situation when we have to find new (good paid – of course) job and we are living far from “business centers”.
3. Last century I worked in Germany, my wife worked in Poland – it wasn’t a good situation for family life (friends we can find everywhere).
4. I see in my job (I am computer programmer) a tendency to agile development where programming team has to discuss for resolving problems, directly cooperate with client (how to sign agreement with polish client remotely ?) – this ideas are opposite to geo-arbitrage. I don’t exclude teleconferences – in my last summer project we had a lot of teleconferences but the main decisions was made during “traditional” meetings.
That’s all. I think, that idea of geo-arbitrage is quite good but simply not for all.
I am not convinced that the money relation is the most important. The cost of living might be lower in the country you live in but there is a high chance you spend quite a lot traveling back to your origins. It might be to meet your family, friends or do business – not everything can be done virtually.
ReplyDeleteYou must be keen on traveling to put yourself into the geoarbitrage way of life.
As a few months adventure – fine, but as the idea for rest of your life – not likely.
Friends? You can earn only shallow relationships with people unless you would have them all the time with you. Building strong relationships needs time (years).
Family? Your kinds attending the school in Vietnam? Is it really the level of education you want equip them with?
Have you heard of geoarbitrage?
I’ve heard about the idea “do travel and work via net” but the from the vocabulary perspective geoarbitrage is the new term to me.
What do you think of this idea?
I’ve mentioned some thoughts above.
Have you thought of working for a Polish company/university living, for example, somewhere in Asia?
No. I think I would prefer to move to a cheaper region of my country (Baltic Sea or Polish mountains) and do remote working form there instead of traveling long way abroad.
Do we live in so much globalised world?
I think we do. If all cons regarding geoarbitrage are acceptable for you then nothing can stop you from becoming a digital nomad.
btw.
Digital Nomad – apart from whole my geoarbitrage dislike I like this term to describe a human being in permanent travel while in permanent net availability.
1. Have you heard of geo-arbitrage?
ReplyDeleteNo I didn't
2. What do you think of this idea?
In my opinion it is good idea now a days if we have Internet we can work where we want we have skyp or email so we can communicate with our boss.What is more we like was said we can work in the country where cost of live are cheaper then in country where company is located.
3. Have you thought of working for a Polish company/university living, for example, somewhere in Asia?
I never think about that but if i will get that opportunity I probably i will considered that.
4. Do we live in so much globalism world?
Yes no a days if you have Internet you are connected almost with everyone.
1) Have you heard of geo-arbitrage?
ReplyDeleteI was more familiar with the term "workforce mobility", but I believe that is a myth. People don't really like changing their environments and have a deep sociological root within their cultures. Especially at the peak of their professional life, when they've just started to have families and children who need stability and predictability for their development.
2) What do you think of this idea? Have you thought of working for a Polish company/university living, for example, somewhere in Asia?
Depends what would the sallary be. At my company I already see a reversed situation: people in Asia working for the Polish and global offices. My friend has a dream job: he manages a hotel in Myanmar, an island near Birma. And even though at first it seems like paradise, every day he struggles with cultural differences. Managing native staff is difficult without being seen as "one of their own". He also mentions being away from his friends and family as the biggest drawback of that situation.
Do we live in so much globalised world?
Not really.
Have you heard of geo-arbitrage?
ReplyDeleteNo. Is the first time I heard about that.
What do you think of this idea?
I think is bad to be focused only on saving many. If I were a person who wants to leave Poland I would rather migrate to some rich and well-developed country where life is expensive.
Have you thought of working for a Polish company/university living, for example, somewhere in Asia?
Maybe in Japan, Singapore or other rich Asian country certainly not in China or India.
4. Do we live in so much globalised world?
Yes