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by closewith
302 days ago
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The benefit is similar to remittances - you get a huge influx of hard currency as digital nomads freely spend their high salaries. That does create jobs and raises tax revenue through consumption taxes and downstream employment. It's very similar to tourism - digital nomads are effectively semi-permanent tourists. However, like tourism, it causes inflation, prices out locals, and can detract from more sustainable, natural economic growth (the so-called tourism curse). So like tourism, developed economies inevitably place limits on digital nomads. That can take the form of stricter visas, capped numbers, or by implementing tax reforms. |
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