How to Travel the World Without Going Broke

Unsurprisingly, global tourism suffered its worst year on record in 2020, as international arrivals declined by a whopping 74% in the wake of the coronavirus and associated lockdowns.

Overall, destinations worldwide welcomed one billion fewer international arrivals than during the previous 12 months, as many placed their travel goals on hold until the climate improved considerably.

However, international borders are now reopening, enabling those who want to travel the world to once again pursue their dreams. But how can you realise such dreams without going broke? Let’s find out!

Why is Travelling Abroad Such a Financial Headache?

Let’s face facts; international travel is always expensive, especially when visiting popular destinations and resorts.

This cost will most likely increase post-Covid too, as airlines and hotels look to offset their 2020 losses and account for any subsequent downturn through this year.

So, although you may be able to save enough money to book an initial flight and some accommodation, those who want to travel indefinitely and visit multiple locations may struggle to do so without running out of cash.

With this in mind, it’s important to consider your earnings options while travelling, with a view to making the most of your trip and achieving all of your goals!

How to Make Money While Travelling

The question that remains is what are the best ways of earning money while travelling? Here are some ideas to keep in mind:

  • #1. Get a Job Overseas: While this may be the most obvious option, it’s arguably the least ideal from a time perspective. After all, a physical job will eat into your time, compromising your trip and recreational itinerary in the process. Teaching offers one of the more viable and flexible opportunities, as does bar work in a local outlet at your destination. The latter can also be done without any qualifications in most instances, making it a more accessible option that can be done spontaneously or as and when required.
  • #2. Start Freelancing: This is a far more viable option in most cases, so long as you have a skill that’s both marketable and in-demand within the digital gig economy. From web design and the provision of SEO services to copywriting, there are myriad freelance jobs that you can do from anywhere in the world in 2021. The key is to network and identify potential opportunities before you travel, while scheduling time to complete tasks in between trips and excursions.
  • #3. Trade Forex: If you’re looking to create a truly passive source of income and have some knowledge of the forex market, we also recommend forex trading. Make no mistake; you can use forex trading to capitalise on the foreign exchange market and its various daily price fluctuations. Fortunately, currencies are traded as derivative and highly leveraged assets, which means you can automate speculative trades while committing a relatively small cash deposit.

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