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Chapters

00:00 The 'New' American Dream
01:24 Part 1: Why Young People Are Leaving Rich Countries
01:51 The Developed World Is No Longer Affordable
03:11 The Developed World Is Too Stressful
05:58 It’s Never Been Easier To Live Abroad
06:49 Part 2: The Reality of The ‘New American Dream’
07:20 The Euphoric, Cultural Experience Where Money Is No Object
08:47 The Lonely, Isolated Lifestyle of Never Fitting In
10:41 Part 3: The Consequences to the Host Country
11:11 Gentrification
11:54 Cultural Intolerance


In the past decade we have seen this trend of people moving from rich, developed countries to cheaper, developing countries. In this video, I talk about why we are seeing this trend, the reality, and the consequences.


Part 1: Why Young People Are Leaving Rich Countries

Despite this trend of people leaving rich countries, there are logical reasons for this. Here are three.

The Developed World Is No Longer Affordable

In the developed world, we are in a cost of living crisis where everything is becoming increasingly unaffordable. The price of rent, groceries, and cars are becoming out of reach for the average person. Many people are seeing that their salaries will go much further in other countries and are choosing to move to seek a better quality of life.

The Developed World Is Too Stressful

In addition, the developed world is also extremely stressful where people are working harder than ever, are busier than ever, and life feels like a grind. People from rich countries are looking at the lifestyle in cheaper, developing countries where life is slower, more simple, and laid back, and finding that appealing.

It’s Never Been Easier To Live Abroad

Finally, people are leaving their rich countries to become digital nomads because it has never been easier to love abroad. The price of plane tickets has never been lower, more jobs are becoming remote, and many countries are offering digital nomad visas. If you want to move abroad and pursue this ‘New American Dream,’ all you have to do is sell you stuff and buy a plane ticket.


Part 2: The Reality of The ‘New American Dream’

After seeing the reasons people are moving abroad, it begs the question, “Is this American Dream worth pursuing? As someone who has traveled all around the world and lived abroad, I know the reality of this lifestyle and there are two sides to it.

The Euphoric, Cultural Experience Where Money Is No Object

As I mentioned before, there are many benefits to seeking this ‘New American Dream,’ one being the financial benefits where money is no object. When you no longer have to worry about money, it gives you a sense of peace in your life. Also, another benefit is this cultural experience you get where every day is new and exciting and you are learning things about different cultures.

The Lonely, Isolated Lifestyle of Never Fitting In

Although there are many benefits to this lifestyle, ultimately, many people learn that it does come with its own set of challenges. This lifestyle is very lonely where you don’t know anyone, you struggle fitting in as you are an outsider, and you struggle with cultural differences. Many people who pursue this lifestyle ultimately come to the conclusion that financial benefits aren’t everything and there are many benefits to living in your own country. Eventually deciding to return to their home country.


Part 3: The Consequences to the Host Country

Finally, when it comes to this trend, one thing we often don’t consider is the impact on the host countries. There are two main consequences that come with so many people moving to cheaper, developing countries.

Gentrification

As I mentioned, a salary in the United States goes a lot further than in other countries to the point where you’re considered rich and money is no object. This can cause areas of the host country to become gentrified to the point where local people can no longer afford to live in them.

Cultural Intolerance

As I mentioned, moving abroad comes with its own set of challenges. Sometimes dealing with cultural differences can cause anger and sometimes we can feel entitled that since we have more money and are bringing economic means to the country it should change for us.


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