Geographical arbitrage is the practice of earning income in a strong currency or high-cost area while spending or operating in a lower cost area, thereby swiftly accumulating wealth or achieving a higher quality of life at a lower cost. For example, Singaporeans earning the strong Singapore Dollar like to go to Johor Bahru, Malaysia for spending. Or Hong Kongers spending in Shenzhen, China. Or the French working in Switzerland and make the daily commute across the border back to France. The list goes on.
But the above examples still restricts one to a geographical location. The full potential of geographical arbitrage is not yet unlocked until one can be fully mobile. And today, we look at what it means.
I am currently on a one-month vacation in Bangkok, Thailand where I also need to resolve certain issues regarding my condominium here. Some of my readers would probably have already known this, but Bangkok is a place with many foreigners staying for varying lengths of time. Some stay as short as a few days (tourists), some for a few months (like nomads moving around) and the others staying longer for more than a year. Everywhere you go, you see people from all over the world. Many of them look like they are not working nor earning money, but in fact they are. All they need is an internet connection, a laptop and a smartphone and they can get to work. I have known this way of living for nearly 15 years, and had wanted this kind of lifestyle. 15 years on, technology has improved and people are more mobile, hence opportunities to live like this has opened up further for many. Today, we look at what we can do to fully unlock the advantages and opportunities of geographical arbitrage.
Language
For readers reading this article in English, you can skip this segment.
The most important skill to have, in my opinion, is fluency in the English language. It does not matter which culture or country you are from, neither does it matter if your country is getting stronger and more powerful by the day. English is the language of the world, whether we like it or not. Everywhere, people are choosing English as their default second language if it is not already their first. Even people who can mainly speak one language would have known just a few English words instead of other languages like Chinese, French, Japanese etc. When communicating with foreigners, people’s default language is English.
True, there is Google Translate and ChatGPT now. But that can only get you so far. The ability to communicate in English opens up more opportunities for you. You do not need to be as fluent as a native, but you should be proficient enough to communicate and get your idea across without too much difficulty.
Work on your command of the English language if you need to do so.
Earning Income In A Strong Currency Or High-Cost Area
Earning income in a strong currency simply means higher efficiency in earning money. For example, a teacher in Singapore can earn 5000 SGD a month, while another teacher in China probably earns 5000 RMB a month. However, the current exchange rate is 1 SGD = 5.45 RMB. This just means the teacher in Singapore has an efficiency 5.45x compared to the teacher in China. Yes, Singapore has a higher cost of living, but since we are on geographical arbitrage, we can just ignore this aspect.
Places with a higher cost of living tend to also have higher salaries to support their basic living in the area. We will skip poorly managed countries with high cost of living but also high unemployment rate. Singapore and Hong Kong are very good examples of countries with high cost of living, and consequently, the salaries are higher. Earning money from such places will net you a good chance of getting a high salary, which again is more efficient as compared to certain places.
While certain undeveloped countries do have a few sectors or jobs paying good money, but since our time and energy is limited in hunting for opportunities, we will skip such countries.
Learn A Relevant Skill
By relevant skill, I mean a skill which allows you to work anywhere on Earth while earning the currency of another place. In the past, that is near impossible. But with technology, there are many jobs which one can work on as long as you have an internet connection, a laptop and a smartphone.
Traditionally, such jobs are primarily in the IT sector. But when Covid struck and people were forced to work remotely, people realised that there are many other jobs which can actually be done online. So we ask ourselves, what jobs can we do that fit into such a category?
For me, I teach tuition online. It is a job which I believe many can do as long as you have a basic level of education. However, online tuition is only one of my side gigs. I also run an online business part-time. Around the world, there are also many jobs one can do. One only needs to go to Upwork or Freelancer to see the whole range of jobs available. From translation to web design, from copywriting to marketing, there is bound to be a skill which suits you. Do note that while I mention Upwork or Freelancer, I do not go over there to look for jobs because the prices are too depressed.
But one thing which is common for the above: Almost all requires the use of English language, even if both parties are not native English speakers. English is simply the language of the world.
Learn or make use of your relevant skill, and be good at it.
ๅฐ็ๅฅๅฉๆฏๆๅจ้ซๅฏ็ๆ้ซ็ๆดปๆๆฌ็ๅฐๆน่ณบ้ข๏ผ็ถๅพๅจไฝๆฑ็ๆไฝ็ๆดปๆๆฌ็ๅฐๆน่ฑ้ท๏ผๅพ่่ฟ ้็ดฏ็ฉ่ฒกๅฏๆๅจ่ผไฝๆๆฌไธๆ้ซ็ๆดป่ณช้ใๆฐๅ ๅกไบบๆฟ่้ซๅฏ็็ๆฐๅนฃๅฐ้ฆฌไพ่ฅฟไบๆฐๅฑฑ่ฑ้ท๏ผๆ้ฆๆธฏไบบๅฐไธญๅๆทฑๅณๆถ่ฒป๏ผไฝๅจ้ๅข็ๆณๅไบบๆฏๅคฉ่ทจๅขๅฐ็ๅฃซไธ็ญๆฏๅนพๅๅ ธๅ็ไพๅญใ
ไฝไปฅไธ็ไพๅญ้ๆฏๆไบบๅฑ้ๅจไธๅๅฐ็ไฝ็ฝฎใ้ค้่ฝๅฏฆ็พๅฎๅ จ็่ช็ฑๆตๅ๏ผไธ็ถ่งฃ้ไธไบๅฐ็ๅฅๅฉ็ๅ จ้จๆฝๅใ
ๆ็พๅจๅจๆณฐๅๆผ่ฐทไธไธชๆ๏ผไผๅๅ ผ่็ๆๆฟๅญ็ไบๅใๆไบ่ฎ่ ๆ่จฑๅทฒ็ฅ๏ผๆผ่ฐทๆฏไธๅๅพๅคๅคๅไบบๅฑ ไฝ็ๅฐๆน๏ผ็ญๅๅนพๅคฉ(ๆ ้)๏ผ็จๅพฎ้ท้ป็ๅๅ้ๆฐไธๆจฃไฝๅนพๅๆๅฐฑ่ตฐ๏ผ้ทๅไธๅนดไปฅไธ้ฝๆฏๅพๅธธ่ฆ็ไบใ้ไบไบบ่กจ้ข็่ตทไพ้ฝไธๅจๅทฅไฝ๏ผๅฏฆๅไปๅๅช่ฆๆ็ถฒ็ตก๏ผไธๅ็ญ่จๆฌ้ป่ ฆๅไธๅๆบ่ฝๆๆฉ๏ผๅฐฑ่ฝ้จๆ้จๅฐ็ๅทฅไฝใ้็พ่ฑกๆฉๅจ15ๅนดๅๆๅทฒ็ฅๆ๏ผไนๆงๆฌ้ๆจฃ็็ๆดปๆนๅผใ15ๅนดๅพ็ไปๅคฉ๏ผ็งๆๆด็ผ้ไบ๏ผ้กไผผ็ๆฉๆไนๅคไบ่จฑๅค๏ผ่ฎๆดๅคไบบ้ฝ่ฝๆ้ๆจฃ็ๆฉๆใไปๅคฉๆๅๆข่จๅฆไฝ่งฃ้ๅฐ็ๅฅๅฉ็ๅ จ้จๆฝๅใ
่ช่จ
ๅไบบ่ช็บ๏ผๆ้่ฆ็ๆ่กๅฐฑๆฏๆๆก่ๆตๅฉ็่ฑ่ช่ฝๅใ้ๅไฝ ็ๅๅฎถๅคๅผทๅคง๏ผไฝ ่ช็บๆๆฒๆๅฟ ่ฆๅญธ่ฑ่ช้ฝๆฒ้ไฟใ่ฑ่ชๅฐฑๆฏๅ้้็จ่ช่จใๅ จไธ็่ฆๅ็ฌฌไธ่ช่จๆฏ่ฑ่ช๏ผ่ฆๅ็ฌฌไบ่ช่จๅฐฑ้ธ่ฑ่ชใๅจๅๅค๏ผๅณไพฟไบบๅๅชๆไธๅ่ช่จ๏ผ้ๅฐๅคๅไบบ็ๆๅไปๅ็้ป่ชๆจกๅผๅฐฑๆฏ็กฌๆ ๅบๅนพๅ่ฑๆๅญ๏ผ่ไธๆฏ็จ่ฏ่ช๏ผๆณ่ช๏ผๆฅ่ช็ญ็ญใ็พๅจ็ขบๅฏฆๆ็ฟป่ญฏ่ปไปถๅChatGPT๏ผไฝๆฏ้ไน้ฝๆ้ๅถใ็ๆญฃ่ฝไปฅ่ฑ่ชๆบ้๏ผๆ่ฝๆดๅฑๆดๅคๆฉๆใไฝ ไธ้่ฆ่ชช่ไธๅฃๆตๅฉ็่ฑ่ช๏ผไฝ่ณๅฐๅพ่ฝๅ็็ๆบ้ๅๅณ้ไฝ ็ๆณๆณใ
ๆๅฟ ่ฆ็่ฉฑ๏ผๅฐฑๅป็ทด็ทด่ฑ่ชใ
ๅจ้ซๅฏ็ๆ้ซๆๆฌ็ๅฐๆน่ณบ้ข
ๅจ้ซๅฏ็็ๅฐๆน่ณบ้ข = ๆด้ซๆ็่ณบ้ขใไปๅคฉ็ๅฏ็ๆฏ1ๆฐๅนฃ = 5.45ไบบๆฐๅนฃใไธๅๅจๆฐๅ ๅก่ณบ5000ๆฐๅนฃ็่ๅธซๅไธๅๅจไธญๅ่ณบ5000ไบบๆฐๅนฃ็่ๅธซ๏ผๆ็ๅฐฑๅทฎๅ5.45ๅใๅ ไธ่ชชๆฐๅ ๅก็ๆดปๆๆฌ้ซ๏ผๅฆๆ่ฆๅๅฐ็ๅฅๅฉ๏ผ้ฃๆฐๅ ๅก็็ๆดปๆๆฌๅฏๅฟฝ็ฅใ
ๅช่ฆไธๆฏๅๅฎถๆฒป็ไธ็ถ๏ผ้ซ็ๆดปๆๆฌ็ๅฐๆน้ๅธธไนไปฃ่กจไบ้ซ่ช่ณ๏ผไธ็ถ็พๅงๆดปไธไบใๆฐๅ ๅกๅ้ฆๆธฏๅฐฑๆฏๅพๅฅฝ็ไพๅญใ้ซ่ช่ณ๏ผ้ซๆถ่ฒปใๅจ้ไบๅฐๆน่ณบ้ข๏ผๆฟๅฐ่ผ้ซ่ช่ณ็ๆฉๆๅฐฑๆฏๆฏๅฅ่้ซใ
็ถ็ถ๏ผๅจๆไบไธ็ผ้็ๅๅฎถ๏ผไน็ขบๅฏฆๆ้ซ่ช่ณ็ๅทฅไฝใไฝๆฏๅ ็บๆฆ็่ผไฝ๏ผๆไปฅๆๅไธ่ฑ่ฒปๅฏถ่ฒด็็ฒพๅๅๆ้ๅจ้ไบๅๅฎถๆพๅทฅไฝใ
ๅญธ็ฟไธๅ็ธ้ๆ่ก
้็ธ้ๆ่กๆ็ๆฏ่ฝ่ฎไฝ ๅจๅฐ็็ไปปไฝไธๅๅฐๆน่ณบๅๅฆไธๅๅๅฎถ็่ฒจๅนฃใๅพๅ๏ผ้็จฎๆณๆณๆฏๅนพไนไธๅฏ่ฝๅฏฆ็พ็ใไฝๆฏๆไบ็งๆ๏ผๅช่ฆๆ็ถฒ็ตก๏ผ็ญ่จๆฌ้ป่ ฆๅๆบ่ฝๆๆฉ๏ผๅฐฑ่ฝๆๅพๅคๆๅ้ฝ่ฝๅ็ๅทฅไฝใ
ๅฐฑไปฅๅพไพ่ชช๏ผ้ไบๅทฅไฝไธป่ฆ่ขซๅฑ้ๅจIT่กๆฅญๅ งใไฝๅจ็ซๆ ๆ้๏ผๅคงๅฎถ้ฝ่ขซ่ฟซๅฑ ๅฎถ่พฆๅ ฌใไบบๅๆญคๆๆ่ญๅฐๅ ถๅฏฆๅพๅคๅทฅไฝ้ฝ่ฝ็ถฒ็ตกๆไฝใ้ฃ้บผๆๅๅๅ่ชๅทฑ๏ผๆไป้บผๅทฅไฝ่ฝ่ฎๆ้ฃ้บผๅนนๅข๏ผ
ๆ่ชๅทฑๆฏ็ถฒ็ตกๆๆธ็ใ้ๆฏไธๅๅช่ฆๆไธไบๅบ็คๆ่ฒ๏ผๅคงๅคไบบ้ฝ่ฝๅนน็ไบใ็ถ็ถ๏ผ็ถฒ็ตก่ฃ็ฟไธ้ๆฏๆ็ๅ ถไธญไธๅๅ ผ่ทใๆ่ชๅทฑไนๆไธๅ็ทไธ็ๆใๆพ็ผๅ จ็๏ผไนๆๅพๅค้กไผผ็ๅทฅไฝใๅช่ฆๅป่ช็ฑๆฅญ่ ๆ่็ถฒ๏ผๅฐฑ่ฝ็ๅฐๆๆ่ฝ็ทไธๅ็ๅทฅใๅพ็ฟป่ญฏๅฐ็ถฒ้ ่จญ่จ๏ผๅพๅฏซไฝๅฐ็้ท๏ผไธๅฎๆๅ้ฉๅไฝ ็ๅทฅไฝใไฝๆๆฏไธๆๅจ้ไบ่ช็ฑๆฅญ่ ๆ่็ถฒๆฅๆดป็๏ผๅ ็บ่ชๆฐด่ขซๅทๅพๅคชไฝไบใ
ไฝไปฅไธๆๅๅ ฑๅ้ป๏ผๅนพไนๆๆไบ้ ้ฝๅพ็จ่ฑ่ช๏ผๅณไพฟ้ๆน็ๆฏ่ชไธๆฏ่ฑ่ชใ่ฑ่ชๅฐฑๆฏไธ็่ช่จใ
ๆไฝ ็็ธ้ๆ่กๅญธๅฅฝ๏ผ็ทดๅฐ็็ซ็ด้็ๅฐๆญฅใ
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