Effect of Digital Nomad on The Local Economy Question

Description

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Based on the discussion in our textbook, we know that some FSUs had an easier time adapting to the dissolution of the Soviet Union.For example, the authors note that the Baltic states integrated with their neighbors in Western Europe without much difficulty, and the ease of this transition may be due to the prior history of the Baltic states as well as their proximity to the western neighbors.

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Thanks to modern electronic communication tools, people are less affected by geography and history.To illustrate this point, we can use the example of digital nomads — people who can complete their work tasks from almost anywhere.During the past year, some people have tried to escape the pandemic by moving their family to rural areas, and others have taken advantage of closed offices by doing their online work from resorts or other desirable locations.If you could do your job online and weren’t tied to your current location by family or other commitments, would you become a digital nomad, or would you prefer to stay at home?If you prefer to travel, where would you go?If everyone could work in this way, would this help or hurt overall economic output (GDP)?

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Text Book: Title: Comparative Economics in a Transforming World Economy

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ISBN: 9780262037334

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Edition: Third

Explanation & Answer length: 650 Words

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