Freelancer and the Gig economy trends are on the rise, and countries worldwide are companies, and freelancers get the best business engagements for themselves. Freelancers mostly prefer to work in countries that offer the best financial income. Technology has made it possible for individuals to increase their earnings and make earnings from profitable side-gigs.
Among the different countries, America’s gig economy saw the maximum growth in 2019, with freelancer earnings moving up to 78% year-on-year, as per the Global Gig-Economy Index. While most U.S. workers of all ages are getting the maximum benefits out of it, young freelancers across Asia are also getting into the act. Here are some of the countries climbing up the charts among the gig countries in the world.
The United States (U.S)
Earnings for freelancers in the United States have increased tremendously in the last year, rising from just 10% in 2018 and increasing 78 percent in 2021; it certainly speaks volumes of the gig economy. The gig economy in the United States has attracted professionals of all ages.
However, it favors the younger generations who are highly technical or used to less traditional labor systems in other marketplaces. As per a study of over 6,000 US employees over 18, freelancers have generated $1.2 trillion. Despite the COVID-19 pandemic, that is pretty hard to ignore.
The United Kingdom (U.K)
The U.K. has joined the bandwagon to become one of the best countries, fast becoming one of the go-to countries for freelancing jobs. And that is because there has been a 59 percent year-on-year income rise. The professions like consultancy and I.T. have been expanding in most freelance markets. Most of the U.K.’s new freelancers generally thrive in the lifestyle and creativity sectors. Also, there has been a 24 percent increase in freelance photographers and a massive increase in freelance beauticians.
Brazil has also entered the list of the country with the most freelance earnings, almost 48 percent. It has been the world’s third-largest side-gig economy. It secures the position right after the United States and the United Kingdom. Brazilian firms have not been as open to embracing remote employees as the other two countries on the list. However, the freelance segment of the market is catering to businesses outside the nation. Other states are also eager to hire Brazilian freelancers, as their prices are substantially lower than the United States and Europe.
Most Asian countries join the Freelance bandwagon and have posed the highest regional growth rate. Earnings in four nations have increased by 138 percent. Pakistan has experienced a 47 percent growth in freelancer earnings over the last year. So while it was 4% in 2018, it came to 48% in 2020-2021, solidifying its position as one of the best gig countries.
The gig economy is expanding because of a younger population looking for new opportunities. A survey stated that as many as 12,000 young people (graduates) have e-jobs. They went on to earn almost Rs 14 crore throughout Pakistan’s re-employment freelancing program. And it thus ensures that there has been an increase in exchange and a step forward in reducing unemployment.
Ukraine’s freelancer revenue increased to 36% last year. It has been primarily because of the high percentage of I.T. university graduates. Ukraine is winning the Gig economy game since they are particularly good in I.T. services. And it has significantly increased its earning capacity.
As per a report, the Ukrainian government has a unique taxing framework for I.T. outsourcers and goods firms that helps them avoid the value-added tax. It also helps them hire freelancers as subcontractors who do not pay labor taxes. Apart from these perks, it can also benefit from easing foreign exchange regulations.
Ukrainians now are catering to the expanding Western markets too. Apart from that, they also share a time zone with the rest of Europe, making it easy for the rest of the countries to hire Ukrainian freelancers.
The Philippines charge less money for gig works, and it has been consistently in the top ten positions in the freelancing nations for several years now. In the Philippines, the government-funded Rural Impact Sourcing Technical Training Project (RISTT) has aided indigenous people with ICT-based expertise to help digital workers and entrepreneurs find a footing. The other countries are India, Bangladesh, Russia, and Serbia.
Do you think more and more countries will join this list in the days to come?