Freelance: From Desk Jobs to Digital Nomads

December 12, 2024  46 Views

For decades, most people used to follow a predictable path of employment: secure a job with a company, clock in from 9 to 5, and receive a steady salary. Yet this model, despite its conventional nature, wasn’t built for everyone. Enter a powerful tool that emerged as an upside-down transformative force offering new opportunities for individuals and businesses: Freelancing.

In this article, we will dive into what freelancing is, why creating a formal title for freelancers matters, and how this evolving domain is shaking up local and global economies.

 

What is Freelancing?

Freelancing is a type of self-employment in which individuals offer their services to multiple clients on a project or contract basis rather than being tied to a single employer. This vast field spans various industries, from graphic design and content writing to programming and consultancy. While offering flexible schedules, autonomy, and diverse opportunities for freelancers, freelancing has raised employee working standards and emerged as an appealing career choice for millions worldwide.

However, freelancers nowadays face significant challenges due to their legal status, such as limited access to benefits like health insurance and retirement plans. Added to this is the lack of support from governments, despite their substantial contribution to global economic growth. This critical situation can hinder the success and well-being of freelancers, underscoring the urgent need for a formal title for this vital profession.

 

Why is Freelancing vital for our economies and why should we create a title for freelancers?

Freelancing emerged as the embodiment of the International Labour Organization's (ILO) principles of decent work. Unlike traditional employment, freelancers have the power to shape their careers; choosing their clients, the number of projects they take on, and even the types of work that align with their passions and skills. This flexibility allows them not only to set their schedules but also enhances their willingness to work, and the effort they’ll be putting into the project.

Freelancing plays a vital role in blistering national economies. Its influence on economic growth can be observed through various dimensions, including job creation, empowerment of marginalized groups, and fostering of innovation and competition. Freelancers contributed around $1.3 trillion to the U.S. economy in 2023, with a projected increase in earnings for 2024  and they are expected to surpass $500 billion in 2024, reflecting significant growth potential.

Globally, freelancing has transformed the conduction of work across borders; breaking geographical barriers, allowing companies to tap into a diverse pool of talents, and encouraging knowledge exchange.

This interconnectedness not only enhances productivity but also promotes economic resilience by diversifying income sources for both freelancers and businesses with the worldwide freelance market estimated to be worth $1.5 trillion and is increasing at a compound annual growth rate (CAGR) of 15%.

 

Conclusion: The need to normalize freelancing

In conclusion, freelancing stands as a groundbreaking evolution in the employment landscape offering individuals remarkable flexibility, autonomy, and opportunities for both personal and professional growth. As more people are diving into this new work era, and more impact on economic growth is being noticed, it is essential to recognize the importance of formalizing the title of freelancers to enhance their commitment and ensure decent work conditions.

 

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Article Written by Mayssem Sidhom: Member of the Communications Team, 2024-2025.