#SHSI Episode 16 - HOW DIGITAL NOMADS ARE RUINING CAPE TOWN FOR EVERYONE!

Millennial Cape Townians are under siege; they are under siege from global travelers called digital nomads. I’m sure you’ve started to hear a lot more about this, but this lovely bunch of travelers are basically long-term tourists that stay for 90+ days to about 36 months as per the new regulations. They come from much wealthier western nations and even Australians (I bumped into a few here). This should be a good thing, right? They’re bringing foreign, stronger currencies here to Cape Town and SA? This should be good, well, not so much. See, the thing is that there are knock-on effects to digital nomads being here, some good for businesses industries that cater to them but not so much for the native Cape Townians or people of which ever global south city that they choose to bless and/or burden. So in this video, I’m going to try and break down the numbers and political and socio-economic factors that are fueling the digital nomad situation in Cape Town and many other currency arbitrage cities around the world. Cities that offer great a 5-star lifestyle on a 3-star budget,” but let me be clear, this is a 3-star budget by Western standards.And to top it all off, I’m going to introduce you to Cape Town’s Property Industrial Complex, very similar to the US’s military industrial complex, wit less explosions, somewhat, but I’ll explain that a little bit later.