May
17
Geo-Arbitrage- How the average person can take advantage of global currency differences
ByGeo-Arbitrage is a term I first came across in Timothy Ferriss’s excellent book the
There are 2 main applications
1 If you can charge in dollars for a job lets say $15 and get someone (usually a VA or virtual assistant in another location) to do the job for $5
you have just created an arbitrage ( money out of thin air).
2 If you are being paid in dollars and live in America and your cost of living ( rent, food etc ) is
$100) per month. It is possible to live in a country such as Thailand, Argentina etc where it will only cost you $500 per month for the same standard of living.
Where would you like to spend some time where the cost of living is lower than where you are.
Gavin
4 Comments
August 26th, 2010 at 2:06 pm
your grammar is horrible, your math is incorrect, and its just all poorly written; thats me being constructive. hopefully this is an autoblog, and not written by a real person.
June 4th, 2011 at 7:29 am
Geo-Arbitrage is a term I first came across in Timothy Ferriss
October 10th, 2011 at 9:50 am
The only problem is finding a VA that is competent without having to check or fix their work all the time. So yes this could work for making the difference when outsourcing, but I have found with complex tasks there is a lot of time spend training for more complex tasks.
November 20th, 2011 at 6:59 am
The reason why many business owners fail in taking full advantage of geo arbitrage is they do not have a clear hiring process. Just like with any HR work, you need to find good candidates, interview them, test them, and give them training. Especially since they are living in another country. Because there will always be differences there, if not just the language.