Freelancing is booming around the world, with Millennials and Gen Z driving most of the growth, according to a report released by financial services firm Payoneer.
The report, based on a survey of over 7,000 freelancers from 150 countries, showed that the freelance workforce is overall very young, with nearly 70% of freelancers surveyed being under the age of 35, and 21% under 25. In Asia, freelancers are even younger, with 82% of respondents being under 35, compared to 47% in North America.
Eyal Moldovan, general manager at Payoneer, said the growing global generational shifts are driving the global boom of freelancing. Older generations, on the other hand, find freelancing to be a way to stay relevant and to keep their skills sharp.