I used to split time between NYC and Vietnam. NYC for client work, Vietnam for bootstrapping my publishing platform (shameless plug our eat your own dog food first magazine is coming out soon: http://vimeo.com/100580125). However, for the last year, I've been in Vietnam full time, giving up my apartment in NYC and "relocating" to Nevada for tax purposes. I did this partly because I was getting closer to finishing up the first phase of the publishing project, but also because I found out I was going to be a father ;)
The hardest part is keeping work coming in at a constant enough rate. In NYC I was always booked solid, 24/7, but in Vietnam it comes and goes in spurts. Partly because some of the work I did in NYC has hardware requirements that can't be met here in Vietnam (large retail experiential installs) and partly because business is slow for my main client. Finding new clients to fill the gaps has required some serious email/linkedin networking hustle, but it can be done.
I've had people interested in hiring me for local projects, but I've had a hard time lowering my rates to a level acceptable for both parties. Even though they are regaled by the amount of experience, developing countries might not be so focused on quality over quantity. Which is OK.
If you take the time to get TEFL certification, that's a possible fall back. I'm a college drop out, so that's no bueno.
Anyways, wouldn't trade the experience for anything. YMMV.