When traveling, the new events and experiences you encounter will help rewire your brain, hence boosting your mood and self-confidence.

According to a Cornell University study, the anticipation of a trip can increase your happiness substantially, even more than the anticipation of acquiring something tangible, like a new car.

Going and living somewhere where you feel excited and intimidated at the same time can help you toughen up mentally and emotionally. 

Also, facing difficulties in an unfamiliar environment, among new people, forces you to learn and adapt to a life that's out of your comfort zone. This makes you more flexible, patient and emotionally strong. 

According to Adam Galinsky, a professor at Columbia Business School, visiting a foreign place and immersing yourself in their local environment increases your cognitive flexibility. 

It also enhances "depth and integrativeness of thought," consequently giving a boost to your creativity. However, traveling stimulates creativity only when you engage with the local culture of that place. Merely visiting a new city or a country isn't going to cut it.

Additionally, extended traveling also improves your productivity, problem-solving skills thus can increase your chances of getting promoted at work!