["International Migration, Volume 64, Issue 5, September 2026. ", "\nABSTRACT\nWhile the impact of COVID‐19 on youth development has been widely studied, less is known about its effects on transnationally mobile young adults. This longitudinal study of Australian outbound and inbound mobility examines how the pandemic disrupted this population's experiences abroad as they navigated transitions to adulthood. It draws on two waves of survey data collected using a convenience sample between July 2020 and September 2022. Our findings reveal that COVID‐19 presented significant challenges to young adults living away from home, with disruptions to their future plans, social connections, and well‐being. However, these impacts were not uniform. The pandemic magnified existing inequalities, with those on short‐term visas, women, and those already facing financial precarity experiencing greater negative effects. Moreover, individuals who experienced higher negative effects also reported increased struggles in achieving personal milestones associated with transitions to adulthood. This study highlights how crises (like the pandemic) amplify the vulnerability of transnationally mobile youth, a population often assumed to be—or actively striving to be—independent and self‐sufficient. It underscores the need for targeted support and interventions that address their specific challenges, including more equitable and inclusive migration and education policies that recognise the differentiated and overlapping vulnerabilities faced by this population.\n"]