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If you don't mind me asking, do you think the same holds true for someone looking to work in another country?

I have just started my career in development in Brazil, without a degree. However, I was considering getting one in order to improve my chances of finding work in the US or Europe. Would I be better off using that time/energy working on projects and studying on my own (and accumulating work experience, of course)?

I can only speak about UK and Eastern Europe, but I think that holds true about most of Europe in general.

Dev work is generally very lax on academic credentials. Most of the time a great work record, open source contributions or other easily referenced work counts waay more than any degree you might hold.

Some startup gigs can even scoff on degrees, because it might indicate complacency rather than entrepreneurial spirit :)

A degree is a good way to get the first job.

Once you've held a job for a couple of years, it's easier to find new jobs, because the experience will speak for you.

Holding a degree will help you earn value/points when you're assessed applying for a work visa

It depends on the country. I'm also Brazilian and got German and Australian work visas without a degree. Most of Europe should be fine. I reckon for the American one you would need at least 12y of experience. The biggest challenge is to convince the company to sponsor you since a self-sponsored visa without a degree is usually quite tough.

I am actually living abroad now. I think the math is different depending on what country you are from though, choosing to be born in the US carries unfair advantages.

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