We will need to select person. So Choose Pen tool and start tracing the person. End the circle and with right click choose make selection. Cut out person with shortcut control+j Right click on the layer and choose blending options. Choose Stroke Change color to white Change to wanted size and position to outside. For cooler effect you can make background layer more blury. So Go to Filter , gaussian blur and apply blur on this layer And you are done. 

Result:

Tutorial:

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