Where’s the best place for ex­pats to live?

Asian city state tops new HSBC poll

7 Days in Dubai - - FRONT PAGE - @Ma­hakLFC

Sin­ga­pore has topped a list of the best ex­pat lo­ca­tions, while Hong Kong was named the most de­sir­able des­ti­na­tion for ca­reer ad­vance­ment.

The 2016 HSBC Ex­pat Ex­plorer sur­vey, which in­volved 26,871 re­spon­dents in 190 coun­tries, found ex­pats in Sin­ga­pore and Hong Kong on av­er­age earn $102,115 and $170,000 per year re­spec­tively. The global ex­pat av­er­age is $97,000 per year, HSBC found.

New Zealand came in sec­ond and Canada was ranked third in the best des­ti­na­tions league ta­ble, ac­cord­ing to the sur­vey, which scored coun­tries based on the eco­nomics, ex­pe­ri­ence and fam­ily. Swe­den was named the best coun­try in the world for ex­pat fam­i­lies.

Of the Mid­dle East coun­tries, the UAE was 12th over­all, fol­lowed by Oman in 18th. By Ma­hak Man­nan

How­ever, ex­pat con­fi­dence in the eco­nomic out­look in the Mid­dle East has fallen to 52 per cent, down from 57 per cent last year.

Mean­while, the pro­por­tion of ex­pats in the Mid­dle East who saw their disposable in­come in­crease af­ter mov­ing also de­clined from 67 per cent in 2015 to 63 per cent this year.

But, ex­pats in the Mid­dle East still have some of the high­est lev­els of disposable in­come.

The av­er­age ex­pat in Qatar said 73 per cent of their in­come was disposable. The fig­ure was 65 per cent in Bahrain and 62 per cent in the UAE. The global ex­pat av­er­age was 56 per cent.

Although the UAE ranked 12th, drop­ping from ninth last year, it came fifth in the eco­nomics ta­ble rank­ings.

The ta­ble ranks each coun­try on the ba­sis of key

eco­nomic ar­eas, such as ex­pat’s per­sonal fi­nances, earn­ing prospects, lo­cal econ­omy and ca­reer pro­gres­sion. Un­der the eco­nomics ta­ble, the UAE ranked fifth in per­sonal fi­nances, fourth in lo­cal econ­omy and 14th for work­ing life. Job se­cu­rity got the low­est rank­ing un­der the UAE eco­nomics ta­ble at 26. An­drew Prince, a fi­nan­cial plan­ner with Devere Acuma, said the rea­son be­hind the over­all fall of rank­ing from ninth po­si­tion to 12th this year is the slow­down of econ­omy. He said: “In the last 12 months oil prices have been in the news ev­ery day and that has af­fected ex­pat con­fi­dence. “How­ever, many dif­fer­ent el­e­ments come into play when de­ter­min­ing the best place for ex­pats to live in, for ex­am­ple, Sin­ga­pore has bet­ter job se­cu­rity than UAE but when you look at the work/life bal­ance, UAE ranks bet­ter than Sin­ga­pore. “So although you might have job se­cu­rity, you would be work­ing 80 hours a week in Sin­ga­pore.”

Newspapers in English

Newspapers from UAE

© PressReader. All rights reserved.