UAE fourth-most popular destination for expatriates

The UAE is the fourth-best country in the world for expatriates looking to work abroad, according to newly released data from HSBC’s Expat Explorer Survey.

The survey of 22,000 people across the globe scored the Emirates in the top five for the third consecutive year because of generous benefits packages from employers and earning prospects.

“Better earning potential is the cornerstone of why people seek career opportunities here. It is indicative of the success of the UAE’s focus on diversification, which has resulted in the creation of an internationally recognised and sought-after working environment,” said Marwan Hadi, head of Retail Banking and Wealth Management, UAE at HSBC.

Germany was the most popular location for expatriates to move to, followed by Bahrain in second place and the UK in third. Switzerland was the fifth most-favoured relocation destination.

Salary increases are no longer enough to attract and retain the best candidates in the UAE, a new study from global recruitment consultancy Michael Page found, as employees prioritise other career benefits such as career development, organisational culture and flexibility.

While benefit packages were another primary factor, earning prospects was also among the top three attractions, the HSBC study revealed.

Three quarters of residents say they receive an annual airfare allowance to their home country and 85 per cent receive health allowances, compared to the global average of 17 per cent.

However, other factors play into the decision for those planning to relocate. Fifty-five per cent said the UAE was a good location to progress their career and six in 10 of those polled said working in the Emirates had developed their confidence.

Almost three quarters of expatriates in the country (73 per cent) said they earn more than in their home nation.

Salaries in the UAE are projected to increase by 4.8 per cent across all industries this year, a November study from global consulting company Mercer found.

In October, HSBC said more than half of UAE expatriates moved there to boost their income.

Twenty per cent said their yearly wage doubled in the Emirates in comparison to their earnings before their move, with the average annual expatriate salary of $155,039 the sixth-highest globally.

Those looking for a more sociable life should head to Brazil, Indonesia and the Philippines, according to HSBC’s data, while 57 per cent of foreign workers say that working in Brazil has made them more creative.