Emirates 10th best location for expats in the world
DUBAI: For some time now, the UAE has had a reputation for being a country where expatriates come to live and work for a few years before moving on. However, according to HSBC’S latest Expat Explorer survey, the country is increasingly gaining momentum as a location where expatriates are not only looking to build their careers in the short term, but also a place they are choosing to settle down for the longer haul. The UAE is now the 10th best place in the world to live as an expat.
Now in its 10th year, HSBC Expat Explorer surveyed expatriates living in 46 different countries, assessing their levels of fulfilment – be that financial, professional, personal, or a combination of all three – through three key themes of economics, experience, and family. In the results, Singapore came first overall, with New Zealand listed as the best destination for experience (58% moved there to improve their quality of life), the Netherlands for family (76% noted its health and wellbeing benefits for children, while 72% cited its high quality of education), and Switzerland for economics, thanks to confidence in the local economy and political stability. In the Expat Explorer league table, the UAE came 10th overall, ranking 5th for economics, 20th for experience, and 24th for family.
Greener pastures More than half (56%) of those surveyed said that they had moved to the UAE to improve their financial prospects and earnings, and with the average gross personal income listed as $127, 197 along with a 92% employment rate – compared to a global average of just 78% – it’s easy to see why the country holds such strong appeal for those seeking to broaden their career horizons. In fact, compared to 2016, the number of expats who say that their earnings potential is better than that in their home country has improved by 10 percentage point, with 75% claiming that they can earn more here than they do back home. For most respondents, home is either Europe (35%), or South and Central Asia (35%).