A recent report by market research and financial consultancy company Finaccord found that the number of expatriates across the world is at a record level, and growth is expected to continue over the next few years. The "Global Expatriates: Size, Segmentation and Forecast for the Worldwide Market" report stated that there are roughly 50.5 million expats worldwide, and the figure is expected to reach 56.8 million by 2017 – which is 0.77 percent of the total global population. Over the past five years, there has been a compound annual growth rate of 2.4 percent. Saudi Arabia has the most expats and India has the highest rate of citizens expatriating. "Global mobility has increased significantly over the past decade, and expatriates constitute a large and diverse market," said Tobias Schneider, a consultant at Finaccord. The report is the first to provide a worldwide analysis of global expats. It utilizes data from 30 inbound countries and 25 outbound countries, which were chosen based on economic status and role in the expat market. The inbound countries included the U.S., Australia, Germany, Hong Kong, Italy and Brazil, among others. Poland, Portugal, Russia, South Korea and Spain were among the outbound countries. Breaking down the figures Individual workers are predicted to have the second-strongest growth rate at 3.2 percent, followed by retired expatriates (2.9 percent) and corporate transferees (2.8 percent). The United Arab Emirates and U.S. followed Saudi Arabia in the rankings for the largest number of expats. The expat population makes up 98.4 percent of Saudi Arabia's total immigration population. Poland, Portugal and Sweden had the smallest expat populations. Qatar had the highest proportion of expats compared to its total population, at 70.9 percent. China and the U.K. followed India for producing the most expats. Gulf Coast countries drawing talent "The number of expatriates in the GCC [Gulf Cooperation Council] states – mainly individual workers from Asian countries – has increased at an enormous pace in recent years, as these economies are heavily dependent on the inflow of foreign workers," Schneider said. "In contrast, in other countries such as the U.K. and the U.S., international students constitute a comparatively large proportion of the total expatriate population whilst Spain still attracts many retired expatriates, although this number has itself fallen since the beginning of the financial crisis in 2008." Taking advantage of the data The study results may also indicate the direction of employee relocation in regard to location preference. Caitlin MortonMarch 3, 2022 4:33 PM These spots have that whole work-life balance thing all figured out. There’s a lot to consider before moving abroad: how the transfer will change your daily life and influence your family; whether the healthcare will meet your needs; and what it means for your emotional wellbeing and bank account (for starters). Well, global financial services company HSBC—which knows a thing or two about expats’ concerns—is here to help. The company recently released the results of its 14th annual Expat Explorer Survey. The questions in the survey were sent to more than 20,000 expats based in 46 countries, asking residents about the quality of life in their new homes. Factors like career opportunities, benefits for children, and community support (especially in the time of COVID) were considered when compiling the “living” portion of the survey, which we’ve shared below. Counting down from ten, here are the best countries for expats to live in right now. This article has been updated with new information since its original publish date. Enticed by modern cities and stunning countrysides, experienced expats have only great things to say about relocating to the Netherlands. The country broke into the top ten this year thanks in large part to its positive work-life balance—employees here earn 20 annual vacation days, and the average work week is just over 30 hours. We’re sure all those endorphin-boosting bike rides help a little bit, too. Survey respondents had an overwhelmingly positive experience with expat life in France. Aside from the obvious perks of living in the same country as cultural behemoths like Paris and Marseille, expats saw an improvement in career opportunities, finances, and education after moving here. Another notable perk? France’s famously excellent public healthcare is open to anyone who has been a resident for just three months. Only about 12 percent of the people living in the oil-rich United Arab Emirates are actually Emirati nationals: The vast majority of people who call Dubai, Abu Dhabi, or one of the other five emirates home are expats. We’re guessing the influx of foreign nationals has a lot to do with wage increases, as young professionals under the age of 35 in the UAE double their income on average when moving here. The cost of living in the major cities is quite steep, but the impressive salaries and increased rate of promotions means people still enjoy a better quality of life compared to at home. Whether you prefer the city streets of Dublin or rocky cliffs of Donegal, Ireland ranks as one of the best countries for expats this year. More than 544,000 expats of 196 different nationalities currently live in Ireland, soaking up the country’s distinct national pride and mingling with friendly locals at pubs. There are also practical advantages to moving here, like falling real estate prices and high-quality private healthcare for a fraction of what you’d pay in America. With stunning cities and landscapes that include beaches, mountains, and rolling vineyards, it’s no wonder Portugal earns such high marks among expats. It also happens to be one of the most affordable countries in Western Europe—even Lisbon boasts rent prices about two-thirds lower than in much of the United States. Finally, Portugal earns a lot of extra points for low crime rates: The Global Peace Index currently ranks it as the third-safest country in the entire world. European tourists have vacationed on the beaches of Cyprus for years, and it looks as if expats are starting to take note. The country’s introduction to the top ten this year has a lot to do with the low cost and high quality of life, with cheap rent and lenient taxes (especially in North Cyprus) sharing space with friendly locals and healthy Mediterranean diets. In fact, 9 out of 10 surveyed expats recommend moving to Cyprus for the quality of life alone. Yes, moving somewhere new can make you healthier—at least that’s what survey respondents in Australia suggest. Those who have taken up residence Down Under report that their health is better, also citing improved work-life balance and better education for children. Cities like Brisbane, Melbourne, and Perth are some of the most livable in the world, while the gorgeous landscapes throughout the country encourage all residents to get outside and enjoy nature. While it may not be the top choice for career progression and increased salaries, Spain simply makes people happier and healthier—enough so that it nabbed one of the top spots on this list. The land of siestas certainly knows a thing or two about work-life balance, with vacation allowances of 30 days per year. And the country’s dietary emphasis on olive oil, fresh vegetables, lean meats, and red wine—not to mention excellent public healthcare—means you’ll be healthy and refreshed enough to actually enjoy your PTO. Expats are quick to praise New Zealand’s laid-back lifestyle, with more free time after work to experience the adventure capital of the world’s huge variety of activities. All this leads to most new citizens experiencing a better quality of life and better mental well-being than in their home country. In all the survey’s measurements, New Zealand comes out near the top for work-life balance and political stability—add to that a high level of safety and friendliness among citizens, and this is one country that expats rarely want to leave. With impeccably clean streets and some of the world's best ski slopes just a train ride away from its cities (not to mention all that cheese), it’s no surprise that Switzerland made the top spot again this year. Almost 92 percent of surveyed expats say the country is a stable place to live, with average annual salaries clocking in at—are you ready for this?—$203,000 USD. Add to that superb international schools, low crime rates, and one of the world’s best healthcare systems, and you have yourself a country primed for an improved expat life. |
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