Friday, 9 October 2009

East to West - the financial divide

Our Expat Economics report described how, from the evidence of our survey results, wealth appears to be “moving East”. We found that Asia is home to among the highest paid expats in the world; while their poorer counterparts can be found in Australia and further west in Europe. The highest earners are to be found in Russia, Hong Kong and Japan.
At the same time, Western countries remain vastly popular for expats and in particular the population of the UK is expected to rise in the future largely due to migration, making it the most populous country in Europe by 2050 (see Daily Mail article). This is despite the reported cost of living in the UK.

Does this mean that there is a divide between the East and West in terms of the type of experience an expat can expect, and should seek? Does more competition for top salaries in the Western employment markets mean that it is easier for expats to find financial opportunity by looking East?

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