Over 4,100 expats from over 100 countries participated in this year’s HSBC Expat Explorer Survey, making it the largest survey of its kind and today sees the official launch of the first set of results.
Source: Andrew Bossi
Expat Economics, the first of three reports from 2010 revealed some interesting findings on expat earning levels, spending and investing patterns and favourable locations for expat finances.
Here, we would like to share some key findings with our readers:
- Emerging markets such as Russia, Singapore and the Gulf states offer expats top dollar. Expat Explorer found that foreigners living in Russia, Saudi Arabia, Bahrain, the United Arab Emirates and Singapore have the greatest overall wealth, defined as earning higher salaries, having more disposable income and owning more luxury items
- For example, Russian expats remain to be the wealthiest in the world, with over a third earning over $250,000, compared to the two-thirds of expats in Spain earning below $60,000
- Europe dominates the bottom of the economics league table with the UK ranking 20th out of 25 countries
- In the UK, one in five expats consider returning home whilst a third cite they have witnessed reduced career opportunities
- Globally, 47% of all expats believe that the economy in their current country has deteriorated since the start of 2009, a figure that increases for those in Europe: Spain (93%), United Kingdom (67%), Belgium (60%) and France (60%)
- Overall, Expat Explorer found that expats repatriate a large proportion of wealth through long term investments, the most common being property (30%), equity (22%) and bonds (11%)
If you are interested in how individual countries fared you can take a look at the full report here.
We’d like to know some of your thoughts on the findings and how well you think your country did compared to others. Feel free to leave us a comment below!