Monday, 19 March 2012

At Home Abroad Series: Moving for Money

Source: Creative Commons/ 401k

Developments in technology are making it easier for people to keep in touch with loved ones, and with airfares getting ever more affordable and accessible, international living is becoming a deliciously tempting option for many people. Combine this with the lure of a new start and the promise of a luxurious relocation package, who can blame the thousands of workers searching out overseas positions and that ideal expat job.

In an article on the BBC, “How to judge if changing countries will pay, Rebecca Marston trails the experience of Simone Sbarglia who took the plunge and moved from his home country Italy to the USA, in order to take advantage of a career abroad and the financial benefits that followed. Commenting on his decision, he said, "A PhD student in the US gets as much as a full professor in Italy."

According the 2011 findings of the Expat Explorer Survey, more than half (55%) of people living abroad moved for reasons related to money or career prospects. Amongst those, expats in Egypt reported the highest increase in income and those who relocated to Saudi Arabia fared best in terms of overall economic benefits, with the country topping the Expat Economics charts.

But, of course, money isn’t everything, factors such as lifestyle and conditions for raising children abroad also play an important role in the decision-making process. 

Did you move abroad for financial gain? We’d love to hear from you. Let us know in the comment box below.

3 comments:

  1. We moved for the adventure, but the fact that we could do it with the financial support of the company was the catalyst. If we had moved for money, we would be kicking ourselves right now, because the 'hidden' costs, like losses on home sales, having to pay far more for international college fees etc. have outweighed the allowances.
    Having said that, we would do it all over again ( and still are!) but do a great deal more research and planning!

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  2. Good point you have on this blog. Moving abroad is indeed a tempting choice for those who are searching for better opportunities, but there are factors that should be considered first as this can be quite challenging.

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