New year, new job, new country? A stint abroad could be the key to unlocking a more confident, creative and adaptable you according to HSBC’s Expat Explorer survey, as it announces the best countries in the world to work abroad.
The United Arab Emirates (UAE) marks its third consecutive year in the top five, retaining its position as the fourth best place to work in the world.
The survey of more than 22,000 expatriates from the world’s leading international bank reveals that career ambition is the number one reason why people take the plunge and settle abroad.
Among the primary reasons expats highlighted the UAE as one of the top international career destinations was for the benefits packages offered by employers (ranked 1st) and its earnings prospects (ranked 3rd). 75% of expats in the UAE receive an annual airfare allowance to their home country and 85% receive health and medical allowances compared to global average of 17% and 43% respectively. 73% of UAE expats earn more than in home country.
73% of UAE expats earn more than in home country
With wage growth, the UAE also remains ahead on expats’ savings potential (ranked 2nd in the world) and disposable income (ranked 4th in the world). Some of the other factors that make the UAE an expat haven are safety (ranked 6th), buying and renting property (also ranked 6th), and quality of life for expat kids (ranked 11th).
Commenting on the findings, Marwan Hadi, Head of Retail Banking and Wealth Management, UAE, HSBC, said: “The UAE once again emerges as the destination of choice for ambitious globetrotters looking to expand their careers in 2019. Better earning potential is the cornerstone of why people seek career opportunities here. It is indicative of the success of UAE’s focus on diversification, which has resulted in the creation of an internationally recognised and sought-after working environment.”
Nearly three quarters of expats in the country (73%) said that they earn more than in their home country.
“Given these advantages, expats moving to and living in the UAE should look to make the best of their lives abroad. Knowing where to keep your savings and planning short and long-term financial needs is vital. Once you have the logistics in order, you can focus on seeking out new experiences, gaining new skills and learning more about your new environment,” said Hadi.
Gain confidence: UAE is the place to go if you want to build confidence and steer your career forward. 60% of people say working in the UAE has developed their confidence.