Normally, I write all the material for this blog myself, but came upon the article below and thought it sufficiently worthy to share with all of the readers of this site… Not any big surprises if you live and work in the GCC, but for those of our compatriot expats distributed all over the world, we thought it would make for interesting reading.
GULF EXPATS: Compared to last year's survey, Qatar was the biggest faller, dropping five places from second in 2009. The GCC is still the most popular destination for the world’s expats, as the region weathers the financial storm better than more traditional economies, the latest edition of the HSBC International Expat Explorer survey has revealed.
In a league table showing the best places for expats’ finances, Saudi Arabia came second, just behind Russia, with Bahrain in third and the UAE in fourth. Qatar was placed last of the four GCC countries, at a still-creditable seventh.
When questioned about their motivation to move to their country of choice, expats in Saudi Arabia and Qatar decided to do so primarily based on career and money prospects (85 percent and 83 percent, respectively).
Two thirds of expats across the world agreed that they had more disposable income, with 100 percent of respondents from Bahrain stating that was the case. The figures were also high in Qatar (92 percent) and Saudi Arabia (92 percent).
Qatar boasts the highest number of expats being able to save more than in their country of origin (92%) followed by Saudi Arabia (89%), Bahrain (88%) and Russia (76%).
However, higher salaries have resulted in these countries having to spend more too, with expats in Qatar (63%) spending more in their host country compared to their country of origin.
The report also showed that expats in the Gulf are the most likely to repatriate their property wealth, with very few investing in property in their host country.
A total of 49 percent of expats in Qatar invest in property their country of origin, with 60 percent of Saudi expats doing the same. In those countries, expats are prohibited from owning property in their countries of residence.
Of the expats who said that the financial crisis had impacted their countries’ economies, 87 percent said they would still not be relocating.
This trend was particularly high in Qatar (94 percent) and Bahrain (97 percent). HSBC attributed this to the fact that countries such as Qatar, Bahrain and the UAE tend to be Wealth Hotspots for expats and are in the top quartile when it comes to income and disposable income.
Now in its third year, the Expat Explorer survey spoke to 4,127 expats from over 100 countries worldwide.
http://www.arabianbusiness.com//
www.arabianbusiness.com%2F596225-gulf-still-favourite-destination-for-worlds-expats
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