Sixty-two per cent of the expats in UAE say they have more
disposable income than they did at home
UAE, Qatar among global top 10 for expat finances
DUBAI, January 2, 2017
The UAE and Qatar have been ranked among the top10 countries globally for expatriates to improve their earnings and savings as well as enjoy greater disposable income, according to new data released by HSBC’s annual Expat Explorer Survey.
UAE and Qatar took the fifth and eighth places respectively, while three countries in the region (Saudi Arabia, Bahrain and Oman) were not rated in the top 10 countries this year for economic aspects.
This slight decline comes amid a global reduction in the price of oil, which has affected economies in the region.
Expat confidence in the local economic outlook has fallen slightly in the Middle East to 52 per cent, down from 57 per cent last year.
This is in line with the expat global average of 52 per cent. The proportion of expats in the Middle East who saw their disposable income increase after moving also declined slightly, from 67 per cent in 2015 to 63 per cent this year.
However, the region remains an area where expats have some of the highest levels of disposable income, with 73 per cent in Qatar, 65 per cent in Bahrain and 62 per cent in UAE reporting they have more disposable income than they did at home, all above the global average of 56 per cent.
Many expats in the region are also able to save more: 77 per cent in Saudi Arabia, 70 per cent in Oman and 65 per cent in Bahrain say they are able to save more than at home, compared to the global average of 53 per cent.
The financial rewards of working in the region remain strong. In Qatar, 69 per cent of expats say they can earn more than at home, as do 66 per cent in the UAE and 59 per cent in Bahrain (compared with 42 per cent globally).
Expats in the region say the quality of their working life has improved this year. More than a third (36 per cent) of expats in the Middle East say job security is better than it was in their home countries, up from 30 per cent last year.
Expats say the balance between their working and personal lives has also improved, with 53 per cent saying they find it better than at home, up from 46 per cent last year.
The top 10 countries for expat economics are: Switzerland, Singapore, Germany, Norway, UAE, Sweden, Austria, Qatar, Netherlands and Canada. – TradeArabia News Service