HSBC Expat - Expat Explorer
HSBC ExpatExpat Explorer Survey 2012Expat Explorer Survey 2012The Expat Explorer Survey 2012Page 1
The Expat Explorer SurveyExpat Explorer is the world’s largestglobal survey of expats. Commissionedby HSBC Expat, a trading name of HSBCBank International Limited, and conductedby third party research company YouGov,5,339 expats were questioned through anonline survey.Now in its fifth year, the survey continuesto provide valuable insights into expat lifearound the globe.Individuals from six continents describedthe opportunities and challenges theyexperience living away from home. Thesurvey provides an insight into howexpat life differs from country to country,continent to continent and from an expat’scountry of origin.The Expat Explorer Survey 2012The report covers threekey aspects of expat life:Expat EconomicsExpat Economics looks at a range of factors including expat earning levels, spending, saving and investing patterns, andthe impact of the current global financialclimate to paint an informed picture of expats’ economic situation around the worldExpat ExperienceExpat Experience looks at expat qualityof life including emerging trends on expatrelocation, how expats keep in touch withfriends and family, and their plans forretirementRaising Children AbroadRaising Children Abroad looks at threemain factors deemed important for expatparents: childcare, health and wellbeing,and education and integrationPage 2
ContentsExecutive Summary4Expat Economics 6Expat Experience 20Raising Children Abroad26Methodology and sampling31The Expat Explorer Survey 2012Country Reports–– Australia35–– Bahrain 36–– Canada 37–– China 38–– France 39–– Germany40–– Hong Kong41–– India 42–– Malaysia43–– Mexico 44–– Saudi Arabia45–– Singapore46–– South Africa47–– Spain 48–– UAE 49–– UK 50–– USA 51–– Vietnam 52Page 3
Executive SummaryDean Blackburn,Head of HSBC Expatquality of life factors, demonstrating thatthe country delivers across numerouselements of expat life.As the Expat Explorer survey enters itsfifth year we’re pleased to see that over5,000 expats from around the world havetaken the time to share their insights andopinions with us. Over the past year we’vewitnessed many events that have affectedthe global expat population, and we’re ableto see both the impact of these differentevents and the subsequent reaction ofexpats across different regions of theworld.The Middle East, meanwhile, has cometo symbolise a region providing incentivesand rewards to expats looking for financialgain. This year’s report shows that thistrend continues in 2012 as expats reporta positive economic outlook, believingthe area provides a strong draw to thoselooking for career opportunities. Alongsidethis, expats report that the region iscontinually improving as a place to liveand work.Asia is increasingly coming to the foreas a top destination for both financialopportunity and life experiences. Whilethe region has historically been a popularchoice for those looking for increasedquality of life, the dominance of Asiancountries at the top of this year’s ExpatExplorer Economics league table highlightsthat it is fast becoming an all-round topexpat destination – especially Singapore,which ranks well as a place for careerprogression and financial gain as well asDespite the many positives, the regionstill remains most popular with shortterm expats. Many expats that move tothe Middle East retain a stronger thanusual affiliation to their home country,suggesting that many intended to moveto the region for a set period of time,potentially to take advantage of the higherincome available to expats in the region,before moving elsewhere or back to theirhome country.The Expat Explorer Survey 2012Dean Blackburn,Head of HSBC ExpatPage 4
Executive SummaryIn contrast, European-based expats aremost likely to have lived in their currentcountry for a considerable period oftime. This is most pronounced in Spainwhere, despite the fact that they reportbeing severely affected by the economicproblems being faced by many Europeancountries, expats show few signs ofactively looking to leave the country asa result. For many expats, the choice tomove to Europe may well be one theywill stick to regardless of widereconomic uncertainty.This may be explained further by thehigh number of expat retirees in theregion who have made long term tiesand therefore will remain in the country.France and Spain in particular lead the wayas countries favoured by those looking toretire away from their home country. Ofthe expats we spoke to, over a third livingin these countries are retirees, comparedto an average of only one in ten globally.With great weather and an increasedquality of life among the key drivers forexpats when choosing their retirementlocation, it seems these countries provideThe Expat Explorer Survey 2012the optimal benefits for thoselooking to retire away from home.boost expats’ views of the country as topdestination for entertainment and culture.One area of the Eurozone with a differentoutlook is Germany. Far from a haven forthose looking to retire, the country is mostpopular among young career-driven expats- many of those who moved to the countryhave done so to take advantage of a jobopportunity or increased financial gain.The economic outlook among the Germanexpat population is also more positive thanexpats across the rest of Europe. Expatsliving in Germany were more likely toreport that they are satisfied with the localeconomy and that they believe the countryis getting better as a place for expatsto live and work than other Europeancountries.For expat parents there is even more totake into consideration when choosingwhere to live and work and safety ofchildren, and their ability to integrate intothe new community are of paramountimportance. Canada scores top in theRaising Children Abroad league tables. Thecountry scores well alongside Australiaas a place for active families, with expatparents here reporting their children aremore active in sports and playing outdoorssince relocation. Meanwhile, Hong Kongleads the way for safety, offering expatparent’s peace of mind that their child isliving in a safe and secure environment.While the UK mirrors the uncertaineconomic outlook seen across themajority of European countries in thisyear’s report, the country ranks muchhigher for Expat Experience than wehave seen in previous years. It seemsthe cultural events taking place in thecountry over the past year have helped toIn terms of expat finances, the reportshows that expats now hold a higherproportion of their wealth in longer terminvestments, compared to when theyinitially moved to their current country.This is most pronounced in Europe,where a higher than average number ofexpats have increased the proportion oftheir investments held in real estate sincerelocating.The move comes at the expense of cashinvestments, which now account fora smaller proportion of expats’ overallinvestments than when they originallymoved to the country. The change may bein response to the economic uncertaintybeing faced by expats, who are looking forlonger term investments to act as a safetynet for their wealth in light of the currenteconomic uncertainty, but for expats inEurope, the move could also be explainedby the higher numbers of expats settingup ties and deciding to stay long term intheir current country by investing in localproperty.I hope you enjoy reading this year’s ExpatExplorer report, and find it as interestingas I have. Thank you again to all those whotook the time to fill out the survey.Page 5
Expat EconomicsLeague tableAbout Expat EconomicsExpat Economics focuses on how the economic situationdiffers for expats from country to country.OverallCountriesScoreWealth HotspotRankScoreIncomeRankScoreDisposable 315Thailand0.4530.4640.3360.5940.421Hong Kong0.4140.4930.3640.6230.2414Cayman 0.30110.19120.41110.287South .21170.20170.15150.26190.2316Saudi .17190.07200.27180.2317United Arab 40.08270.03290.13260.2510New United 06290.07210.04300.1327The Expat Explorer Survey 2012Page 6
Expat Economics findingsThe Middle East continuesto draw financially mindedexpatsOver recent years the Middle East hascome to symbolise a region for expatslooking for greater financial rewardsand new opportunities. The ExpatExplorer 2012 report highlights that thistrend continues, as the region retains apositive economic outlook and providesopportunities for younger, career-orientedexpats.While the data from this year’s reportshows that expats across the globe arecontinuing to feel the economic strain,those in the Middle East remain relativelypositive about the state of their localeconomy. Expats in Oman (90%), Qatar(89%) and Saudi Arabia (83%) report amuch higher satisfaction level with thestate of their current economy than expatsacross the world (59%).benefits for careers and remuneration.Across the Middle Eastern nations,expats are drawn to the countriesfor job opportunities, with this beingthe key driver for expats heading toQatar (77%), Saudi Arabia (76%), Bahrain(74%) and the UAE (65%). Within thesecountries expats also benefit financially.Alongside high salaries, the low tax rateson personal income in many MiddleEastern countries have helped expats tosecure increased disposable income asa result of their move, in comparison tothose living in other regions.Perhaps as a result, the region isparticularly popular with young expats.In Saudi Arabia in particular, nearly half(46%) of expats heading to the region arein the young working age demographic(18-34 years old), with less than one inten (8%) aged over 55. The ages of expatsheading to the region are in stark contrastto the make-up of expats worldwide,where 32% of expats are aged 18-34and 22% are over 55.Expat earning potential in the Middle EastGlobalAverageMoreBahrainLessKuwaitAbout the sameOmanQatarSaudi ArabiaDon’t KnowThis relative shelter from the economicstorm offers wider opportunities andThe Expat Explorer Survey 2012Page 7UAE
Expat Economics findingsDespite the economic advantagesof the region, the Middle East failsto draw expat lifersDespite the strong performance of many of the MiddleEastern countries in the Expat Explorer Economics leaguetables this year, a high proportion of expats in the regionare looking to leave their current country. Roughly onethird of expats in Saudi Arabia (34%), Qatar (30%) andOman (29%) are actively looking to leave their currentcountry for either another posting or to return to theirhome country - a much higher proportion than theglobal average of one in ten (13%).However, this high proportion of expats looking to leaveis not a result of unfavourable conditions. Expats in theseMiddle Eastern countries are more likely than average tobelieve their country is getting better as a place for expatsto live and work, and views of the current economicand political outlook remain positive in almost all MiddleEastern countries in comparison to global averages.Instead, it seems Middle Eastern-based expats retain amuch stronger affiliation with their home country thanexpats in general, which may suggest these expats havealways intended to move to the Middle East for a setperiod of time, before returning to their home countryor moving to another expat posting.The Expat Explorer Survey 2012Page 8
Expat Economics findingsThis trend is most pronounced in Saudi Arabia, wherethree quarters (75%) of expats have retained a very strongconnection to their home country, but is also replicatedacross other Middle Eastern nations such as Bahrain(71%), Kuwait (71%), Oman (65%) and Qatar (60%).As a result, the key drivers behind expats looking toleave the region are in fact changing family needs orsimply wanting a change. That said, rising living costsare increasingly important for expats in the region too.GlobalAverageMiddle Eastern expatsReasons for moving awayfrom the Middle EastKuwaitOmanQatarSaudiArabiaUAEActively looking to move toyour home country or anothercountry13%37%25%29%30%34%17%Considering a move to yourhome country or other country26%29%39%23%33%32%30%Intending to stay in your current country62%34%36%48%37%34%53%There are too fewopportunities relativeto other places22%32%22%13%25%21%27%Rising living costs35%24%50%31%32%33%45%I want a change42%56%41%56%61%53%41%I always planned to move atthis point22%8%26%25%18%27%17%Contract / Work iscoming to an end19%16%13%25%23%11%14%Family needs34%52%48%50%30%48%37%9%60%20%-5%6%6%Negative economic outlook20%32%13%-2%10%18%Promotion / Seconded 5%13%3%-2%6%-1%3%Political instabilityNone of the aboveThe Expat Explorer Survey 2012BahrainPage 9
Expat Economics findingsBahrain bucks theMiddle Eastern trendas political instabilitycreates uncertaintyaverage (59%), with only twofifths (42%) satisfied. Yet this isnot the area in which expats arereporting the highest level ofdissatisfaction.The economic outlook acrossmost Middle Eastern countriesis positive and the region isincreasingly a place expatsenjoy living. But this trend is notmirrored across every MiddleEastern nation.For many expats in Bahrain,political instability remains abigger concern than the state ofthe economy. While the numberof expats actively looking toleave Bahrain (37%) is slightlyhigher but broadly in line withother Middle Eastern nations,more than half (60%) of thoselooking to leave are doing sodue to political instability. Whilethis figure is much higher thanthe global average (9%) it is alsomuch higher than other MiddleEastern countries such as SaudiArabia (6%) and Qatar (5%). Itseems the Arab Spring, whichhas had a pronounced impacton Bahrain since the beginningof 2011, is still having a notableimpact on the views of expatsliving in the country.Expats in Bahrain paint a differentpicture from those in the rest ofthe Middle East across a rangeof factors. Just over one in ten(13%) expats believe Bahrainis heading in the right directionwhile a quarter (26%) believesthe country is off on the wrongtrack. In addition, while theeconomic outlook is well aboveaverage in every other MiddleEastern nation, satisfactionwith the state of the economyin Bahrain is below the globalThe Expat Explorer Survey 2012Expat Sentiment in the Middle UAESatisfied with the current state of the economy59%42%68%90%89%83%77%Associate country with strong political stability35%11%27%61%46%41%51%Host country is heading in the right direction37%13%26%45%50%43%51%Host country is off on the wrong track19%26%22%3%10%13%10%Host country getting better for expats30%21%38%61%60%49%49%Host country getting worse for expats28%50%31%29%14%27%21%Page 10
Expat Economics findingsStrong contingent of expat lifersmeans European expats arewilling to weather theEurozone stormThe Expat Explorer survey this year highlights theimpact of the Eurozone crisis on expats in theregion. Expats in Spain are feeling the impact mostacutely, being twice as likely (39%) to feel that theircountry is off on the wrong track than the globalaverage (19%).In turn, this has affected Spain-based expats. Some58% of expats living in Spain said they thoughtthe country is getting worse for expats. Althoughnot quite as pronounced as Spain, expats inother European nations including the UK (44%),Netherlands (43%), Italy (37%) and France (33%)are also more likely than expats globally (28%) tobelieve their country is getting worse as a place tolive and work.Satisfaction with the economies of the Eurozonecountries is similarly bleak. While those in Spainare most likely to report dissatisfaction with thecurrent state of the economy (92%), expats in Italy(70%), the UK (68%), Belgium (53%) and France(48%) are also more likely to be dissatisfied withthe current state of the economy than satisfied.However, despite the pessimism towards thecurrent economic environment, expats in Spain areproving extremely resilient to Eurozone woes. Noexpats (0%) in Spain are actively looking to leaveSpain in favour of their home country or anotherexpat posting, compared to a global average of13%. In fact three-quarters (74%) are intendingto stay. Similarly, expats in the UK and France arealso, by and large, intending to stay in their countrywith 71% and 69% respectively intending to stayput (compared to a global average of 62%).The countries that are showing marked resiliencehave a strong contingent of expat lifers (expatswho have lived in their current country for at leastthree years). In the UK, 89% of expats have livedin the country for more than three years, alongside68% in Spain and 61% in France. In addition, ahigh proportion of expats in France (41%) andSpain (32%) are retirees – much higher than theglobal average of one in ten (9%). It seems thatwhile economic conditions might be difficult inthe current country, expats in these nations havea long-term mindset and so are willing to weathereconomic fluctuations.Percentage of expats actively looking to leave their current countryGlobalAverageAre zerlandUnitedKingdomActively looking to move to yourhome country or another country13%26%14%11%7%18%0%6%7%Considering a move to your homecountry or other country26%32%17%26%33%37%26%29%21%Intending to stay in your currentcountry62%41%69%63%60%45%74%65%71%The Expat Explorer Survey 2012Page 11
Expat Economics findingsCareer-driven expats inGermany report a strongeconomic outlook, in contrastto the European trendWhile expats within the Eurozone feel the impactof the economic climate most acutely of allcountries in this year’s report, expats in Germanyare bucking the trend seen elsewhere in theregion.In contrast to most European expats, those livingin Germany report a very positive outlook in thecurrent state of the economy. More than ninein ten (91%) expats in Germany believe that theeconomic situation in their country is either gettingbetter or staying about the same, with a similarnumber reporting that they are satisfied with thecurrent state of the economy (86%). In addition,the majority of expats in Germany (61%) think thatthings are generally heading in the right direction(compared to a global average of 37%) andassociate the country with strong politicalstability (67%).While Germany is in a stronger economic positionthan some of the European nations includedin this year’s survey, the country also attracts adifferent type of expat, which could help furtherexplain the differing view of expats living in thecountry.Expats in Germany are likely to be career-drivenexpats who have chosen to relocate to takeadvantage of job opportunities or financial gain asopposed to other European destinations that arepopular with retirees or expat experiencers (thosewho move for a better quality of life).For example, France and Spain remain popularwith expat retirees (41% and 32% of expatsin France and Spain respectively are retireescompared to only 7% in Germany) and expatexperiencers. In contrast, more than half (55%)of those who moved to Germany expected tobenefit from a better job, compared to just a thirdof those living in France (33%) and Spain (29%). Inaddition, half (49%) of expats in Germany movedthere expecting financial gain, compared to just22% and 18% of expats in France and Spainrespectively.As a result, expats in Germany have a differentdemographic make-up to those in many otherEuropean countries. One in four (23%) expatsin Germany earn between 100,000-200,000,in stark contrast to those based in Spain wherefewer than one in ten (8%) earn a salary in thatrange. They are also most likely to be working inthe IT and internet sector (14%), manufacturingand construction (12%) and science and research(10%) and tend to be from English-speakingcountries such as the USA (25%) and the UK(15%).Expat Sentiment in landsSpainSwitzerlandUnitedKingdomHost country is off on the wrong track19%21%20%7%30%19%39%3%36%Host country is heading in the right direction37%24%27%61%13%30%5%65%20%Host country is getting better for expats30%24%13%35%10%15%11%19%12%Host country is getting worse for expats28%21%33%9%37%43%58%3%44%Satisfied with the local economy in host country59%41%44%86%17%52%5%94%28%Dissatisfied with the local economy in host country37%53%48%13%70%43%92%6%68%Actively looking to move back to home country13%26%14%11%7%18%0%6%7%Intending to stay in host country62%41%69%63%60%45%74%65%71%The Expat Explorer Survey 2012Page 12
Expat Economics findingsExpat wealth begins migrationfrom Middle East to AsiaWhile the Middle East has, in previous years, reigned asthe region for expats looking for increased wealth andfinancial gain, this year’s Expat Explorer report showsthat Asia is beginning to take the expat wealth crown,with Asian countries dominating the Expat ExplorerEconomics league tables.This year five Asian countries feature in the ExpatEconomics league table top ten - Singapore (1st), Thailand(3rd), Hong Kong (4th), China (7th) and Vietnam (10th).Singapore leads the way, with the country holding thelargest proportion of wealthy expats of any country;some 43% of expats in Singapore interviewed in thisstudy earn more than 250,000 per year, compared toa global average of only 7%.With the high number of expats who have headed toSingapore expecting more money (72%) or expectinga better job (70%), it is unsurprising to see that threequarters of expats in Singapore (74%) would considermoving to another expat posting after this one. One inten of those surveyed (11%) said either Australia orHong Kong would be their next expat location of choice
The Expat Explorer Survey 2012 Page 2 Expat Explorer is the world’s largest global survey of expats. Commissioned by HSBC Expat, a trading name of HSBC Bank International Limited, and conducted by third party research company YouGov, 5,339 expats were questioned through an online survey. Now in its fifth year, the survey continues
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