2010 Expat Explorer Survey Results Released

The final results of the highly anticipated 2010 Expat Explorer Survey conducted by HSBC International Bank were recently released.  The entire survey consisted of three different parts and covered 4,127 expats in over 100 countries. 

The Expat Economics survey tested on four basic criteria: Income of over $200,000, disposable income of over $3,000, an increase in saving while living abroad, and having two or more luxury items in the country.  The study found that, overall, Russia is the best country for an expat to live in terms of economics, and is followed closely by three Middle Eastern countries: Saudi Arabia, Bahrain, and the UAE.  The USA ranked right in the middle of the 25 countries, with the bottom six being composed of popular but struggling European nations UK, Belgium, Spain, France, Germany, and the Netherlands.  The results also showed that BRIC countries (Brazil, Russia, India, and China) are emerging quickly as hotspots for expats.

The second survey, called Expat Experience, ranked countries by the quality of life that expats reported including ease of setting up in the new country and becoming integrated.  Many countries which topped the economics list fell to the bottom here, including Russia, Saudi Arabia, and the UAE.  Topping of the list was Thailand, followed by Canada and Bahrain.  The economically struggling European countries ranked in the upper-middle, except for the UK which ranked low in every area besides entertainment.  The US finished in the lower-middle, and the BRIC and Middle Eastern countries proved to be the hardest to get set up in for new expats.

The third and final survey related to the ease and safety of raising a child as an expat in certain countries.  Belgium was ranked as the best place to raise children overall, with Spain close behind, followed by France, Hong Kong, and Germany.  At the bottom of the list is the UK, which scored last in every criterion for this study except integration (in which it scored second to last) and the USA finished right in front of the UK at the bottom of the list.  Overall, 66 percent of parents believed that their child’s safety had improved, and 81 percent said that their new home country had a higher standard of education that their old country.  Expats also reported feeling a heightened sense of community for their children when abroad; most likely because small groups of expats often stick together in a foreign country. 

After doing my own analysis, it looks like Canada and Spain may be the best place for expats concerned less with money and more with quality of life for themselves and their children, with Canada ranking 18^th in economics, 2^nd in quality, and 6^th in offspring, and Spain ranking 22^nd, 4^th, and 2^nd.  Other notable countries include Bahrain which ranked 3^rd in the first two categories but didn’t have enough data to make the offspring chart, and Bermuda, with ranked 6^th and 5^th in the first two but also didn’t have enough data for the third.  Hong Kong and Australia were also well ranked all around, with rankings of 9^th, 13^th, and 4^th (HK) and 16^th, 8^th, and 7^th (AU).

Have anything to add/any tips to being an expat in whatever country you are currently living?  Please discuss in our comments section below!

Expat Economics

According to the HBSC expat survey, two thirds (66%) of expats report that since moving away from their country of origin, they have achieved more disposable income.

This holds true because they know that their talents and strengths are almost always just as, if not more marketable elsewhere. One hundred percent of expats in Bahrain agree that they have more disposable income than they did previously.  The numbers are also extremely high in Bermuda (96%) and Qatar and Saudi Arabia (92%)

In addition to spreading their talents in other countries for a higher salary, it is often the case that the cost of living is cheaper too, resulting in more disposable income.  Those who relocate for a specific job are often given free housing, as well.  Twenty percent of expats have reported that they are able to pay off more debt than when they lived in their original country.

Not all expats are in the financial or business sector.  Many college students go abroad to teach post-grad.  There are huge hubs of them in South Korea and Japan.  It’s a great way to live for cheap and earn a lot of money to save up for the next move or to pay off student loans, especially since finding a job in the United States is looking more and more bleak. 

Whether looking for more financial stability, a way to pay off debt, or just a way to experience a new culture, expats seem to be quite happy with their decision.

If you’re an expat, speak up!  Tell us about your experience.