Qatar among ‘top 10 countries in the world for expat satisfaction’

Qatar figures among the “top 10 countries in the world for expat satisfaction” in a new global survey.

The survey,  undertaken by HSBC, also shows that expatriates in the GCC are among the most satisfied with the state of their local economies compared to individuals in other regions around the world.

Four countries in the GCC,  Oman (1st), Qatar (6th), UAE (9th) and Saudi Arabia (10th), are among the top 10 economies in terms of expat satisfaction, according to HSBC’s Expat Explorer 2013 survey.

The survey that covered more than 7,000 respondents across 37 countries assesses expat attitudes towards their host countries. The study measures these responses across a range of factors, including financial incentives, quality of life, ease of raising children and the cost of living.

The survey  reveals that strong economic growth has seen expats in the region improve their finances further while planning for their senior years, with nearly half (47%) making changes to fulfil this goal compared to the global average (34%).

Indicative of the strong growth potential of the region is that economies in the GCC are expected to grow at 4.4% over this year.  

The GCC also appears to have a more stable political climate in comparison to global sentiments. Oman (58%) and the UAE (52%) are perceived to be among the most politically stable in the region, more than the global average of 35%.

A greater percentage of expats in most of the GCC countries  feel that they have higher personal security than the global average (40%), with Qatar (69%) and the UAE (63%) showing the highest sentiments in this regard. 

These are a few of the factors that distinguish the Middle East as one of the regions that has drawn the highest percentage of expats, growing from 13% to close to 25% between 2000 and 2010, the survey points out.

This trend looks set to continue as expats in Qatar (63%), Oman (63%) and the UAE (59%) believe their “host countries are getting better”, compared to the global average of 32%.   

Francesca McDonagh, HSBC Bank Middle East head (Retail Banking and Wealth Management), said: “This year’s survey shows that the countries in the GCC are becoming increasingly attractive for expats. With growing opportunities for financial gain, an environment supportive of career aspirations and a safe place for raising children, the region offers expats a complete package for their lifestyles. As these economies continue to grow and the quality of living improves, the GCC will increasingly become a more popular expat destination.” 

Despite the positive sentiments of expats towards GCC countries, Asian markets appear to be the “most attractive” for young career-minded expats as well as international organisations.

Expats particularly distinguish the region for its potential for financial gain and quality of life. The survey shows that Asian expats are among the best paid in the world. Indonesia (1), China (3) and Malaysia (5) are among the top five countries where expats earn the highest income.

The high quality of life in Asia has also been identified by expats as one of the region’s defining factors with Thailand leading the list of countries for best expat experience.

Four other Asian countries – China (3), Singapore (6), India (7), Taiwan (8) – are in the list of destinations where expats enjoy the best quality of life.

Related to this is that first six countries that are the most cost effective to live in, according to expats, are in Asia. Thailand (1), Indonesia (2), Taiwan (3), India (4), Vietnam (5) and China (6) top the list of countries where expats have the highest disposable income. 

Dean Blackburn, head (HSBC Expat) HSBC, said: “Asia continues to be one of the most popular destinations for expats due to the high quality of life and low cost of living. With growing financial and career opportunities, we are seeing the region draw the younger generation of migrants.

“While Asia continues to be popular choice, this year’s survey has revealed that expats in the Middle East are most satisfied in the state of their host countries’ economies. This is particularly evident as the GCC has managed to remain averse to the volatility we have seen in markets around the world over the past year.”