New Research Shows Global Confidence Among Expats, as Nearly Two Thirds Feel Optimistic About the Next 12 Months
October 19 2021 - 4:31AM
Business Wire
- Study of 20,000+ expats reveals their global confidence to
live and work abroad has not diminished
- Majority (80%) of expats say they will continue living in
their host country for the next year at least
- Positive outlook fuelled by hope to live ‘normally’ again
(75%), and enjoy quality of life (61%)
- Expats rank Australia, Switzerland and Jersey among the most
stable places to live and work
The 14th annual Expat Explorer study - a global survey of over
20,000 people who live and work abroad - indicates that almost two
thirds (65%) of expats feel optimistic about the year ahead despite
the volatility of the past 18 months.
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HSBC Expat Explorer 2021 (Photo: Business
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The key reason driving optimism is their hope to live ‘normally’
again (75%), but six in ten (61%) are also feeling positive because
of the quality of life they will be able to enjoy. Expats in Taiwan
are the most optimistic (85%), closely followed by those in
Australia, New Zealand, and Vietnam (all 83%).
As the world has been in a state of flux during the pandemic,
the study suggests that locations where a sense of stability has
been maintained ranked highly. Nearly all expats based in
Australia, Switzerland, and Jersey (in the Channel Islands) would
recommend their location as a ‘stable’ place to live in the next 12
months - Australia (92%), Switzerland (92%), Jersey (90%).
Expats’ desire to live and work abroad has not been diminished
by the pandemic – the majority plan to stay in their host location
for the foreseeable future, with 80% intending to continue living
in their host country for the next year at least, and only 7%
planning to move.
The findings suggest expats are prioritising personal lifestyle
choices rather than traditional relocation drivers - such as career
progression (34%) or expanding professional network (31%). The top
five goals that expats look forward to achieving in the next 12
months are:
- Getting to know the local area (50%)
- Travelling (47%)
- Understanding and exploring local culture (47%)
- Making new friends (45%)
- Going out more (41%)
Over two thirds (67%) of expats also believe their quality of
life is better in their current location; those based in Indonesia
and UAE feel the most fulfilled - 51% say they feel a stronger
sense of fulfilment since moving there. Furthermore, globally, over
two in five (46%) expats feel that their host communities have
changed to be more supportive during the pandemic.
However, the study also highlights some of the challenges that
expats have faced during the pandemic. Over half (63%) have been
stopped from travelling abroad for business, and the majority (90%)
were unable to see family or friends in their home countries. Yet
it also points to the resilience of the global expat community, as
two in five (42%) say they were able to continue to manage their
physical health, and over a third (36%) continued to spend time
outside.
Cameron Senior, Interim Head of HSBC Expat, said:
"Despite incredibly challenging times, I am encouraged to see
sparks of optimism among global expats. Our study confirms that
expats continue to thrive in their host countries and many are
looking forward to remaining there for the foreseeable future.
Following many months of uncertainty, I’m heartened to hear how
expats are benefitting from relocating – over two-thirds told us
they feel their quality of life is better now, albeit with a lot of
changes.
“Despite their positivity, I’m very mindful of the disruption
they have experienced (which remains ongoing in certain locations)
including their ability to see family or friends in their home
countries, and travel for business. This reality puts their
optimism in even sharper focus, and makes me more determined to
fully support our expat customers as they navigate life away from
home.
“So much has changed for global expats but I’m impressed by
their resilience and optimism for the future. As the world begins
to adjust, HSBC Expat is committed to opening up a world of
opportunity for our customers who relocate overseas. We are
dedicated to offering support to help them navigate and succeed in
an increasingly globalised world.”
The study also shines light on expats’ financial lives, to gauge
their financial goals in 2021. Three fifths (60%) wish to save for
their retirement, almost a third are looking to build up an
emergency savings fund (31%) and saving to purchase a property
(30%). Over a fifth (23%) are saving or investing money for their
children’s education.
Overall, expats ranked the following locations as the top 10
places to live and work in 2021:
- Switzerland
- Australia
- New Zealand
- UAE
- Guernsey
- Jersey
- Isle of Man
- Bahrain
- Singapore
- Qatar
For more information about the findings, and HSBC Expat
products, visit: www.expat.hsbc.com/expat-explorer-results/
-Ends-
Notes to Editors
About Expat Explorer Expat Explorer is a comprehensive
and in-depth global survey of expats. The 2021 survey is HSBC’s
broadest look at expat living to date, with expats from 46
countries and territories sharing their views. YouGov surveyed
20,460 adults aged 18+ currently living away from their country of
origin/home country, in 143 countries, territories and markets,
through an online questionnaire between March and May 2021. A
minimum sample of 100 respondents was required for a location to
qualify for inclusion; this year, 46 locations qualified.
HSBC Holdings plc HSBC Holdings plc, the parent company
of HSBC, is headquartered in London. HSBC serves customers
worldwide from offices in 64 countries and territories in its
geographical regions: Europe, Asia, North America, Latin America,
and Middle East and North Africa. With assets of US$2,976bn at 30
June 2021, HSBC is one of the world’s largest banking and financial
services organisations.
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