In HSBC’s latest Expat Explorer Report, the company reveals some interesting insights into expat life, and expat perceptions of various countries around the world.
The Expat Explorer Survey is aimed at providing people with information when they aren’t sure where they want to move, are trying to decide between a few countries, and want to compare their home country to those in which they’re interested. To view the Survey’s results table, click here.
In the 2019 Survey, the top ranking countries were as follows:
- Switzerland
- Singapore
- Canada
- Spain
- New Zealand
- Australia
- Turkey
- Germany
- United Arab Emirates
- Vietnam
The countries were ranked according to criteria across 3 categories; Living (well-being and society), Aspiring (finances and ambition), and Little Expats (child-related factors).
Switzerland takes top position
Switzerland ranked highest overall, and has secured a position in the top 10 every year since 2011. An impressive 82% of expats in Switzerland have seen an improvement in their quality of life compared to their home country, with its stunning scenery a major contributing factor. Expats also praise Switzerland’s low levels of pollution, with 70% noting cleaner and more pleasant surroundings than they were used to at home. This is far higher than the global average with only 40% of all expats saying the same. Enhanced well-being doesn’t stop there. Home to Geneva, the City of Peace, Switzerland is renowned for its low crime rates and safe streets. Two-thirds (67%) of expats feel more secure there than in their home country.
Financial factors are where Switzerland continues to excel. Higher levels of disposable income are reported by 71% of expats, contributing to an average expat salary of $111,587, well above the global mean of $75,966. Expats also note the country’s remarkable levels of political and economic stability. In a year where almost half of expats globally (49%) are concerned about their country’s economic situation, only 20% in Switzerland have any such reservations, and 86% are relaxed about the country’s political status.
Expat life exceeds expectations for young professionals
Those who make the move abroad before their 35th birthday see the biggest boost in their pay packet and career potential, compared to older workers, leading to greater fulfillment and a securer financial future.
Almost half (47%) of young expats move abroad to further their career, and they are very much reaping the rewards. The majority (55%) become more confident while abroad, while more than seven in 10 (71%) learn new skills. They are also more likely to benefit from quicker promotions or move into a new career path entirely – with one in 10 even starting their own business after moving country.
Moving abroad early can also be the key to unlocking higher earnings. Four-fifths (80%) of young people aged under 35 years increase their earnings abroad. Expat Millennials can expect to see their income jump by over a third (35%), from an average global annual salary of $40,000 to just under $55,000. In comparison, for 35 to 54-year-olds, earnings increase by just under a quarter (24%), while the over 55s see a 9% increase.
With this increased windfall meaning more disposable income in the short-term, our data shows that Millennials are also thinking long-term. These expats told us home ownership was their top financial priority, with 45% of under 35s already on the property ladder.
Popular destinations for Millenials include Hong Kong, the USA, the UK, and Poland.
Tips from HSBC
The company notes that it is important to get ahead with as much admin as possible before departing. This includes not only organizing visas and sorting out financial matters and budgets, but also planning school applications and arranging healthcare services.
HSBC also suggests using the local language of your new home as soon as possible, and immersing yourself in the local culture, can allow you to develop a strong social circle and help you settle in faster. Joining interest-based clubs is one way to achieve this.
For information as to how Relocation Africa can help you with your Mobility, Immigration, Research, Remuneration, and Expat Tax needs, email marketing@relocationafrica.com, or call us on +27 21 763 4240.
Sources: [1], [2]. Image sources: [1], [2].
South African Home Affairs Implements Visa Waivers for Top Tourist Countries
The Minister of Home Affairs Dr Aaron Motsoaledi is pleased to announce that nationals from four of the seven countries he granted visa-free status during his Budget Vote speech will be able to travel to South Africa without visas from today.
He said the Department would implement visa waivers for Ghana, Cuba and Principe and Sao Tome after negotiations with these countries have been concluded. The Department is scheduled to complete these negotiations by the end of August 2019 and the implementation will follow soon thereafter.
“As from today, 15 August 2019, travelers from Qatar, Saudi Arabia, United Arab Emirates and New Zealand will no longer require a visa to visit South Africa for holidays, conferencing and business meeting visits. We took this decision unilaterally but we are engaging these countries to see how they can relax entry requirements for our citizens. I am glad to say that Qatar has already waived visa requirements for South Africans and this will enable our people to attend Qatar FIFA World Cup 2022 easier,” said Minister Motsoaledi.
The Department of Home Affairs is continuously reviewing its operations to contribute in growing the economy, facilitating the creation of jobs and securing our borders.
“The Department of Home Affairs has an important contribution to make in growing tourism and by extension growing the economy and creating jobs. We are constantly reviewing our operations to ensure that we relax entry requirements without compromising our responsibility towards the safety and security of our citizens,” said Motsoaledi.
Already, South Africa has waived the visa requirement for 82 of the 193 countries who are members of the United Nations. Eighteen of the countries enjoying a visa free status in South Africa are on the continent with all Southern African Development Community countries enjoying this status, except for the Democratic Republic of Congo.
These countries which are enjoying the visa free status are among the nations which account for the majority of the international tourist sending states on the continent, Europe and the Americas.
“The Department has already sent directives to ports of entry, airlines and our missions abroad informing them of the removal of visa requirements for nationals of these countries who wish to visit our beautiful country for tourism or business meetings,” said Minister Motsoaledi.
For information as to how Relocation Africa can help you with your Mobility, Immigration, Research, Remuneration, and Expat Tax needs, email marketing@relocationafrica.com, or call us on +27 21 763 4240.
Sources: SA Department of Home Affairs [1], [2]. Image sources: [1], [2].
New UK Fast-Track Visa for STEM Field Applicants Announced
The UK Government intends to create a fast-track visa for persons with skills in Science, Technology, Engineering and Mathematics (STEM).
According to immigration consultants Breytenbachs, the reasoning behind this move is to attract the world’s top scientists and researchers to the UK.
“The UK Government said in its announcement that it is hoping that by introducing this visa it enhance the intellectual and knowledge base of the UK,” the group said.
“The launching of this new immigration route is indeed very good news for scientist and researchers looking to work in the UK.”
Breytenbachs said that the route will be open to all nationalities, irrespective of whether they are EU or non-EU citizens.
Opportunities for South Africans
Breytenbachs said that this new immigration route will create many opportunities for professionals in STEM.
“The new fast-track visa will offer great opportunities for individuals who qualify under this immigration route,” it said.
“Persons who apply successfully will receive a three-year visa. During their stay in the UK they can come and go from the UK at will. They will also qualify for Indefinite Leave to Remain in the UK, after only three years.
“Dependents of the main visa holder will be able to join the main holder in the UK. Adult dependents will be able to work in the UK without any restriction.”
Another major advantage of this new visa route, is that this new visas will have no minimum salary requirement or minimum salary threshold. There is also no need for applicants to secure a job before arriving in the UK.
Breytenbachs said that new fast-track visa will open during the later in 2019.
For information as to how Relocation Africa can help you with your Mobility, Immigration, Research, Remuneration, and Expat Tax needs, email marketing@relocationafrica.com, or call us on +27 21 763 4240.
Sources: [1], [2]. Image sources: [1], [2].
Doctors May Be Leaving South Africa Ahead of New National Health Insurance (NHI) System
The incoming NHI will rely on a large network of doctors to service patients around the country, with government promising ‘universal health coverage’.
However, the Sunday Times reports that the bill has renewed fears about mass emigration of doctors and other health professionals, which would kill any health plan that relies explicitly on there being more doctors.
Speaking to the paper, Dr Chris Archer, CEO of the South African Private Practitioners Forum said that his members are extremely concerned and that the bill may drive emigration as “those who want to leave see it as a reason to do so”.
Profmed medical aid CEO Craig Comrie said that health professionals are already emigrating.
Comrie said Profmed’s members are mainly health professionals, of whom 17% leave each year. This rose to 30% in June and July.
Alex van den Heever, Wits School of Governance professor, added that he expects medical professionals to emigrate in their hundreds, joining their countrymen in countries like Dubai and Australia.
Research
These concerns align with research published by Solidarity, which has previously warned that the introduction of the NHI could lead to a mass exodus of doctors from the country.
One of the most worrying findings in the survey was that 83.2% of healthcare workers believed that private health professionals will leave the country if the NHI is implemented. 43% of the respondents said that they themselves would consider emigrating.
There was also a firm belief that the scheme would completely destabilize the country’s healthcare as a result.
The major points of concern are:
For information as to how Relocation Africa can help you with your Mobility, Immigration, Research, Remuneration, and Expat Tax needs, email marketing@relocationafrica.com, or call us on +27 21 763 4240.
Sources: [1], [2]. Image sources: [1], [2].
HSBC’s Expat Explorer Report 2019 Reveals Interesting Expat Insights
In HSBC’s latest Expat Explorer Report, the company reveals some interesting insights into expat life, and expat perceptions of various countries around the world.
The Expat Explorer Survey is aimed at providing people with information when they aren’t sure where they want to move, are trying to decide between a few countries, and want to compare their home country to those in which they’re interested. To view the Survey’s results table, click here.
In the 2019 Survey, the top ranking countries were as follows:
The countries were ranked according to criteria across 3 categories; Living (well-being and society), Aspiring (finances and ambition), and Little Expats (child-related factors).
Switzerland takes top position
Switzerland ranked highest overall, and has secured a position in the top 10 every year since 2011. An impressive 82% of expats in Switzerland have seen an improvement in their quality of life compared to their home country, with its stunning scenery a major contributing factor. Expats also praise Switzerland’s low levels of pollution, with 70% noting cleaner and more pleasant surroundings than they were used to at home. This is far higher than the global average with only 40% of all expats saying the same. Enhanced well-being doesn’t stop there. Home to Geneva, the City of Peace, Switzerland is renowned for its low crime rates and safe streets. Two-thirds (67%) of expats feel more secure there than in their home country.
Financial factors are where Switzerland continues to excel. Higher levels of disposable income are reported by 71% of expats, contributing to an average expat salary of $111,587, well above the global mean of $75,966. Expats also note the country’s remarkable levels of political and economic stability. In a year where almost half of expats globally (49%) are concerned about their country’s economic situation, only 20% in Switzerland have any such reservations, and 86% are relaxed about the country’s political status.
Expat life exceeds expectations for young professionals
Those who make the move abroad before their 35th birthday see the biggest boost in their pay packet and career potential, compared to older workers, leading to greater fulfillment and a securer financial future.
Almost half (47%) of young expats move abroad to further their career, and they are very much reaping the rewards. The majority (55%) become more confident while abroad, while more than seven in 10 (71%) learn new skills. They are also more likely to benefit from quicker promotions or move into a new career path entirely – with one in 10 even starting their own business after moving country.
Moving abroad early can also be the key to unlocking higher earnings. Four-fifths (80%) of young people aged under 35 years increase their earnings abroad. Expat Millennials can expect to see their income jump by over a third (35%), from an average global annual salary of $40,000 to just under $55,000. In comparison, for 35 to 54-year-olds, earnings increase by just under a quarter (24%), while the over 55s see a 9% increase.
With this increased windfall meaning more disposable income in the short-term, our data shows that Millennials are also thinking long-term. These expats told us home ownership was their top financial priority, with 45% of under 35s already on the property ladder.
Popular destinations for Millenials include Hong Kong, the USA, the UK, and Poland.
Tips from HSBC
The company notes that it is important to get ahead with as much admin as possible before departing. This includes not only organizing visas and sorting out financial matters and budgets, but also planning school applications and arranging healthcare services.
HSBC also suggests using the local language of your new home as soon as possible, and immersing yourself in the local culture, can allow you to develop a strong social circle and help you settle in faster. Joining interest-based clubs is one way to achieve this.
For information as to how Relocation Africa can help you with your Mobility, Immigration, Research, Remuneration, and Expat Tax needs, email marketing@relocationafrica.com, or call us on +27 21 763 4240.
Sources: [1], [2]. Image sources: [1], [2].