HSBC has published the results of its 14th annual Expat Explorer study – a global survey of more than 20,000 people who live and work abroad – which indicates that 65% of expats feel optimistic about the year ahead despite the volatility of the past 18 months.
The key reason for the optimism is expats' hope of living ‘normally’ again (75%), with 61% also feeling positive about 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%).
Country rankings
Overall in the study, which is managed by Channel Islands-based HSBC Expat, the Crown Dependencies have risen up the rankings of places to live and work this year into the top 10, with Guernsey fifth, Jersey sixth and the Isle of Man seventh:
1. Switzerland
2. Australia
3. New Zealand
4. UAE
5. Guernsey
6. Jersey
7. Isle of Man
8. Bahrain
9. Singapore
10. Qatar
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 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.
New priorities
The findings suggest expats are prioritising personal lifestyle choices rather than traditional relocation drivers such as career progression (34%) or expanding their professional network (31%).
The top five goals that expats are hoping to achieve 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%)
The study also highlights some of the challenges that expats have faced during the pandemic – 63% have been stopped from travelling abroad for business, 90% were unable to see family or friends in their home countries.
Yet it also points to the resilience of the global expat community – 42% say they were able to continue to manage their physical health and 36% continued to spend time outside.
• For more information about the survey findings click here