Bumper bonuses, hefty salaries make UAE Top-10 expat destination

The UAE has been ranked the ninth best place in the world to set up a home thanks to high salaries, generous benefits packages, and a greater quality of life in the country.

HSBC’s latest Expat Explorer 2015 survey puts the UAE in a bright spot despite global employment growth stalling at 1.4 per cent, according to the International Labour Organisation.

The survey shows that expats continue to flock to the country due to the better job prospects and higher salaries on offer.

More than half (53 per cent) of expats surveyed say that the UAE is a good place to advance a career – compared to the global average of 41 per cent – while a large number also believe it is a good place to acquire new skills (47 per cent).

A previous study by LinkedIn, which boasts of more than 380 million members around the world, also showed that the UAE remains the most popular destination for professionals beating other job markets like Canada, Australia and Singapore.

Another research by health benefits provider Aetna International showed that Dubai is attracting a growing interest from Americans alone, and the emirate has recently overtaken London as the most popular destination for US citizens looking for jobs abroad.

The latest HSBC survey also singles out the country for the opportunities it offers to those seeking to start their own businesses, with Dubai being chosen as the second best city globally for expat entrepreneurs.

Expat entrepreneurs are being drawn to the world’s financial hubs, with a vast majority saying that Singapore (87 per cent), Dubai (86 per cent), Hong Kong and London (both 85 per cent) are good places to start a business, far outpacing the global average of 56 per cent.

These cities provide the ideal foundations for ambitious entrepreneurial expats due to the good business conditions, world-class infrastructure, and work/life balance they offer.

A high level of confidence in the local economy is another reason that makes these cities attractive, with 56 per cent of expats in Dubai citing this sentiment, while over two-thirds (68 per cent) maintain that the emirate also offers political stability.

These attitudes appear to be well founded as the UAE ranks 22nd globally out of 189 countries in The World Bank’s Ease of Doing Business index, scoring well in areas such as paying taxes, trading across borders, dealing with construction permits and registering property.

“Given these supportive conditions, it’s not surprising that Dubai attracts twice as many expats looking to start their own businesses (9 per cent) compared to the global average (4 per cent).

"This is a ringing endorsement of the government’s diversification efforts and its investment in setting up the infrastructure needed to nurture entrepreneurs,” said Khalid Elgibali, Head of Retail Banking & Wealth Management, UAE and Mena, HSBC Bank Middle East.

“On the whole, the UAE continues to be a popular choice for expats as three in five (60 per cent) feel their overall quality of life is better here.

"This validation from expats shows that the country is one of the best destinations globally for those looking to move abroad to make a better life for themselves and their families,” Elgibali added.
The HSBC survey examined the responses of 21,950 expats from across the world, and 2,000 in the UAE, to assess their views towards life in their host countries.

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