The vast majority of expatriates working in the UAE have not been directly impacted by the financial crisis and have no plans to return home, according to the latest edition of the HSBC International Expat Explorer survey.
Just over 80 percent of expats surveyed in the country said that they had no active plans to their country of origin. Only one in 10 who thought the economy hadn’t improved was looking to return home.
This came despite 77 percent of expats saying that they thought the economic situation had deteriorated over the past year. A quarter also indicated that they thought their career prospects had also reduced.
On the other hand, expats rated the UAE fourth out of the countries surveyed in terms of luxury, with common perks for expats living in the UAE include more cars (63% in UAE vs. 29% overall), more exotic holidays (57% vs. 46%), nicer and larger properties (58% vs. 50%) and domestic help (57% vs 37%).
Furthermore, almost all (94 percent) of respondents said that they were paying less tax in the UAE than in their country of origin.
Higher salaries are also prevalent in the country, with the UAE ranking sixth on the HSBC Wealth Hotspot chart. Just fewer than 80 percent said they had saved more since becoming an expat compared to the worldwide average of 61%.
In a league table showing the best places for expats’ finances, Saudi Arabia came second, just behind Russia, with Bahrain in third and the UAE in fourth. Qatar was placed last of the four GCC countries, at a still-creditable seventh.
Compared to last year’s survey, Qatar was the biggest loser, dropping five places from second in 2009. Saudi Arabia moved up one place from third to second.
The UAE also pushed up one place from fifth to fourth. Bahrain rose an impressive five places from eighth to third.
Now in its third year, the Expat Explorer survey spoke to 4,127 expats from over 100 countries worldwide.
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