British expats choose Far East to emigrate

As reported by Expatriate Health Care, British expats are paying more attention to the Far East due to booming economies in nations such as Singapore and China.

This is one of the conclusions from the new Quality of Life Index by NatWest International Personal Banking. The index indicated that higher salaries, better economic prospects and more favourable tax requirements are all luring Britons to procure expat insurance before heading to Far East countries.

The amount of expats working in Singapore and China has gone up 18% over the last five years, while those moving to Western Europe decreased by 27% during the same period.

Singapore was deemed a leading destination for expatriates in the most recent HSBC Expat Explorer survey, topped by Australia. There were 3,385 individuals from more than 100 nations polled.

Dave Isley, Director of NatWest International Personal Banking, said the shift reveals the "changing global environment” in which we live. As firms expand their operations into international markets, they must be able to identify leaders who can shift seamlessly between the different markets and cultures, he explained.

The amount of people working overseas on temporary assignments has gone up from 32% to 43% over the last half decade, which reveals that expats are making overseas employment fit with their lifestyles, added Isley.