Middle East still a hub for ambitious young expats

The results of the HSBC Bank’s Expat Explorer Survey include indications that Middle Eastern countries still offer a solid economic outlook and the chance of career success.

Although the survey’s results suggest economic strain is still felt by expats everywhere, those based in the Middle East are positive about the region’s economy. 90 per cent of expats in Oman, 89 per cent in Qatar and 83 per cent in Saudi Arabia stated they were satisfied with economic conditions, as against a total of 59 per cent across the rest of the globe.

Middle Eastern nations draw expat workers due to the minimal effect of the economic crisis on the oil-rich states and for the job opportunities offered. In comparison with expat workers elsewhere, Salaries and benefits are higher, with 77 per cent of the survey’s respondents headed for Qatar, 76 per cent to Saudi Arabia and 65 per cent to the UAE.

The region especially appeals to younger expats between the ages of 18 and 30, with 46 per cent of this group favouring Saudi Arabia against 8 per cent of those over 55. This is in stark contrast to expats’ choices in the rest of the world, where 22 per cent are over 55 and 32 per cent are aged between 18 and 30.

However, in spite of the advantages, the survey shows that a high number of expats in the region are looking to change countries or return to their home country. In Saudi Arabia, 34 per cent of expats are researching other postings, with the numbers at 30 per cent for Qatar and 29 per cent for Oman.

It seems that expats living and working in the Middle East have stronger connections to their home countries than do those elsewhere in the world, with the trend strongest in Saudi Arabia, but noticeable in Bahrain, Kuwait, Oman and Qatar. The bond is linked to family needs as much as it is to simply wanting a change of scenery, although the region’s rising living costs are playing a part.