Abu Dhabi, UAE – The United Arab Emirates is the best country for expat lifestyle, according to a survey by the HSBC.
A total of 36 percent of the people surveyed said chances of having a better lifestyle is the main reason for relocating to the UAE, significantly higher than any other global market surveyed, reports said.
The survey further noted increased earnings (36 percent), family stability (34) making money go further (37 percent) and the option of living in a more sustainable environment (30 percent) are the reasons for the top rating of UAE.
Another reason for the survey was to find about the changes in people’s lives post pandemic which includes the changes in their financial lives. It also involves their aim for going overseas and issues at the adopted home.
While 53 percent of the respondents said they struggled in opening a bank account or in home utilities, 56 percent of the people reported that no local credit history was the reason for these issues. The same figures were recorded at 44 percent for the UAE.
Almost 51 percent people across all nine markets in total and in the UAE said they received no help to financially prepare during the entire process. Also, 74 percent of the respondents (70 percent globally) revealed they require guidance to understand taxing process during overseas investment.
Daniel Robinson, Head of Wealth and Personal Banking at HSBC UAE, was quoted as saying by reports that “The attractiveness of the UAE as a place to live has drawn people from all over the world. While moving anywhere internationally can be a challenge logistically, financially and personally, we see the UAE so highly rated among the categories that matter most to expats.”