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Gulf's expats are living the high life
Gulf's expats are living the high life


Russia, Saudi Arabia and Bahrain are home to the wealthiest expats, with Eurozone countries falling behind when it comes to 

paying for foreign expertise, according to a new survey of expats. 

The third annual report commissioned by HSBC Bank International found finances among expats were generally positive with two-thirds, or 66 per cent, saying they have more disposable income to save and invest since moving abroad. 

But the survey found expats in Russia, Saudi Arabia, Bahrain, the UAE and Singapore enjoyed the greatest wealth overall, having higher salaries, more disposable income and more luxury items such as swimming pools, properties and yachts. 

Expats in Russia topped the list for the second consecutive years with a third, or 36 per cent, reporting earnings of more than $250,000 a year - compared to two-thirds, or 62 per cent, of expats in Spain earning below $60,000. 

HSBC spokeswoman Lisa Wood said the survey, conducted by research company GfK, showed the wealth gap was widening between the east and west, with expats in emerging economies leaving their counterparts in the Eurozone behind. 

“The BRIC (Brazil, Russia, India, China) economies have fared well over the last year and as a result we’ve seen that these expat locations are particularly strong when it comes to expat finances,” Wood said. 

“Eurozone countries were the worst-performing when looking at purely financial criteria and all featured in the bottom quartile of our table.” 

The Expat Economic survey, part of HSBC’s Expat Explorer Survey of 4,100 expats from 100 countries, ranked 25 countries on scores linked to annual income, monthly disposable income and a measure of defined luxuries. 

When it came to salaries, Russia topped this table followed by Singapore and Bermuda. The UAE was eighth.




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About Dubai, United Arab Emirates
Dubai (دبي) is one of the seven emirates that make up the United Arab Emirates. It is rather like an independent city-state and is the most modern and progressive emirate in the UAE.

A relatively new tourist destination, Dubai has gained in popularity in recent years. It is essentially a desert city with superb infrastructure, liberal policies (by regional standards), and excellent tourist amenities. Just 5 hrs from Europe and 3 hrs from most parts of the Middle East, the Near East, and the sub-continent of India, Dubai makes a great short break for shopping, partying, sunbathing, fine dining, sporting events, and even a few sinful pleasures. It is a city of superlatives: for the fastest, biggest, tallest, largest and highest, Dubai is the destination.

The weekly day off is on Friday. Note that, since September 2006, a harmonised weekend of Friday and Saturday has been adopted for the public sector and schools. Government departments, multi-national companies, and most schools and universities are now off on Friday and Saturday (after years of a mixed bag of Friday/Saturday and Thursday/Friday weekends). Some local companies still work a half day on Thursday with a full-day on Saturday.


 
 
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