Abu Dhabi – Mubasher: Countries in the GCC region rank the highest in the world when it comes to expats being able to own additional property as a result of moving, according to HSBC 's 2015 Expat Explorer survey.
With the region offering among the strongest wealth creation dynamics globally in terms of higher salaries, better work incentives, and a less complex environment to manage finances, expats have singled out the Gulf for the greater ability to save and the higher disposable incomes they enjoy since moving.
Now in its eighth year, the survey examined the responses of 21,950 expats from across the world to assess their views towards life in their host countries.[1] Countries in the GCC were highlighted by the greatest proportion of expats as the places to move to that offered the best financial incentives.
Buying a home is widely recognised by people as an important long-term life goal according to HSBC 's Future of Retirement research. It shows that working age people in the UAE have the highest degree of confidence in property as a good way to generate income for their retirement, with over 8 out of 10 (81%) identifying with this sentiment. [2]
In line with these attitudes, expats in the region have singled it out for the opportunities it offers to put them on the right financial footing to purchase property. Expats in Bahrain (30%), Saudi Arabia (27%), UAE and Oman (25%) are the most likely to identify with this sentiment, compared to the global average of 17%. These attitudes vary significantly across the world among expats in the UK (6%), India (24%) and the USA (19%), indicating that these views are closely linked to the wealth creation dynamics in countries, according to HSBC.
