The Middle East is emerging as an appealing destination for many young Britons, according to HSBC's latest Expat Explorer survey. The growing economy and more job opportunities are the main factors that attract people there, the report reveals.
British expats who have already found their second home in that part of the world seem to be confident with the current economy and the direction it’s heading in. For instance, nine in ten UK expats currently living in Oman confirm that they are satisfied. Britons in Qatar and Saudi Arabia are also content, with 89% and 83%, respectively, saying they are happy with the economy outlook. The United Arab Emirates and Kuwait follow, with 77% and 68%, according to data published on Expat Info Desk's website.
These figures compare to an average global satisfaction level of 59%, which is a clear indicator that Middle East countries can prove an attractive destination for young professionals and job seekers, mostly because of the comparatively high income and low taxes. Countries from the region also score well above the global average of 52% that report an increase in disposable income following their move, particularly in Qatar (67%), Bahrain (66%) and Oman (65%).
On the other hand, the report finds that more than a third of expats in Saudi Arabia, as well as 30% of those in Qatar and 29% of those in Oman, are considering moving. However, the majority of those are not put off by life there but rather they only intend to stay for a limited length of time before either returning to their home country or moving on to another expat posting.
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