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82% of expats are optimistic that life in the UAE will return to normal in the next 12 months
A new study shows that the UAE has risen 10 places and is ranked fourth among the most suitable countries to live and work in the world.
Switzerland, Australia and New Zealand ranked first, second and third respectively.
According to HSBC’s 14th annual Expat Explorer study-a global survey of more than 20,000 people living and working abroad-the vast majority of expats surveyed in the UAE (82%) are Become more stable and normal again and feel optimistic for 12 months.
Despite the global pandemic, these results are still well above the global average of 35%, and 53% of UAE respondents also expect their income to increase and work-life balance to be better (57%). In the Gulf Cooperation Council, Bahrain and Qatar ranked eighth and tenth respectively.
“The UAE ranks among the top five most suitable places to live and work in the world, which is encouraging and clearly demonstrates the great potential to promote the country’s economic development. When we opened on October 12, 1946, we saw that as a place The potential of the first and only bank, and since then we have been investing to support the country and our customers in opening up a world full of opportunities,” said Abdulfattah Sharaf, HSBC UAE CEO and International Head.
He added: “The connectivity of the economy combined with the scale of its vision has transformed it from small-scale fisheries and Pearl Harbor in the 1940s to today’s global center of trade, logistics, shipping, aviation, commerce and finance.”
“The country’s focus on innovation, infrastructure, quality of life, diversity and inclusiveness has made it the preferred destination for businesses and professionals seeking development and prosperity.”
Economy and quality of life
Research shows that the progress of the UAE is very attractive to many people who call the UAE their home. The three reasons why foreigners choose to move to the UAE are: increasing income (56%), developing a career (49%) and improving the quality of life (43%).
The quality of life provided by the UAE allows expats to stay longer than expected. Most expats in the UAE (86%) stated that their overall quality of life is better than that of their home country, so 6 out of 10 people plan to stay longer. It said that only 11% said that the pandemic changed their plans to stay in the UAE.
Abdul Fatah said: “The overwhelming optimism of expats in the UAE over the next 12 months reflects the authorities’ rapid response to addressing the social and economic impact of the pandemic.”
He added: “The UAE’s apparent attractiveness to entrepreneurs and high-net-worth individuals has driven our own business decisions to support economic recovery. We have pledged to provide US$5 billion in loans to support powerful companies in the UAE through our UAE The growth plan is developed globally, and we have invested in our wealth management business to expand our private bank in the Abu Dhabi global market. This is part of our plan to double our assets under management in the next three years. “
Culture and safety
In addition to a better quality of life, 80% of respondents said that their children are more aware and open to the different cultures and experiences of the UAE.
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>> Dubai ranks fifth best city in the world
The UAE is currently hosting the 2020 World Expo, an international festival held in a new city every five years to showcase the ideas and innovations that will shape our world. It is expected that as many as 25 million people will visit during the six-month operation. .
“The UAE’s open attitude towards multiculturalism and perspectives is a key attraction for expats who wish to make their home country home. Expo 2020 is the largest global event in the Arab world, with more than 190 countries participating. This commitment to diversity and openness is brought to the global stage,” Abdul Fatah said.
Danusha Gukulan
Dhanusha Gokulan is from India and has been working as a journalist for more than ten years. For Khaleej Times, she reports on NRI affairs, civil aviation and immigration issues. She received a bachelor’s degree in journalism, economics and English literature from Mangalore University in 2008, and is currently pursuing a master’s degree in contemporary media leadership and innovation at the American University in Dubai. In her spare time, she gets involved in singing/song writing, loves food, and is the mother of an over-enthusiastic Labrador Retriever. On her Twitter @shootsprintrite.
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