An annual global survey of over 20,000 people has revealed the top locations for expats to accelerate their careers and achieve their professional goals, with Jersey and the Isle of Man featuring in the top ten locations for, respectively, career progression and starting a new business.
Overall, HSBC’s 14th annual Expat Explorer study indicates that expats are feeling optimistic about their careers overseas. Many still aspire to relocate abroad for work, and the pandemic hasn’t changed their ambition – 8 in 10 expats (80%) say they intend to continue living in their host location for the next year at least, with only 7% planning to move back home.
A third (33%) of expats, meanwhile, are now optimistic about living in their host location for the next 12 months because of the career opportunities available to them and the same amount (33%) would recommend moving abroad in the next year to increase earnings.
In terms of career progression, expats identified the following as the top ten locations, with Jersey placing joint-fourth:
Meanwhile, the study also places the Isle of Man in the top ten locations for setting up a new business, with almost a fifth of expats (19%) saying that living in their new host location will help them start/develop a new business. The top locations for entrepreneurial expats to start their own business are as follows:
8. Isle of Man
=8. Mainland China
Other key findings from the survey include that:
- Many expats are prioritising their wellbeing and balanced working approaches – such as flexible working (68%) and shared parental leave (50%). This compares against traditional factors such as improved earnings (23%) and promotions (25%).
- Nearly 7 in 10 (68%) expats see flexible working as an important factor when thinking about their host location. Expats located in Jersey (85%) feel that flexible working is one of their most important benefits.
Cameron Senior, Interim Head of HSBC Expat, said: “As the world begins to open up, our study highlights how global mobility has not diminished – with borders reopening in several locations, expats are looking forward to exciting opportunities in the year ahead, so they can continue exploring and accelerating their careers.
“With the new year often representing a time for setting new life and professional goals, these findings underline the high esteem with which the Isle of Man and Jersey are held by expats and reinforce their reputation on the global stage as locations for supporting expats.”
At the end of last year, HSBC’s Expat Explorer survey found that overall, Guernsey, Jersey and the Isle of Man ranked in the top ten locations globally for expats to live and work, with Guernsey in 5th, Jersey in 6th and the Isle of Man in 7th.
For more information about the findings, visit: www.expat.hsbc.com/expat-explorer-results/.
- Globally, across the three main sections that the Expat Explorer study measured in 2021 (Living, Aspiring and Future Outlook) expats ranked the following locations as the top 10 places to live and work in 2021:
- New Zealand
- Isle of Man