The UAE is the 4th best country in the world to live and work according to HSBC’s 14th annual Expat Explorer study — a global survey of over 20,000 people who live and work abroad. The UAE climbed 10 places to the rank.
The vast majority of expats surveyed in the UAE (82%) feel optimistic that life will be more stable and normal again in the next 12 months despite the global pandemic, far above the 35% global average, with (53%) of UAE respondents also expecting an increase in their income and a better work life balance (57%).
These findings are published the same year that HSBC celebrates 75 years of doing business in the UAE and that the nation celebrates its own Golden Jubilee.
“United Arab Emirates ranked among top five places to live and work in the world it is a source of inspiration and a clear indication of the enormous potential that drives the economy of this country.
We saw this potential as the first and only bank here when we first opened our doors for business on October 12, 1946, and since then we have invested, supporting the country and our own customers to open up a world of opportunity,
”said Abdulfattah Sharaf, CEO of HSBC UAE and Head of “The connectivity of the economy combined with the scale of her vision has transformed her from a small fishing and pearl port in the 1940s into a hub of world trade, logistics, shipping, aviation, business and finance today.
The country’s focus on innovation, infrastructure, quality of life, diversity and inclusion has made it the destination of choice for businesses and professionals looking to grow and prosper, ”added Abdulfattah.
Economics and quality of life
The UAE’s progress has been appealing to many who have made the UAE their home.The top three reasons cited by expats for choosing to move to the United Arab Emirates are:improve their income (56%), advance their careers (49%) and improve their quality of life (43%).The quality of life offered in the UAE is what makes expats stay longer than expected.Most expats in the UAE (86%) say their overall quality of life is better than in their home country and six in 10 intend to stay longer for this reason.Only 11% say the pandemic has changed their plans to stay in the United Arab Emirates.
“The overwhelming sense of optimism among expats in the UAE for the next 12 months is revealing the rapid response of the authorities to deal with the social and economic impact of the pandemic,
”said Abdulfattah.“The UAE’s clear appeal to entrepreneurs and high net worth individuals has guided our business decisions that will support the recovery.We committed $ 5 billion in loans to help strong UAE businesses grow globally with ours UAE Growth Initiative and we have invested in our wealth management business, expanding our private bank in Abu Dhabi Global Market as part of our plan to double our assets under management over the next three years, ”added Abdulfattah.Culture and safety In addition to a better quality of life, 80% of respondents said that the Children are more conscious and open to different cultures and experiences in the United Arab Emirates.The UAE is currently hosting Expo 2020, the festival of internationalism held in a new city every five years for showcase ideas and innovations that will shape our world, with no less than 25 million visits expected during its six months.
“The opening of the United Arab Emirates in different cultures and opinions is a fundamental attraction for expatriates trying to make the country at home.Expo 2020, the largest global event in the Arab world with more than 190 participating countries,brings this commitment to diversity and openness to the global stage, ”said Abdulfattah.