So, what are the main attractions of the expat lifestyle? Typically expats benefit from regular travel, good compensation and excellent career development opportunities.
Currently the most popular destination for most British professionals is Asia Pacific.
The Asia Pacific region is experiencing economic growth and there are great opportunities available for talented individuals. If you’re considering a move abroad to seek a new lifestyle or “spring-board” your career, you must remember that you will be competing with local talent for roles. It’s important that you research locations, industries and companies to demonstrate your knowledge and enthusiasm to potential employers. Companies are looking for specialist, niche skill sets in order to fill their employment gaps – will their next hire be you?
It’s also important to be aware that local or “local plus” salary packages are what you can currently expect to be offered when looking to re-locate to China, Singapore or Hong Kong. This usually includes a local salary with a cash allowance for housing assistance, and placement in the local pension plan – but no other ‘plus’ elements. There may be exceptions for top tier senior professionals.
On the whole, many expats I speak with feel financially comfortable and believe they have made the right decision in moving abroad. A NatWest study published in 2010 found that 90% of expats reported an improvement in their quality of life since moving abroad, including an increase in their overall remuneration. They also claimed to have achieved a better work-life balance, with far more leisure time and comparatively less exhausting working hours.
Moving abroad is a big decision, but it’s a decision that could give you the opportunities in your career that you may not have access to normally. If you do your research and look at what you want from a career and from the country you move to, you could be on your way to a new destination sooner than you thought!