HSBC Expat, which is headquartered in Jersey, has published the eleventh iteration of a major annual global survey. Looking at the issues impacting expats living and working in all corners of the world, the data also highlights work-life balance and experiences that expats enjoy in the Channel Islands and Isle of Man.
‘Expat Explorer’ is the world’s longest running and largest annual survey of expat life, and aims to provide insights and guidance to anyone who might be interested in living or working abroad.
The survey canvassed the views of more than 22,000 expats from 163 countries, asking a set of 27 questions spanning economics, experience, and family data to comprehensively reflect the reality of the life in these countries from an expat perspective.
The report this year shows that Singapore was voted the best place for expats for the fourth year running, followed by New Zealand and Germany. It also highlights that the top reasons expats move abroad are career progression (35%), to improve quality of life (34%) and to challenge themselves (28%).
With the methodology requiring at least 100 respondents from each country, figures from Guernsey, Jersey and the Isle of Man were incorporated into the UK data for the overall report. However, by combining just the responses from the islands and treating them as one jurisdiction, the Bank has the following insights specifically for the Channel Islands and Isle of Man:
- Work: Expats in the Channel Islands and Isle of Man enjoy lower than average commuting times and a work-life balance that smashes the global average.
- Expats on the Channel Islands and Isle of Man have an easy commute, with 82% saying the time it takes them to get to work has been reduced since moving there – only 38% of expats worldwide have this luxury
- 77% of expats on the Channel Islands and Isle of Man state that the work-life balance is better, while the global average is 51%
- Expat experience: HSBC’s data shows that it is a hugely positive experience as well, with high safety and security, and a better environment making the Channel Islands and Isle of Man seem like the perfect place for newbie expats.
- 88% of expats in the Channel Islands and Isle of Man state that they feel safer and more secure there than they did at home, this is well above the global average amongst expats of 46% saying they feel safer in their new home country
- 73% of expats on the Channel Islands and Isle of Man agree that the environment, including air pollution and water quality, is better than their home country
John Goddard, Head of HSBC Expat, said: “Our Expat Explorer survey is a really deep dive into the experiences and views of expats living and working around the world and is established as a respected barometer of expat attitudes. The fact that it is being driven from here in Jersey is a reflection of our focus on global connectivity.
“The findings of this research can help those looking to make a move, including those living and working in Jersey, Guernsey and the Isle of Man, and enable us to understand the needs of our customers worldwide. It’s particularly pleasing that data from the survey reflects just how favourably the islands compare in terms of work-life balance and overall experience for expats.
“The survey shows that some people make a move abroad to improve the lives of their family; some are motivated by financial rewards; and some move in search of a new adventure. However, relocating also has its challenges and it’s vital to plan properly and get good advice before making a move.”
The full report and an interactive tool highlighting its key findings can be found here.