Economy - Expat Magazine
China, currently the world's largest economy after the United States, aspires and takes drastic actions to become number one before 2030 by transitioning to a consumption-driven development model. Although there are risks of failure, which may lead to uneven economic growth, protectionism, and nationalism instead, China is most likely going to play an even bigger role on the global economic stage, while it restructures its policies and regulations, and improves the quality of life of its citizens. Here are eight predictions about China's business and consumption future as presented by the World Economic Forum, based on China's commitment to innovation, technology, and entrepreneurship.
The Arab world's competitiveness is promising, as long as the countries in the region commit to economic and social reforms, and accomplish the erosion of persisting inequalities. One solution for a more open and prosperous economy in the Arab world is for its countries to further invest in an entrepreneurial private sector, which will create employment opportunities for the youth. In general, the Arab world needs to diversify its economy by shifting from natural resources to dynamic entrepreneurship, and at the same time fund education, innovation, and connectivity projects.
Today, more and more seniors are looking to retire overseas. Many countries are attracting retirees from around the world by providing not only a high standard of living and quality of life but also a range of financial benefits. Expat.com gives you an insight into the best countries to retire in according to the Global Retirement Index 2018 by Natixis.
Millennials demand flexibility at work, push off marriage until they have established their career and have become financially stable, and are more interested in experiences than homeownership. These digital, entrepreneurial, and well-travelled young people cherish change and are keen to take up the challenge of relocation. But where do Millennials flock to, and what are their criteria for liking a place? Nestpick, a global accommodation website, has ranked 110 cities based on professional opportunities, good quality of life, tolerance, and recreation. Here are the five most popular urban centres among Millennials for this year.
To understand how generations interact with one another, the Resolution Foundation, a British think tank, has convened an Intergenerational Commission. While generations share common living space — whether it is in the form of family or the broader society — the IC is studying how they can live better together, and how the younger population can be better off than their parents. Going beyond the unlucky timing of the global economic crisis, the side effects of which Millennials have felt the most, IC is trying to renew the social contract between generations.
According to the International Organization for Migration (IOM), the international migrant population is steadily growing as the movement has become easier thanks to the digital revolution and more affordable travel costs. In 2015 there were about 244 million international migrants — 89 million more than the number of migrants in the year 2000. In most cases, people are moving to high-income countries for work in the service sector. If done in a humane and orderly way, IOM believes that migration is beneficial for both the society and migrants, and can boost the global social and economic development.
Expat life can be equally intimidating and interesting. You are filled with motivation to start afresh in a foreign land, which is exhilarating and stressful at the same time. Sometimes, you may even think about moving back home, either out of homesickness, or after having spent a considerable time abroad exploring new cultures and experiences.
The annual GDP of a country doesn't only define the economy of a place but also the quality of life and living standards among its population. According to the World Economic Forum and data provided by the International Monetary Fund, there aren't significant changes in the world's leading economies when comparing the current rankings with the rankings of the previous years. The strongest economies are the usual suspects with some emerging markets reluctantly joining the game.
France
Upon moving to Paris, whether it is after an expatriation or a business mission, one of your main objectives will probably be looking for a place to call home. The process of finding accommodation in Paris can take a lot of time. In addition, without any proof of residence, you may encounter difficulties in progressing with other administrative procedures, such as enrolling children in school.
A relocation project can be very beneficial for companies thanks to the recruitment of global talent and diversity in the working place. However, it comes with several challenges, which, if not adequately addressed, may not only cost the company a lot of money but also lead to loss of competent human force. Some of these challenges are available support to expat employees and orientation, visa acquisition, travel costs, housing, shipment of goods, and other benefits. Cartus, a provider of corporate relocation services, has assessed the global relocation trends for 2018 and the challenges that companies have to deal with when sending employees abroad.
Adapting your habits and lifestyle to a new culture during your expat life is challenging already as it is. However, be prepared that it may also be hard for your wallet to comply with the new costs. In order to help with your smooth transition from one economy to another while moving abroad, we have composed a list of the five most essential tips on how to save money as an expat.
The world seems to have risen above the worst financial crisis in modern history, and we are benefiting from some of the highest living standards humanity has ever known. At the same time, we have access to unprecedented technological, scientific, and financial resources, which can give solutions to environmental, economic, geopolitical, and societal challenges. But how ready are governments, businesses, organisations, and people to recognise how interconnected we all are, collaborate and deal with problems at a global level?
Your employer has just placed you on an international assignment, and you wish to know what living standards to expect in your new city. Mercer, the largest human resources consulting group, ranks the quality of living for 2018 in 231 cities based on different categories — from the political and social environment, economic conditions, healthcare, and education, to public services, housing, natural environment, recreation, and availability of goods. Expat.com presents the five most competitive cities in the world when it comes to good quality of life and attraction of global talent and foreign investment.
Türkiye
Leonard, a writer, an educationist, a history-lover, and an avid reader and traveler, has found everything he needs to lead a fulfilled life in Turkey — where two opposite cultures meet and thrive together. He established his new home in Turkey in 2008 by some quirk of fate, and today, ten years later, he knows that his future is tied with Turkey. To find out more about his expat life in this magical country, follow us as we unfold Leonard's story.
For those with an entrepreneur mindset looking to start a business abroad, there is a lot of research to be done regarding which country provides the best conditions regarding all possible aspects. Expat.com gives you an insight into the best countries for business in 2018, according to Forbes magazine.
Your dream has finally come true and you're starting a new year in a new country. Keeping in mind that moving abroad is a challenge, there are so many ways to keep yourself busy while getting the most of your new home. Expat.com gives you some tips to help you start an exciting new year abroad.
The latest edition of the HSBC Expat Explorer survey has arrived, and with it comes some insight into expats and their finances. We have a look at the results to find out some of the places to move to if you want to boost your finances, or where the most expats are property owners.
To remain competitive while trying to make the world a better place, companies must integrate sustainable development at the heart of their strategy. The United States of America, France, the United Kingdom, Canada, Germany, and the Netherlands host some of the world's most affluent and sustainable companies. To guide and inspire you throughout your move abroad as an employee or entrepreneur, Expat.com gives you an insight into the world's five most sustainable companies.
Articles to help you in your expat project
Banking in Italy
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The banking system in Japan
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Opening a bank account in Spain
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Banking in China
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