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The Middle East continues to draw financially minded expats

Over recent years the Middle East has come to symbolise a region for expats looking for greater financial rewards and new opportunities. The Expat Explorer 2012 report highlights that this trend continues, as the region retains a positive economic outlook and provides opportunities for younger, career-oriented expats.

While the data from this year's report shows that expats across the globe are continuing to feel the economic strain, those in the Middle East remain relatively positive about the state of their local economy. Expats in Oman (90%), Qatar (89%) and Saudi Arabia (83%) report a much higher satisfaction level with the state of their current economy than expats across the world (59%).

This relative shelter from the economic storm offers wider opportunities and benefits for careers and remuneration. Across the Middle Eastern nations, expats are drawn to the countries for job opportunities, with this being the key driver for expats heading to Qatar (77%), Saudi Arabia (76%), Bahrain (74%) and the UAE (65%). Within these countries expats also benefit financially. Alongside high salaries, the low tax rates on personal income in many Middle Eastern countries have helped expats to secure increased disposable income as a result of their move, in comparison to those living in other regions.

Perhaps as a result, the region is particularly popular with young expats. In Saudi Arabia in particular, nearly half (46%) of expats heading to the region are in the young working age demographic (18-34 years old), with less than one in ten (8%) aged over 55. The ages of expats heading to the region are in stark contrast to the make-up of expats worldwide, where 32% of expats are aged 18-34 and 22% are over 55.

Graph – Expat earning potential in the Middle East

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