Nearly three-quarters of expats working in the UAE earn more than they could in their home country, according to HSBC’s Expat Explorer survey.
The UAE has been ranked the fourth best place to work in the world, marking its third consecutive year in the top five, and behind only Germany, Bahrain and the UK.
The survey of more than 22,000 expatriates from the international bank reveals that career ambition is the number one reason why people take the plunge and settle abroad.
Among the primary reasons expats highlighted the UAE as one of the top career destinations was for the benefits packages offered by employers (ranked first) and its earnings prospects (ranked third).
Seventy-five percent of expats in the UAE receive an annual airfare allowance to their home country and 85 percent receive health and medical allowances compared to global average of 17 percent and 43 percent respectively.
Marwan Hadi, head of Retail Banking and Wealth Management, UAE, HSBC, said in a statement on Tuesday: “The UAE once again emerges as the destination of choice for ambitious globetrotters looking to expand their careers in 2019.
"Better earning potential is the cornerstone of why people seek career opportunities here. It is indicative of the success of UAE’s focus on diversification, which has resulted in the creation of an internationally recognised and sought-after working environment.”
Nearly three quarters of expats in the country (73 percent) said that they earn more than in their home country, he added.
“Given these advantages, expats moving to and living in the UAE should look to make the best of their lives abroad. Knowing where to keep your savings and planning short and long-term financial needs is vital. Once you have the logistics in order, you can focus on seeking out new experiences, gaining new skills and learning more about your new environment,” said Hadi.For all the latest business news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.