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Dubai the new Spain for working British expats
| Published: | 5 May at 6 PM |
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Whilst Dubai isn’t exactly a retirement haven for older Brit expatriates, it’s tipped as the new Spain for those looking for employment in exotic locations.
Spain, once a favourite for jobs including sun, sea and sangria, is falling out of favour with younger expat professionals looking for fun as well as employment in a thriving location. The Muddle East is now offering comparatively stable house prices and better job opportunities, attracting a growing number of migrants as a result.
According to a survey by a leading British bank, Dubai is the destination of choice for young British professionals and now ranks third in the table of nations. Australia and Canada top the list, and Spain has now fallen to ninth place.
The report concentrates on quality of life and is aimed at British expats, 150,000 of whom are emigrating every year. Cheaper travel is drawing migrants to ever-farther flung locations, and unfamiliarity is as much of an attraction as a better salary and a fun social life.
On the practical side, Dubai’s zero tax rate status is its main draw, and its financial service sector employs the majority of expat professionals, with the oil industry also a major source of expat jobs. However, the emirate presents a poor deal for all but the richest retiree expats, as the cost of living is high.
The survey reports that Australia is still an expat dream for Brits, with around 40,000 moving there every year to join the 1.2 million already in residence. Warmth, sunshine and friendly locals combined with a high quality of life attract retirees as well as younger entrepreneurs, although the cost of living is high and still rising.
Spain, once a favourite for jobs including sun, sea and sangria, is falling out of favour with younger expat professionals looking for fun as well as employment in a thriving location. The Muddle East is now offering comparatively stable house prices and better job opportunities, attracting a growing number of migrants as a result.
According to a survey by a leading British bank, Dubai is the destination of choice for young British professionals and now ranks third in the table of nations. Australia and Canada top the list, and Spain has now fallen to ninth place.
The report concentrates on quality of life and is aimed at British expats, 150,000 of whom are emigrating every year. Cheaper travel is drawing migrants to ever-farther flung locations, and unfamiliarity is as much of an attraction as a better salary and a fun social life.
On the practical side, Dubai’s zero tax rate status is its main draw, and its financial service sector employs the majority of expat professionals, with the oil industry also a major source of expat jobs. However, the emirate presents a poor deal for all but the richest retiree expats, as the cost of living is high.
The survey reports that Australia is still an expat dream for Brits, with around 40,000 moving there every year to join the 1.2 million already in residence. Warmth, sunshine and friendly locals combined with a high quality of life attract retirees as well as younger entrepreneurs, although the cost of living is high and still rising.
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