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Exotic lifestyles and growing economy attract expats to India
| Published: | 14 Nov at 6 PM |
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A recent study has named India as one of the favourite destinations for expats due to its business opportunities and exotic ambience.
The survey, undertaken by the global Association of Executive Search Consultants (AESC), suggests that, over the last several years, the lure of India as a land of opportunity and unique cultural experiences has propelled it to the top of the list for migrant workers and entrepreneurs from the West. According to AESC president, Peter Felix, senior level skills shortages in the sub-continent have resulted in a demand for qualified, experienced expats.
He adds that the fast-developing economy is the main attraction, especially in the IT and manufacturing sectors, although retailing and other consumer–oriented businesses are proving popular as well. The study noted that building a strong business network on the sub-continent can prove challenging, as relationships are built up and maintained in unfamiliar ways, even although executive positions are not hard to find.
Around 50 per cent of expat executives in the survey noted a change towards more ethnic diversity in the workforce, with well-educated migrants from developed countries deserting their slowing economies to search out positions unavailable at home. The increases in salary and expat packages for top-level posts are another major attraction fuelling the trend.
Newly-established multinationals in India are attracting higher-level executive talents in the technical expertise sectors, with the chance to gain work experience in a global market also a draw. Expats in the survey indicated they were looking at a stay of at least one year, with the IT, telecom and technology workforces now including 30 per cent of foreign workers and the manufacturing sector attracting 12 per cent.
Felix stated that major issues involved in a decision to relocate to India were security and environment, with the country scoring well in both in comparison to other Asian nations. Standards of living, he added, have risen considerable over the last decade, attracting more expats at the executive level.
The survey, undertaken by the global Association of Executive Search Consultants (AESC), suggests that, over the last several years, the lure of India as a land of opportunity and unique cultural experiences has propelled it to the top of the list for migrant workers and entrepreneurs from the West. According to AESC president, Peter Felix, senior level skills shortages in the sub-continent have resulted in a demand for qualified, experienced expats.
He adds that the fast-developing economy is the main attraction, especially in the IT and manufacturing sectors, although retailing and other consumer–oriented businesses are proving popular as well. The study noted that building a strong business network on the sub-continent can prove challenging, as relationships are built up and maintained in unfamiliar ways, even although executive positions are not hard to find.
Around 50 per cent of expat executives in the survey noted a change towards more ethnic diversity in the workforce, with well-educated migrants from developed countries deserting their slowing economies to search out positions unavailable at home. The increases in salary and expat packages for top-level posts are another major attraction fuelling the trend.
Newly-established multinationals in India are attracting higher-level executive talents in the technical expertise sectors, with the chance to gain work experience in a global market also a draw. Expats in the survey indicated they were looking at a stay of at least one year, with the IT, telecom and technology workforces now including 30 per cent of foreign workers and the manufacturing sector attracting 12 per cent.
Felix stated that major issues involved in a decision to relocate to India were security and environment, with the country scoring well in both in comparison to other Asian nations. Standards of living, he added, have risen considerable over the last decade, attracting more expats at the executive level.
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