71% of GCC expats feel ‘better-off financially’ – survey

GCC expats, survey, expatriates, GCC, research, Gulf Cooperation Council, Middle Eastern countries, Saudi Arabia, Kuwait, the United Arab Emirates, Qatar, Bahrain, OmanAn overwhelming majority of expatriates in the GCC feel they are financially better off than they were the previous year, according to recently published research. The Worldwide Wealth Survey conducted by wealth management firm Dubai-based Hoxton Capital found that 71% of expats expressed this view. According to Hoxton Capital, this finding is a demonstration of an overall positive outlook among ex-pats in the region, helped by rising salaries, tax advantages and a favourable business climate. “There is a clear trend of economic prosperity in the middle east vs one of consolidation and balanced optimism in some of the other regions,” said Alan Turner, marketing director at Hoxton Capital. “Some countries in the middle east, such as the UAE, where I am based, have seen increased inflows of expats in the last year, and, whilst some of that can be attributed to geo-political reasons, for the most part, those people are coming here because it is a growing economy and because their personal net economic position here is going to be stronger than it was in their home country.” ©2023 funds global mena


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