GLOBALISATION, coupled with the modernisation of transportation networks and technology has brought a new level of choice and flexibility to individuals in terms of relocation.
The UK remains extremely popular with those looking to experience life abroad with great cities and premier business and finance centres alongside great transport links into Europe and across the Atlantic.
In-depth research on expats is hard to find and understanding such a unique and diverse group of individuals can be a difficult challenge for many companies. For a provider of expat services such as HSBC Bank International, regional expertise is essential. The bank’s annual Expat Explorer survey gives it a unique perspective into expat life and, as a result, a better understanding of expats’ daily lives and needs.
LEARNING ABOUT LIFE
In 2010, over 4,100 expats from over 100 countries participated in HSBC’s Expat Explorer survey, making it the largest survey of its kind and the world’s biggest project dedicated to learning about life as an expat in different countries around the globe.
Expat Explorer provides fascinating insight in what it is actually like to be an expat in the UK. This year, the survey found that whilst almost half (48 per cent) of UK-based expats earn more than $100,000 (£63,638) annually, many were still feeling the adverse effects of the economic climate.
Two-thirds (67 per cent) of expats in the UK said they felt the economic situation had deteriorated over the past year, with nearly a third (29 per cent) having witnessed reduced career opportunities and 31 per cent having to monitor their expenditure more closely. These findings show that it is more important than ever for expats to obtain proper expert advice on how to manage their finances effectively.
HSBC Bank International understands the demands and desires of their customers which allows them to tailor their service to the distinct needs of expats. Offshore banking isn’t just about one specific product, and so HSBC Bank International provides access to relationship and wealth managers who help make the process of moving money around the world as easy as possible. Specialist insight means that they know the opportunities you may be considering, and the challenges you may be facing, before your conversation with them even begins.
For more details about HSBC Bank International’s offshore banking solutions visit www.offshore.hsbc.com or call +44 1534 616079