PH among expats’ top 5 picks
The Philippines is among the top five countries in the world where expatriates feel right at home, according to a survey commissioned by British banking giant HSBC.
Based on data from HSBC’s 2015 Expat Explorer survey, expatriates deemed South East Asia the best place for career satisfaction, being home to four of the top five destinations—Philippines, Malaysia, Indonesia and China.
“Expats migrate to other countries not only with the hope of being able to pursue a successful career in their chosen country, but also to adapt well to the environment and culture of a new country. It is interesting yet not surprising to know that the Philippines is in the top 10 countries where expats feel at home in less than six months. Indeed, expats living in the Philippines have found work to be more fulfilling because it is easy to fit in and feel welcome by locals whose warmth and hospitality come naturally,” HSBC president Wick Veloso said in a statement.
“Another integral part of living overseas is having access to financial services. The availability of financial services such as loans and deposits are crucial, as this asserts them security while living abroad. Due to the unique demands that are required of expats, it is essential that they are able to reach out to financial advisers, who are more familiar with local procedures, and are able to understand their unique needs.”
Bahrain, Malaysia, Mexico and Russia are the four highest rated countries where expats feel at home within six months of residence. At fifth place, the Philippines ranked higher than Thailand, India, Spain, Vietnam and Turkey.
Based on the survey, 40 percent of expats in the Philippines said the country felt like home instantly or within six months compared to 47 percent in Bahrain, 43 percent in Malaysia, 42 percent in Mexico and 41 percent in Russia.
Overall, the Philippines ranked 28th out of 39 countries identified by the 2015 Expat Explorer survey as top expat destinations in the world.
The survey also showed that 57 percent of those living in the Philippines said they had found their work to be more fulfilling since relocating. This is primarily because expats find it easy to fit in with their local colleagues, having approximately two-thirds of expats in the Philippines (65 percent) and Indonesia (67 percent) saying they are integrating well with the local community.
Many who join their partners overseas want to progress their own careers at the same time, take on new challenges, HSBC said. In particular, 63 percent of expat partners moving to the Philippines agreed they enjoy a closer relationship since moving.
Being a hospitable people, the Philippines ranked 9th highest in the family league table. The family league table reviews expats’ relationships, education, childcare, and impact of raising and integrating children abroad.
Dean Blackburn, head of HSBC Expat said: “Painting a picture of expat life across a broad range of criteria, the annual Expat Explorer survey is an insightful and comprehensive resource for all current and prospective expats. Not only can expats find out how the country they live in performs compared to other destinations, but they can also share the real life experiences of their peers.”
“The survey findings help those who plan to move or already live abroad, and help us to better understand our expat customers and the unique challenges they face. We would like to hear from even greater numbers of expats this year; their input is critical to further support and inspire the global community of those who have made the choice of a life abroad,” Blackburn said.
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