German expats rate it top for career prospects

Germany has been rated as the best country in the world for expatriates to pursue a career, according to an analysis of HSBC's annual Expat Explorer survey.

UK jumps to 3rd in rankings despite Brexit uncertainty

Bahrain soared up the table to come in second in the rankings while the UK jumped six places from last year to claim third place, despite the continuing uncertainties over Brexit.The UAE, Switzerland, Sweden, Singapore, the US, Canada and Hong Kong rounded off the top 10 in an analysis of returns from the 2018 survey, which elicited responses from more than 22,000 expats living in 163 countries.Criteria analysed by HSBC comprised the ability to acquire new skills; work-life balance; work culture; job security; career progression; gaining personal fulfilment at work; employee benefits received; and earning prospects.

Germany ranks top due to efficient workspaces and work culture

This month's report said expats in Germany were enthusiastic about the country's efficient workplaces and overall work culture. It was rated as the world's best country for career progression by 65 per cent of respondents, while 70 per cent reported an improvement in their work-life balances after moving to Germany.Bahrain moved up from 12th last year to claim second place with HSBC attributing this mainly to expats' earning potential and the benefit packages on offer in the emirate, which was also praised by more than 60 per cent of local respondents as a place to develop leadership skills.Meanwhile, the UK jumped up the list even though Brexit means the end of free movement of workers from the EU as the government moves to a new, skills-based immigration regime.

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Migration and diversity in London power growth and potential for career development

“Global talent has long powered the international melting pot that is London and that does not appear to be slowing down,” HSBC said. The UK was top for learning new skills and fourth best for career advancement, according to the report.Th UAE achieved fourth place mainly due to the benefits packages offered by employers (ranked first) and its earnings prospects (third).Marwan Hadi, HSBC's head of retail banking and wealth management in the UAE, said, “The UAE once again emerges as the destination of choice for ambitious globetrotters looking to expand their careers in 2019."Better earning potential is the cornerstone of why people seek career opportunities here. It is indicative of the success of UAE’s focus on diversification, which has resulted in the creation of an internationally recognised and sought-after working environment.”

US offers career progression but suffers from intense and demanding work culture 

The US, in eighth place as far as work is concerned, remains the primary destination globally for expats with career progression being the main reason cited in the survey.Nearly two-thirds of respondents said the US offered enhanced opportunities to acquire new skills while 48 per cent found work in the US to be more fulfilling than in their home countries.But the nation's overall ranking suffered partly because of the intense and demanding work culture that has come to define the country’s workforce, said HSBC.“Working abroad, especially in the US, can be stressful if you don’t know how to properly manage your finances,” said Paul Mullins, HSBC's head of international banking in the US and Canada.“As an expat myself, I know first hand how much the little things matter — knowing where to put your savings, how to transfer funds and protect against currency fluctuations is critical to success. Feeling confident that your money is in a good place with the help of a professional adviser allows you to focus on what really matters.”Relocate’s new Global Mobility Toolkit provides free information, practical advice and support for HR, global mobility managers and global teams operating overseas.Access hundreds of global services and suppliers in our Online DirectorySubscribe to Relocate Extra, our monthly newsletter, to get all of the international assignments and global mobility news.

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