European countries amongst favourite expat destinations
Expat data has revealed that European Expats are most likely to move to other European countries. Spain is always a popular Expat destination for Brits, but what other countries rank highly?
Each year HSBC releases their Expat Explorer Survey, that outlines which expat destinations rank most highly. Within the list, there are five European countries which have landed in the top 10 during their latest 2020 survey.
The Expat Explorer Survey is categorised into three sections including:
- Living – wellbeing, political stability and culture
- Aspiring – income, disposable income and work-life balance
- Mindset – Cultural values, personal development and personal achievements.
The survey shows that Switzerland is the European country desired most by Expats, which also ranks at number one as a whole. Non-European countries within the top 3 are Singapore and Canada.
This article outlines the findings of the Expat Explorer Survey and what makes these countries such as favourable Expat destinations.
What Are The Top 10 Expat Destinations?
The HSBC Expat Explorer survey has identified that the top 10 destinations for Expats are as follows:
Ireland has made its way into the top 10 in the most recent Expat Explorer survey after ranking at number 14 during the previous year. The country has come out particularly strongly during the ‘mindset’ category, showing that residents most value personal achievements, developments and cultural values very highly. Known for career opportunities and natural beauty, it’s understandable why the Emerald Isle is so highly favoured.
Having reached number three during last year’s survey, Canada now stands at number nine for 2020 and is the only North American country in the top 10. Most admired for its cultural diversity and beautiful scenery, Canada is an excellent place to raise a family. It’s also a great place to study, with over a third of Canada’s students coming from overseas.
Australia is an incredibly popular expat destination, particularly for Brits. The key ranking factor for Expats living in Australia is the physical and mental wellbeing. Whilst income was one of the lower factors, work-life balance and fulfilment still remained high. Many Expats living in Australia commented that they felt their physical health improved since moving to the country. Australia promotes an active lifestyle and, full of such natural beauty, it’s easy to see why wellbeing ranks so highly.
A new entry for 2020, the Netherlands comes in at number seven. Known for its beautiful landscapes and thriving economy, it’s clear to see why the Netherlands is so popular with expats. A very liberal and modern country, the Netherlands is considered to be a trailblazer when it comes to governance and commerce. The country ranks particularly highly for education and positive work-life balance.
Qatar is another new entry for the 2020 Expat Explorer Survey, known for being a small yet incredibly wealthy country. What is most noticeable about Qatar’s results is how highly it ranks in the ‘aspiring’ category, which includes income, career progression and reaching potential. It’s easy to see why Qatar is known for attracting highly skilled professionals.
A hugely popular European Expat destination, Spain comes in at number 5, with a particularly high ranking when it comes to quality of life and mental wellbeing. Spain is, therefore, a particularly favourable option when it comes to families looking to live in Europe. With fantastic weather and leisurely living, Spain is a fantastic destination for those looking for a more relaxed way of life.
Rising 4 places, Germany comes in at number 4 as one of the favourite European countries for Expats, with financial stability as its most highly rated factor. Germany, in particular, scored reasonably well for both disposable income and work-life balance, making it a positive option for families looking to emigrate within Europe.
- New Zealand
Up two places from last year, New Zealand is number three, ranking highly for many of the same factors as Australia; physical and mental wellbeing, good work-life balance and the friendly communities are the key factors. What Expats love the most is the ability to explore the country’s beautiful natural surroundings and engage in an adventurous lifestyle as a result of the free time they get after work. It’s not surprising that 69% of Expats living in New Zealand spoke highly of the positive work-life balance.
Singapore has always ranked highly as an expat destination and has ranked at number one for four consecutive years within the Expat Explorer Survey. Coming in at number 2 for 2020’s survey, Singapore ranks most highly for young Expats, with solid scores in schooling and learning. With Expats praising Singapore’s education system, this is a particularly excellent choice for parents concerned about their children’s learning when looking to move abroad.
At number one for another year running, we have Switzerland as the favourite European destination for Expats and there are many reasons why. The majority of Expats in Switzerland claim that their quality of life has significantly improved compared to their home country. Switzerland is very environmentally friendly, with over 70% of Expats claiming that the country was significantly less polluted than back home. Financial stability is also a huge factor, with average expat salaries at $111,587. Most expats in Switzerland also claim that they feel secure and safer than in their home country.