Many top positions in emerging markets are being given to expatriates who often have more professional experience than local staff, and this is particularly true in Dubai, one expert has observed.
According to Nigel Green from the expatriate wealth solutions provider deVere, this trend is likely to continue as professionals in the UK become aware of the substantial benefits of moving to Dubai and the perks that come with holding a job in the emirate.
He explained that most Britons abroad have remained “relatively resilient” to the wider economic troubles over the past couple of years, in comparison to their contemporaries in the UK, and their good fortune is likely to inspire even more people based on British shores.
One key factor in their decision to move is that expats are more likely to be better off than those in Britain, as a higher proportion will have the type of jobs that offer higher salaries and more attractive benefits.
“While many are attracted to a foreign country because of its lifestyle, a significant and growing number are attracted by high salaries and incentives. Many top positions in emerging markets, places such as Russia, China, Egypt and Dubai, go to expatriates as they have often had more professional experience,” he said.
Mr Green pointed to recent figures published by the Office for National Statistics, which showed that an average of 4,800 Britons a week are leaving the UK permanently for foreign climes.
The truth is that an increasing number of British professionals are being prompted to move overseas exactly because of the global downturn, he explained.
“This is nothing new, as in times of economic gloom there has always been a groundswell of escapism,” the expert concluded.
Earlier this month, deVere reported that it had observed a 37 per cent spike in the number of high net worth individuals enquiring about leaving the UK in the first six months of 2012, and the potential benefits of doing so.
Cadogan Tate is an international moving company known for delivering expert solutions for British professionals relocating abroad.