Economy - Expat Magazine

Banks sell loans, and regardless of whether you are an expat or national, they want you — the customer — to buy these loans. Bearing this in mind will help you understand that getting a loan as an expat is not out of the question, and it is worth considering if it will ease your life as an expat. But where do you start when applying for a loan in a country whose banking system is not overly familiar to you?

Moving abroad is a task which requires courage, perseverance, and sometimes, large financial investment. Funds can quickly disappear in transporting belongings, property costs, and other hidden charges like foreign exchange rates. This article from CurrencyFair outlines some key principles in saving for expats who are just starting their adventure or looking to reassess some aspects of their new lifestyle abroad.

In the early 2000s, the banking sector experienced a small revolution: surfing the vibe of the internet boom, online banks started emerging. The most effective communication campaigns, ease of use, quick and efficient service, savings… what's not to like? After courting the so-called traditional customers, expatriates have become a target of choice for online banks.

A study by Insight Discovery found that one in five expat in Gulf Cooperation Countries fail to save any of their salary. Higher wages, however, is often why people want to settle abroad. What are the pitfalls to avoid?

Besides being a cultural melting pot, Asia can boast of its conducive business environment which has been attracting foreign investors in large numbers. Benefits of investing in Asia are many – including fast-growing economies, strategic location and access to a vast consumer market. If you're looking to launch your startup in Asia and thrive, here are some of the most promising countries for foreign investment.

December is all about excitement, anticipation, and high levels of energy, which are required to get us through all the shopping and cooking frenzy of the festive season. Then, Christmas Day comes and along with it the pick of our happiness. Wherever we are, and whoever is surrounding us, we are doing our best to make our Christmas special. But the day is over, and on the 26th we wake up underwhelmed. If we have spent the holidays in our host country, far away from family and close friends, this is usually a day of nostalgia and heavy symptoms of homesickness. Don't shut your emotions down, but do small things instead to boost your spirits again. After all, you have the New Year to get you going.

As we're getting closer to the end of the year, you're perhaps among those who are assessing their career and planning for the future. If you're looking to enjoy a higher standard of living and higher wages, moving abroad can be the answer. Below is an overview of the European countries offering the highest salaries.

Home to many of the world's largest companies and most government and financial institutions, global financial hubs play a crucial role in defining success. If you're looking to invest or expand your business abroad, connectivity, infrastructure, efficient regulatory frameworks and tax benefits are some of the factors you might be looking for. Expat.com gives you an insight into the global financial hubs around the world according to a study by Z/Yen Group.

If you're planning a long-term move abroad with the hope of becoming a permanent resident and, after that, apply for citizenship, many questions have to be addressed. For those who are still working but looking to retire, retirement pension is a determining factor. Will you enjoy a better standard of living and other benefits when retiring in your new country? If you're still unsure, have a look at some of the world's best pension systems.

Competitiveness is a crucial factor to take into account if you're looking for new career or business prospects abroad. The latest Global Competitiveness Report highlights the strengths and weaknesses of every country around the world. As expected, the USA, Singapore, Germany, Switzerland, Japan, the Netherlands, Hong Kong, the United Kingdom, Sweden and Denmark make it in the top ten. Have a look at the world's most competitive countries in 2018.

If you're currently pursuing higher studies or you have just graduated, you're probably looking at career prospects that are within reach. Universum conducted a research among students living in twelve of the world's largest economies. Find out more about the long-term ambitions and expectations of Generation Z from the global labour market.

When moving abroad, many of us prefer a big-city life for various reasons including economic prosperity, opportunities available, the level of infrastructure, and the presence of amenities. To help you choose wisely according to your long-term plans, here's an insight into the world's largest cities and megacities of the future.

If you're looking to start a business overseas, economic freedom is perhaps something you have never thought of. There are numerous elements to take into account when investing abroad, including market access, competitiveness, security, property rights, and adequate legal frameworks and judicial systems. To help you choose wisely, here's an insight into six of the world's most economically-free countries and their benefits for businesses.

Today, the Middle East suffers from a somewhat negative social and political image spread by the media. However, the region can boast of some of the world's fastest developing economies including the United Arab Emirates, Saudi Arabia, and Qatar that have been attracting many foreign professionals in the past years. If you're looking for better career prospects and a higher standard of living, why don't you try your luck in those places? Here are some of the most common misconceptions about the Middle East debunked for those who never dared to take the leap of faith.

For professionals, entrepreneurs and investors looking for new opportunities overseas, economic and financial stability is a crucial factor. Which are the countries where you're more likely to thrive and prosper? Expat.com gives you an insight into five of the world's wealthiest countries according to the Wealth-X World Ultra Wealth Report 2018.