Expat news
South Korea
Will 2023 be the year of a new economic and even demographic boost in South Korea? This is the government's hope and belief as it outlines its plan to revive the South Korean economy. Since important sectors are suffering from acute labor shortages, it is taking new measures to welcome foreign workers. Which are the most affected sectors and are in desperate need of expat workers?
Sweden
According to Swedish Migration Minister Maria Malmer Stenergard, this move aims to "reduce the risk of painful tragedies for migrants". Underlying this measure is, in fact, the political pressure exerted by the far-right Sweden Democrats (SD) party. The SD intends to take advantage of Sweden's presidency of the European Union to steer migration policy.
Singapore
Thanks to its strong links with other countries, Singapore's economy is considered a barometer of economic conditions. However, there is growing concern about the 2023 outlook as the World Bank warns of a possible recession. As a result, the Singaporean government is introducing a new strategy to sustain its economic growth based partly on foreign talent. Here's how this works.
Malaysia
During COVID, more than 700,000 foreign workers left Malaysia. Faced with major labor shortages in key sectors, the government has announced a vast international recruitment program. Here are some insights.
China
After 3 years, China finally reopened its borders on January 8. Most travelers can now enter the country only with a negative PCR test. Many expats in China feel relieved and want to resume enjoying the life they loved there. However, some who were stuck outside of China in March 2020 are hesitant about returning, and doubts remain about the economic prospects of expats in the country.
Accommodation
What does the year 2023 hold for the global real estate market? In its most pessimistic projection, the IMF is talking about a 10% drop in property prices in advanced countries and 25% in emerging countries. It seems that price booms are over. Inflation and the risk of a global recession are rendering the global market even more tenuous. In this context of uncertainty, is investing in real estate still a safe bet for expatriates? What are the benefits of investing in real estate, and where can you buy affordable property in 2023?
Everyday life
As Spain prepares to launch its new Digital Nomad Visa, what should you know about moving there in 2023? The country also has a new Startup Act to encourage entrepreneurship, even from expats, and it boasts of the lowest inflation in the EU and multiple new social welfare policies at the moment. Retirees have historically been a big expat demographic in Spain, but there are now increasingly more young expats in their 20s and 30s.
Work
Are you looking for a stable job? Are you dreaming of moving abroad for new career opportunities? Canada starts 2023 with unemployment figures that would make other leading economies swoon. The country is still likely to gain valuable points with prospective immigrants. Used to good rankings, Canada is one of the favorite countries among expatriates. Will this be confirmed again this year by the drop in the unemployment rate? Will the government stick to its strategy to welcome 500,000 immigrants by 2025?
USA
Joe Biden concedes that the latest decisions won't solve the problems undermining the immigration system. However, the American president is optimistic in his belief that these new measures will be of great help to the nation. How, in the context of an inflationary and global economic crisis, can labor shortages be addressed while at the same time firmly addressing the issue of illegal immigration? The American president is trying to reach out to the Republicans without alienating his supporters, which is a risky exercise, even for the most talented of balancers. What can we learn from the Biden administration's new immigration policy?
England
Recently, in order to fight labor shortages, the UK's Home Office eased the laws to obtain a Skilled Worker Visa. International students can now switch to this visa before completing their course as long as they have a suitable job offer. However, this is turning out to be a problem for British universities, who are seeing higher international dropout rates and the accompanying loss of funds from tuition fees.
Work
As part of its Immigration Levels Plan 2023-2025, Canada is trying to attract more immigrants from the Indo-Pacific region. Most recent immigrants have come from three countries in the region: India, China and the Philippines. In the next 5 years, Canada will invest an additional $75 million in trade, visa processing and educational exchanges with the Indo-Pacific region.
China
When it implemented its zero COVID policy, the Chinese government was confident of its ability to completely eradicate the virus from its territory. Beijing still officially holds this line, despite acknowledging that its policy is unpopular. The three-year isolation has had heavy consequences on both human and political planes and will probably continue to do so in the coming years. The population has been pushed to the very edge. Under pressure from unprecedented demonstrations, Beijing is giving ground for the first time.
Ethiopia
Ethiopia is the sixth largest economy in Africa, with a GDP of $111 billion in 2022. It is, in fact, on track to overtake Kenya for fifth place by 2023. As part of its strategy to achieve this, the government has successfully resumed its drive for foreign investment to boost economic growth. Its latest initiative is the introduction of a new visa for foreign investors. Here's what it means.
New Zealand
New Zealand is actively seeking skilled migrants to boost its economy. Having suffered the consequences of its zero-covid policy, the country officially lifted all restrictions last September. The clock is ticking to revive growth despite inflationary pressures. Why is immigration essential to New Zealand? What measures has the government taken to attract foreign workers?
Work
Multiple recent studies revealed that younger workers highly value flexibility in their careers. This flexibility includes the ability to work remotely and from abroad. After their university or first career years spent under pandemic lockdowns, many have an increased thirst to job-hop around the globe or become digital nomads.
Work
Since the pandemic, the demand for experienced health professionals in many countries has increased. Canada, Ireland and Australia are currently offering attractive incentives to welcome expats working in healthcare.
Work
Is 2022 a dark year for the tech world, as described by some experts? The list of companies laying off thousands of employees is getting longer, and they include giants like Microsoft, Meta, Twitter, Salesforce, and soon Amazon. In Singapore, the situation is worrisome since leading tech powerhouses operating there have successfully attracted many foreign professionals over the years, not to mention the country's economic dynamism. But now that the giants are pulling out, the jobs of many locals and expatriates alike are being threatened.
Everyday life
Until now, Malta has been the only country in the European Union with a total ban on abortion, but that might soon change. Safe and legal abortion is available on request in most EU countries and is often even fully funded by the state. Apart from Malta, only Poland currently has highly restrictive access to abortion. Meanwhile, the rise of the far-right in Italy has awakened the fears of pro-choice citizens and expats there.
Other Types
Schools & studies
There is so much more that goes into the choice of a university today than even a decade ago. International students especially have the whole world to choose from. And while before students were more focused on the theoretical benefits of a certain degree, today, with so many less traditional options for learning (online, via social media, private tutoring, etc.), there is a lot more a traditional institution has to offer, especially given the price of formal education.
Banks and finance
If you are like most expats looking to purchase a home overseas, you will probably need a mortgage. This typically means applying to a bank or lender in the country where the property is located. The process can be different and more complex than in your home country, especially for non-residents, as financial institutions are cautious about lending across borders. In some places, the route from application to approval is relatively straightforward, but in others it can be much more challenging.
Work
You may be dreaming of managing your team abroad or opening or taking over a business overseas. But already, a thousand questions are challenging you. Are you really cut out for a leadership role, especially in another country? Here's some practical advice to build your confidence before embarking on the expat project that's right for you.
Work
More young professionals than ever are choosing to start their careers abroad. Driven by the rise of digital nomadism, economic uncertainty, and the promise of new opportunities, they are increasingly willing to cross borders in search of a better future. But what do young expats really expect from their first job overseas? And how do their career goals compare with those of earlier generations?
Paraguay
A new investor residency rulebook landed last month, and for anyone weighing Paraguay as a place to actually live, the numbers are surprisingly friendly. If you've been quietly researching Paraguay as a possible new home base, for the taxes, the cost of living, the easy residency, or just because the rest of the world feels increasingly expensive and complicated, this one is for you.
Tax
Postcard-perfect beaches, luxury villas, sports cars and a jet-set lifestyle: social media often paints expat influencers and content creators as financially free and permanently on vacation. Behind the filters and sponsored posts, however, lies a much more complex reality. As more freelancers, influencers and digital creators move abroad to optimize their lifestyle and income, tax authorities around the world are increasing their scrutiny. So how can content creators relocate overseas legally, optimize their taxes, and avoid crossing the line into tax evasion?
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