Posted on 17/12/2012
There’s no shortage of
employment-related expat news this week - some good and some less so.
Starting with the bad news, job
opportunities are likely to be more scare in Russia in the coming
year due to quota changes. Meanwhile, the controversial new expat
labor laws in Saudi Arabia may result in reduced income for expat
employees, as companies try to pass on their extra costs.
Good employment news comes from Canada
this week, with the announcement of a new residency initiative to
attract skilled expats.
Finally, we have interesting
information to report as a result of two recent expat surveys: one
concentrating on investments, and another on the life of expats in
Expats Continue to Favor Traditional
UK newspaper The Telegraph reports
this week that expats continue to concentrate on traditional
investments such as property and shares. “Alternative”
investments such as antiques and fine art are only of interest to
13-percent of individuals.
The figures come from a recent survey
of “Internationally Mobile Wealthy Individuals.” These are expats
with investible assets in excess of $1 million.
Amongst an array of interesting
findings, the report discovered that real estate investment is far
more popular in Asia than in the US and Europe, and that wealthy
expats residing in Singapore and the UK often have three or more
Canada Aiming to Attract Skilled
Prospective expats considering Canada
as a potential destination will be pleased to hear of a relaxation to
immigration rules, due to a shortage of skilled tradespeople.
From January 2013, there will be a new
permanent residency initiative aimed at tradespeople, including
welders, electricians and mechanics.
The Canadian authorities plan to grant permanent residency to 3000 new expats in the first year alone. Qualification requirements include the need for a confirmed job offer in Canada or competency certificate, and a minimum of two years relevant experience.
New Saudi Expat Law Still Under Fire
The new expat labor laws in Saudi
Arabia continue to attract controversy.
Recently introduced laws are intended
to reduce unemployment amongst natives by financially penalizing
companies who employ a surplus of foreign workers.
The Saudi Gazette reports that
many companies are planning to pass the extra costs on to employees
or customers, resulting in poor value for consumers and less
attractive working conditions.
Business leaders are predicting a
negative effect on the Saudi economy.
Fewer Expat Jobs in Russia
There’s bad news for expats in Russia
this week. The Moscow News has reported a significant drop in
job quotas for foreign workers.
The cuts primarily affect those in
middle management positions, and include a drop of 12.8 percent in
science and engineering. The reason for the reduction in these quotas
is thought to be a significant rise in native skills and experience.
Recruiters are now looking at native candidates before branching out
to the expat labor market.
Senior management positions, with
salaries in excess of 2 million rubles, are unaffected by the quota
Interesting Statistics Released on
US firm VIP Communications has
this week released the results of its “Expat Sentiment Survey,”
which collects information from over 20,000 expats living in America.
The survey results seem to suggest that
expats in the USA are largely content with their life abroad.
57-percent of respondents rated their quality of life at between
seven and nine out of ten.
The survey also suggests that most US
expats believe they made the right move, with a majority ranking the
USA higher than their former countries on safety, education and
On the (slightly) negative side, over
half the individuals’ questioned stated that they preferred the
food in their home country!