In our continuing series of articles looking at HSBC’s recently launched Expat Explorer study we turn our attention to the Eurozone’s economic powerhouse Germany.
Expats moving to traditional destinations in southern France and Spain have long been struggling with the economic downturn affecting the Eurozone for the past 4 years. However, their compatriots living over the border in Germany have been thriving.
“More than nine in ten (91%) expats in Germany believe that the economic situation in their country is either getting better or staying about the same, with a similar number reporting that they are satisfied with the current state of the economy (86%). In addition, the majority of expats in Germany (61%) think that things are generally heading in the right direction (compared to a global average of 37%) and associate the country with strong political stability (67%).”
“France and Spain remain popular with expat retirees (41% and 32% of expats in France and Spain respectively are retirees compared to only 7% in Germany) and expat experiencers. In contrast, more than half (55%) of those who moved to Germany expected to benefit from a better job, compared to just a third of those living in France (33%) and Spain (29%). In addition, half (49%) of expats in Germany moved there expecting financial gain, compared to just 22% and 18% of expats in France and Spain respectively.”