A large majority of expatriates would rather continue living in the UAE, in spite of the global recession, than return to their countries of origin, a new study suggests.
Eighty-two per cent respondents in the Expat Explorer study said they had no plans of moving back home, while most had continued saving money in spite of dour economic conditions.
"Despite the downturn, UAE expats continue to enjoy a good standard of life and are able to continue to save, which [is] a great advantage in the current economic climate," said Paul Say, head of marketing and communications for HSBC Bank International, which conducted the three-part study.
The paper, which was released today, surveyed 3,100 expatriates across 50 countries and found that expatriates in the UAE generally had more disposable income left over every month than those living in other countries. More than 80 per cent of respondents said they were able to save more after moving to the UAE as compared to their home country.
The UAE ranked fifth among a list of 26 countries considered popular among expatriates in terms of salaries, the ability to save and the amount of disposable income. Russia was placed first, followed by Qatar, Saudi Arabia and Hong Kong.
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Thank You for Banking with Us
Director: Laila Abbas
Starring: Yasmine Al Massri, Clara Khoury, Kamel El Basha, Ashraf Barhoum
Rating: 4/5
The specs
Price, base / as tested Dh12 million
Engine 8.0-litre quad-turbo, W16
Gearbox seven-speed dual clutch auto
Power 1479 @ 6,700rpm
Torque 1600Nm @ 2,000rpm 0-100kph: 2.6 seconds 0-200kph: 6.1 seconds
Top speed 420 kph (governed)
Fuel economy, combined 35.2L / 100km (est)
FFP EXPLAINED
What is Financial Fair Play?
Introduced in 2011 by Uefa, European football’s governing body, it demands that clubs live within their means. Chiefly, spend within their income and not make substantial losses.
What the rules dictate?
The second phase of its implementation limits losses to €30 million (Dh136m) over three seasons. Extra expenditure is permitted for investment in sustainable areas (youth academies, stadium development, etc). Money provided by owners is not viewed as income. Revenue from “related parties” to those owners is assessed by Uefa's “financial control body” to be sure it is a fair value, or in line with market prices.
What are the penalties?
There are a number of punishments, including fines, a loss of prize money or having to reduce squad size for European competition – as happened to PSG in 2014. There is even the threat of a competition ban, which could in theory lead to PSG’s suspension from the Uefa Champions League.
Singham Again
Director: Rohit Shetty
Stars: Ajay Devgn, Kareena Kapoor Khan, Ranveer Singh, Akshay Kumar, Tiger Shroff, Deepika Padukone
Rating: 3/5
