Low taxes and a quality lifestyle are attracting expats to extend their stays in Gulf state countries, according to a new study.
Although tax and money are important to expats, all-year sunshine and an upmarket lifestyle are also benefits that feature as many expats consider semi-retirement in the region.
Around eight in 10 western expats are from Britain, and their average stay in the Gulf stretches to almost 13 years.
Arab expats from outside the Gulf tend to remain for nearly 17 years and Indian expats average 18 year stays.
The information was revealed in the Middle East Asset Management Study 2015, from financial firm Invesco.
Mobility is a myth for expats
The survey also shattered the idea that expats like to move around regularly.
“This report is aimed at financial services firms and one of the myths that seems to have been overturned is expats do not like to stay in one place too long and prefer a mobile lifestyle,” said Nick Tolchard, head of Invesco Middle East.
“However, quite the opposite seems true is they find somewhere they like to live, and the high salaries, low tax and other benefits of the Gulf states seem to encourage expats to stay for some years and sometimes even into retirement.”
Other attractions of the Gulf States highlighted in the report include a good work/life balance and a stable political and economic environment.
The report also noted that the countries around the Gulf could do more to make long-term settlement easier for expats – and if they did so more would likely stay on.
Call for easier immigration
“The research shows the Gulf has a well-established retirement community who have lived in the region for 20 years or more,” said Tolchard.
“But many expats told us that they would consider living in the Gulf for longer if the governments made some effort to make immigration and residence easier for outsiders.”
The main reasons why expats leave the Gulf are losing jobs and retirement, says the study.
Expat families are also more likely to stay in the Gulf as education opportunities improve, and ongoing investment should encourage more families with school age children to settle in the region.
