Are Fickle Finances Seeing Expats Return Home?

Coronavirus has crushed the dreams of many expats living overseas. Business and lifestyle news outlet Forbes reported recently that many expats “are no longer living the dream”. This has led to a mass exodus of expats moving back – or preparing to move back – to their home country as a result of an uncertain financial future.

The Gulf is one of the most highly impacted areas. Known for its extremely high population of expats, it was a surprise to see that the pandemic had hit the UAE hard, with 900,000 jobs set to be lost according to FEDEMAC News (Week 30).

Zahra Clark, Head of Tiger Recruitment in the region, says she is noticing less expats in the bars and on the beaches. “I’m starting to see less expats around and it’s very noticeable.  Multinational firms at the moment have massive hiring freezes on.”  An internal recruiter at BP added that it is now simply too expensive to hire expatriates.  “An expat salary is four times that of a local,” they said.

However, it is not just the likes of Dubai and other Emirates that have seen expat numbers dwindle. Hong Kong has seen record lows of visa issues, with requests for professional working visas having dropped by 60%. Singapore has taken a different approach by simply denying employment passes to safeguard jobs for Singaporean citizens. The majority of expats returning from overseas are heading back to home to the UK, USA, Australia, and New Zealand.

Economic migrants

The majority of expats move abroad for an increased quality of life and an increased salary or a lower costs of living. With countries around the world having to introduce strict pandemic rules, such a lockdowns and curfews, many living overseas have claimed the reasons they moved abroad have now dissapeared.

With expats being made redundant overseas and quarantine rules seeing individuals and families stuck in their homes for weeks on end, many have hopped on the first flight home available to them.

Some expats who managed to keep hold of their jobs abroad have eventually handed in their notice and moved home. Many workers were finding a rise in anti-foreigner sentiment in teams, with nationals turning against expats when locals were furloughed or made redundant ahead of expats.

Moving home from overseas

Leaving what you thought was your dream life abroad can be a difficult decision to make. Getting your possessions from A to B doesn’t need to be. At Britannia Movers we offer international removals wherever you are in the world. Whether you are moving abroad from the UK or are returning home from overseas, Britannia Movers can provide a seamless and hassle-free service.

Britannia Movers International are a member of FIDI, the largest global alliance of independent quality international moving companies. This means we have partners in every corner of the globe ready to help you move efficiently back home. Even better, you will have an international Britannia Movers agent who will be able to handle the logistics and paperwork of the entire move for you. Want more information? Call 0845 600 6661 or get a quote today!