As global recession looms, expat marketers are wondering which markets will be left after the storm.
While some traditional expat markets seem close to collapse, others attract more and more foreigners, offering new business opportunities for expat service providers.
Our team at ExpatMarketing.com has rated some of the largest local expat markets by attractiveness. The assigned market score, portrayed by up to four stars, reflects how important the given expat market will be in the near future.
Expats come in all shapes and sizes, but surveys have shown a few characteristics stand out. For a long time, expats have tended to be better educated and wealthier than other target groups. However, recent data suggests that there is also a shift of wealth – away from traditional expat markets towards emerging markets.
Indeed, HSBC’s 2010 Expat Explorer Survey found growing markets for luxury goods in emerging economies such as South Africa and the UAE. According to the HSBC data, 61% of expats reported they were saving more than in their home country, though interestingly another 43% said they were also spending more and 38% that they were investing more.