Expats in the Middle East enjoy the greatest standard of living globally. Almost three-quarters (72%) of expats in Oman saw an increase in their disposable income as a result of moving. This also helps them boost their long-term planning, with 76% being able to save more. One in four (25%) say they living in Oman made it possible for them to own additional property. Qatar and Saudi Arabia also shine for the Middle East: 76% and 68% respectively of expats there enjoy greater disposable income than they did in their home country.
The region is also home to the second biggest group of expats with annual incomes over USD200,000 (16%, behind Asia Pacific at 19%).  These highest earning expats face increased financial challenges when living abroad: nearly half (46%) say their finances have become more complex as a result of moving, which compares to a global average of 30%. With a low tax environment, countries in the Middle East offer this group with an unrivalled opportunity to simplify their finances: only 13% of expats in Oman and 16% in Bahrain have seen their finances becoming harder to manage as a result of moving.
Middle Eastern destinations are also appealing for younger expats (aged 18 to 34) from a financial point of view.  Three out of five (60%) of expats under 35 years of age increased their earnings after moving to Oman, while 65% receive an accommodation allowance from their employer. Qatar is the best place for young expats to step on to the property ladder: almost a third (31%) of young expats bought their first home while living in the country. Oman is close behind, with almost a quarter (22%) of young expats in the country able to afford their first property.
Dean Blackburn, Head of HSBC Expat said, “Managing your finances is a key part of living abroad, whether that is sending money back home, saving for the future or, for long-term expats, getting a foot on the housing ladder.
“As an expat, you often need to navigate these financial issues in not one, but two or more countries. That can be difficult but shouldn’t be impossible – no matter where your expat journey takes you, detailed planning and professional advice can help you to prosper abroad.
“Many destinations offer financial rewards too. Earning potential can be higher and living costs lower for instance. That can mean building your savings while still enjoying more of the finer things in life. With the right financial planning, you will spend less time worrying about money and more time enjoying the expat experience.”
The Expat Explorer survey is commissioned by HSBC Expat and conducted by YouGov. Now in its eighth year, it is the largest and one of the longest running global surveys of expats, with 21,950 respondents sharing their views on different aspects of life abroad, including personal earnings, careers, experience and family.