Expat (from expatriate, derived from Latin ex patria 'outside the homeland') is a slang term for foreign specialists
Expats were asked to answer two questions and rate them on a seven-point scale: "How satisfied are you with your personal financial situation?" and "Do you have enough money to live on?" Without delving into statistical nuances, Deutsche Welle reported on the ranking, which includes 67 countries.
The debutant of the 2016 ranking was Taiwan. This island in the Pacific Ocean unexpectedly found itself among the leaders of the Personal Finance Index. Foreign specialists who came to Taiwan are satisfied with their financial situation, at least 85% of them. And only 2% said they were dissatisfied with the state of their personal budget.
Even more unexpected were the results of the survey of expats in Ukraine. Only 13% of respondents were dissatisfied with their financial situation. The global average was 17%. And 76% of foreign specialists in Ukraine were generally satisfied. Three-quarters of respondents believe they earn more than they need to live. As a result, second place.
Ecuador also made the top three. True, in 2015 it was in first place. However, expats living there are still satisfied with their earnings given the local cost of living. One in five admitted that they came to work in this country specifically for financial reasons.
Hungary is considered a clear winner in 2016. It managed to jump from 27th place into the top five. This leap was made possible largely thanks to 30% of expats who gave an excellent rating.
Vietnam rounds out the top five. And in total, the ranking of financial well-being of foreign specialists includes 67 countries.
Malta – like Hungary – is considered a winner in 2016. It managed to rise from 42nd place to 6th. And here there was not a single expat who was completely dissatisfied with their financial situation.
Expats in China also have no complaints. They earn enough to ensure a decent standard of living. True, there are significant regional differences. Most expats live in expensive megacities – Shanghai or Beijing.
In Mexico, expats are satisfied with the ratio of salary to local price levels. Moreover, the country is among the top 10 most favorite destinations. In 2016, Mexico ranked fourth in the overall ranking.
Expats living in India are also satisfied with their financial situation. Their salaries are incomparable to the income of the local population, and prices for many goods and services are several times lower than in Western countries. According to the German Academic Exchange Service (DAAD), foreigners spend between 350 and 400 euros per month on living expenses here.
According to the Expat Insider 2016 study, the list of 10 countries where expats feel most financially comfortable is rounded out by Kazakhstan. Russia, however, made the most significant leap. If in 2015 this country was in 60th place, in 2016 it was in 20th. 61% of expats are satisfied with their finances. One of the reasons, analysts believe, is the weak ruble. Expats most often receive salaries in foreign currency, or their salaries are tied to the current exchange rate. In 2016, it was clearly in favor of the euro and the dollar.