Expats in Germany not threatened by the eurozone crisis

Published:  7 Nov at 6 PM
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In spite of the effect on expats in other parts of the eurozone, British expats in Germany are unconcerned about its impact on their standards of living.

The recently released HSBC Expat Explorer 2012 survey reveals that expats living in Germany have a vastly more positive economic outlook than those in the rest of the EU countries. Over 90 per cent of migrants in Germany either have faith in the strengthening of the German economy or a belief that it will remain unchanged from its present position

.Furthermore, 86 per cent of those surveyed stated they were happy with the economy’s current state, with 61 per cent convinced that the country was heading in the right direction. The figures compared favourably with a global average of 37 per cent, and 67 per cent of expats in Germany said their chosen country enjoys strong political stability.

The report justifies the response by those in Germany as representing a different style of expat, as most heading for Germany are workers relocating to better jobs at a higher salary as against those moving for a better quality of life. Spain and France, in contrast, are popular destinations for retirees and expat experiencers.

In Spain and France, 32 and 41 per cent of expats respectively are retirees, with only 7 per cent of those in Germany no longer working for a living. Over 55 per cent of expats in Germany migrated as a career move, compared to 29 per cent in Spain and 33 per cent in France.

Salaries of 23 per cent of expats in Germany were over £100,000, a huge contrast to the 8 per cent in Spain who earned similar amounts. The IT, manufacturing and construction sectors paid the big money in Germany, with most expats arriving from English-speaking countries.
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