In a study conducted by global wealth and asset manager British Lombard Odier, the top two reasons given by Western expatriates for relocating to the UAE are the country’s high quality of life and its alluring investment opportunities.
The survey revealed that over 40% of Western expatriates moved to the region primarily because of its high quality of life and investment opportunities. Younger HNWs mainly relocate for business, such as establishing a start-up (25%) or taking advantage of the robust legal and regulatory framework in the area (29%) to further their careers. According to the study, which focuses on the needs, objectives, and experiences of HNW expatriates living in the area, 25% of expats also expressed a desire to settle permanently there. This percentage increases to 49% among those 51 years of age and older.
Additionally, 25% of foreigners said they would like to live in the area permanently; this number jumps to 49% for those over the age of 51. According to Amer Malik, head of Lombard Odier Group’s Middle East International, “the growing HNW expatriate community is increasingly seeking sophisticated and trusted advisors to help strengthen their knowledge across various issues” in the UAE’s dynamic wealth management landscape.
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