In a global comparison of countries conducted by HSBC's
Expat Explorer Survey for 2013, the Cayman
Islands ranked fourth out of all countries when it comes to the
best place for expats to thrive, beaten only by first-place China,
second-place Germany, and third-place Singapore. In addition,
it was ranked number one as the friendliest place in the world to
live for expats.
The largest global expat survey of its kind, HSBC's Expat
Explorer Survey asked 7,000 expats questions relating to
their finances, quality of life, and what it’s like to raise
children abroad — all key decision-influencing issues when it
comes to choosing the right overseas environment in which to live
if you are an expat.
The Expat Explorer Survey highlights some important
advantages that positively influence professionals from overseas
making the decision to move to this jurisdiction. Often
professionals who look to move overseas will have families, and so,
quality of life for the entire family within the new country is of
paramount importance. The Cayman Islands ranks highest for
the 'Setting Up' criteria in the Expat Experience league
tables, which means expats based here rank Cayman higher than
expats from any other country. This includes a range of
setting-up measures, including traveling around locally, getting
used to the local culture, making friends, finding accommodation,
and organising healthcare.
In addition, the survey highlighted how a higher proportion of
expats (67%) agreed Cayman was an easy place to organise their
finances, compared with the global average (51%). As a
result, seven in ten (70%) expats in the Cayman Islands stated they
enjoyed a higher quality of life — almost twice the global
average (45%). The survey also indicated Cayman remains the
friendliest country in the world, with eight in ten expats rating
the destination as an easy place to make friends — the
highest out of all countries worldwide.
The survey puts the Cayman Islands in an extremely favourable
light when compared to its main rivals. Not only did Cayman reach
an extremely high level when compared to other countries globally,
its offshore financial centre competitors, such as Bermuda, were
not even mentioned in the rankings' tables. This confirms the
Cayman Islands is in a league all of its own when it comes to
choosing the right environment in which to live and work. The
Cayman Islands is highly prized for its incredibly high level of
quality of life for all residents, expats, and locals alike.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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