Get Adobe Flash player
A comprehensive round-up of the latest business news covering all sectors within the Isle of Man’s diverse and dynamic business environment. CHANNEL ISLANDS AND ISLE OF MAN SCORE WELL IN HSBC ANALYSIS OF BEST PLACES IN THE WORLD TO WORK Expats pursuing careers in Guernsey, Jersey and the Isle of Man benefit from a better work culture, work-life balance, job security and earnings prospects than in many other locations around the world, according to newly analysed data from HSBC. B uilding on the 11th annual HSBC Expat Explorer Survey, which was launched in November last year and looked at a broad number of issues impacting those living and working overseas, a fresh analysis of the data, published this month, looks specifically at career opportunities in key expat markets. Overall, the survey of more than 22,000 expatriates around the world revealed that career ambition is the number one reason why people take the plunge and settle abroad, and that Germany is top of the list for ambitious globetrotters looking to further their careers, ahead of Bahrain and the UK. Expats in the islands get more involved in the local community, with 34% saying they participate in more local community activities since moving, compared to 18% globally John Goddard, Head of HSBC Expat, commented: “We wanted to understand what makes people tick when it comes to working abroad, so we conducted a fresh analysis of the world’s largest survey of expats. By looking at a range of criteria from career progression and earnings, through to work-life balance, we were able to explore the world’s best destinations for a career abroad. With the methodology requiring at least 100 respondents from each country, figures from Guernsey, Jersey and the Isle of Man were incorporated into the UK data for the overall report. However, by combining responses from the islands alone, the data found that the Channel Islands and Isle of Man score well against global benchmarks. In particular, the survey found that the approach to work in the islands is appreciated by expats, with 77% saying their work-life balance is better than in their home country, 26% above the global average, whilst 58% considered the work culture to be better than their home country, 10% above the global benchmark. The analysis suggests that working as an expat in the islands is also very rewarding, with 63% saying that their earnings prospects are better than in their home country, 13% higher than the global average, whilst 61% of expats felt that job security is better in the islands, 23% better than the average globally. A deeper dive into the figures also found that:; Expats in the islands are prepared to give the islands their endorsement, with 76% saying they would recommend the islands to fellow expats as a place to move to, above the global average of 65% Expats work in the islands for longer, with 68% having been an expat for over five years, compared to the global average of 51% 6 | John Goddard “Interestingly, Guernsey, Jersey and the Isle of Man performed really well against the global figures when we took a closer look at responses from the islands. It’s clear that they offer an attractive work-life balance and the potential for a rewarding career. Expats working in the islands are also really proud to be working there and are quick to become fully engaged in the local community, with more than three-quarters likely to recommend the islands to other expats – that’s a fantastic form of advocacy.” Career ambition is the number one reason why people take the plunge and settle abroad