Cayman Highest Ranking Offshore Centre In
HSBC Expat Survey
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.
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