Put on your seatbelts, here we goJune 23, 2015 9:00
Expats stats don’t matter – we’re staying
Expat stats on salaries, expat stats on spending, expat facts on leaving – all irrelevant, according to Samuel Potter. With home countries going austerity crazy, most of us aren’t going anywhere.
October 21, 2010 5:19 by Sam Potter
The reason we’ll stay is we remain better off here in the Gulf than at home. Despite hopes of a recovery, many global economies remain in the mire, teetering on the brink of the dreaded “double-dip.” In the UK, for instance, (my home country), the Chancellor of the Exchequer had just unveiled the most brutal government budget of recent history. It will see upwards of half a million jobs lost in the public sector over the next four years, along with a swathe of cuts to public services. The ramifications of “austerity measures” like these are a matter of dispute, with some economists arguing they will push countries further into recession, and others saying they are unavoidable and will secure stability long term.
For those of us watching from afar, however, a few things are clear: mass state layoffs mean a crowded job market, making opportunities harder to come by. Mass public spending cuts must have a knock on effect to private companies engaged with the government, and the result of all this will certainly be a depressed and downbeat public mood (itself bad for consumer confidence and hence the economy).
Faced with such dark times in countries across the globe, most expats I know – myself included – will take an inflation-threatened Gulf, stumbling back to its economic feet, any day of the week. Even if we’re not quite as well off as we were. Wouldn’t you?
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