Expatriate
Candlefocus EditorFor one, expats may choose to relocate for work reasons, seeking a higher salary, better career prospects and a new work environment. In today's globalized world, multinational companies have an ever-growing presence in different countries and employ expats from around the world to fill key positions. Similarly, people who focus on international business or finance may choose to move to international financial hubs, like London or Tokyo, meaning they will be closer to their clients and have greater access to international markets.
Some expats move abroad for family reasons. In this case, for example, a father may be offered an overseas role with their company. Though the family may have to sacrifice their familiar home life and routines, they can also benefit from the cultural experience that comes with living in a different country. Plus, if their employer offers a generous expat benefits package, they may even be able to live a more comfortable lifestyle than they could at home.
More recently, some people have been choosing to take their retirement abroad. This way, they benefit from a higher quality of life, lower costs of living, and a more relaxed lifestyle. Some retirees chase the sun, relocating to countries with warmer climates or opting to become part-time snowbirds and move to the likes of Florida or Arizona over the winter months. Others look to maximize the return from their pension by taking it overseas, with popular locations including Costa Rica, Mexico and Panama.
Living abroad can pose numerous challenges for expats. They may have difficulty navigating the complexities of local laws and administrative procedures, as well as language barriers. Plus, it’s more difficult for expats to travel freely due to the need for visas.
What is clear is that living overseas can be a thrilling and highly rewarding experience for expatriates who properly plan and prepare for their new life abroad. The global presence of large companies and rapidly advancing technologies mean that it is easier than ever for people today to become expatriates. Despite the challenges that are commonplace with expatriate life, there can be great rewards to be gained.