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Expatriates Prefer to Stay in Middle East

Out of the 22,708 respondents to the regional online poll conducted by job site company Bayt.com, 36 per cent of expatriate professionals said they see no reason to leave their host country despite the downturn; 15 per cent said they prefer to move back home; 28 per cent feel they have no choice but to return home; and 21 per cent said they would consider moving to a new country, as an expatriate.

When asked how long they think the crisis is likely to last, 25 per cent said they don’t expect to see improvements for at least 36 months, while 42 per cent are optimistic that significant improvements will emerge within the next 12 months, the poll revealed.

Bayt.com sought to gauge employees’ views about how the current turmoil is affecting their work and finances, and their opinions about the likely duration of the crisis in their country of residence.

“The economic crisis is having a widespread effect on the Middle East, evidenced by a number of factors, including job losses and turbulent markets. But how it is actually affecting the people right in the heart of the crisis — the professionals and job seekers, is a rarely told story,” said Amer Zureikat, Bayt.com’s regional manager.

To cope with the crisis, 69 per cent of the respondents said they were saving more money. Of this group, 37 per cent said they were saving considerably more to safeguard their finances in case the situation worsens.

Over a quarter of those polled said they also were reducing their daily spending. However, only 4 per cent said they would move to a cheaper home, 3 per cent said they would sell their car, and 1 per cent said they would sell investments.

“The data reveal respondents are thinking in the short-term. It suggests [also] that while people are concerned about the crisis, they are willing to make small financial adjustments but are reluctant to make changes to their larger investments,” Zureikat said.

Given the unstable labor market, 30 per cent said they would stay in their current jobs for more than three years, whereas 22 per cent said they would consider moving within the next three months. Fifteen per cent said they intend to keep their jobs for at least six months and for as long as a year.

These findings differ from the results of surveys Bayt.com conducted before the crisis unraveled. In the earlier polls, employees said they intend to move jobs relatively quickly.

“Employees are more committed to their work and wanting to stay put for a longer time, perhaps because jobs are seemingly harder to come by than before,” Zureikat said.

If they do leave their jobs, 47 per cent said they would move to a different company in the same industry and in the same country; 19 per cent said they would transfer to a different industry but in the same country; and 34 per cent said they would move either to their home or to a different country.

“If some of the issues revealed are addressed, then employers could take steps to put themselves in a better position in the short-term to deal with staff planning to leave their job,” Zureikat said.

· rocel@khaleejtimes.com