The Wealthiest Nations

Moscow, Russia, 25 June 2009.

Moscow, Russia, 25 June 2009. EconomyWatch.com has long tracked the worlds largest economies and the richest economies of the world . But in today’s global economy, there is a nation-within-a-nation of wealth in many countries; that of the expatriate workers or expats.[br]

Expats are often posted by major global multi-national corporations (MNCs) or financial institutions, although there are many entrepreneurs and adventurous spirits among their midst (and amongst EconomyWatch.com’s community too). Expats are a barometer of economic development and a measure of changing fortunes, as they seek wealth both for their companies and for themselves.

HSBSC bank has just launched its 2009 Expat Explorer survey of global expat attitudes, and this gives us a fascinating insight into both the wealthiest nation (of expats) and the wealthiest nations (for expats).

The results may surprise you.

Wealthiest Countries for Expats

1. Russia
2. Qatar
3. Saudi Arabia
4. Hong Kong
5. UAE
6. Singapore
7. Japan
8. Bahrain
9. India
10. Malaysia
11. China
12. Switzerland
13. South Africa
14. Vietnam
15. Thailand
16. Mexico
17. United States
18. Brazil
19. UK
20. Netherlands
21. Canada
22. Belgium
23. Germany
24. Australia
25. Spain
26. France

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We hear a lot about the troubles in Russia – collapsing oil revenues, corruption, organised crime, creaking infrastructure and so on. But these problems also represent massive economic opportunities, as the biggest country in the world by size looks to drag itself into the twenty-first century.

Overall the wealth rankings indicate that opportunities to grow rich are moving east, to the Middle East and Asia.

Together with Russia in the top 10, there are 4 Middle Eastern countries, topped by Qatar in second place, and 5 Asian countries, topped by Hong Kong in fourth place.

The bottom 11 spots, meanwhile, are all taken up by European and American countries, with France and Spain languishing at the bottom. In general expats in Europe and the US are feeling poorer and many want to go home, Asian expats are tightening their belts a bit but see massive opportunity, while Middle Eastern expats continue to spend like it was 2007.

Other rankings published:

 

Best Countries in Which to Save

 

1. Saudi Arabia
2. Russia
3. Qatar
4. India
5. UAE
6. Hong Kong
7. Bahrain
8. China
9. Vietnam
10. South Africa

 

Best Countries for Luxury

 

1. Bahrain
2. South Africa
3. Saudi Arabia
4. Hong Kong
5. Singapore
6. Malaysia
7. Qatar
8. UAE
9. Switzerland
10. Vietnam

 

Best Countries for Income

 

1. Japan
2. Russia
3. Hong Kong
4. Singapore
5. UAE
6. US
7. Switzerland
8. Malaysia
9. India
10. UK

Best Countries for Disposable Income

1. Qatar
2. Russia
3. Japan
4. UAE
5. Saudi Arabia
6. Hong Kong
7. Singapore
8. Malaysia
9. Bahrain
10. India

Bjorn Borgisky, EconomyWatch.com