Spain moves down several positions regarding expats favorite countries

Spain moves down into 14th place from the previous 5th position regarding favorite countries for expats

By Agustín Sáez.

HSBC bank issues every year their Expat Explorer Survey, aimed to show expats preferences when they are going to choose a concrete country to move to, and what factors are considered by them. The last survey was issued by the end of 2021, and shows the last wishes expressed by a 46 expats living abroad.

Unfortunately, this last poll shows that Spain has moved down many positions comparing with previous years, so we must wonder, why?

What factors are taken into account by expats?

La imagen tiene un atributo ALT vacío; su nombre de archivo es madrid-g2d10222c6_1920-1024x678.jpg
Gran Vía, Madrid

This survey assesses different and multiple important aspects which are considered by expats when they plan to move abroad. These are the most important:

  • Life in the country (wellness, work-life balance, weather, etc.).
  • Labor aspirations (job conditions, salary, holidays, etc.).
  • Future outlook (work promotion, ambitious, settlement, etc.).

Spain assessment: Worse valued, but in the TOP 3 of expats favorite countries worldwide in terms of wellbeing

Ciudad de la Ciencia, Valencia

This last survey has not been the best one for Spain, because it shows it has moved down into 14th position from the previous 5th. Mainyl, expats do not recommend Spain in terms of aspiring aspects. The reasons are clear: Covid19 crisis, labor situation, uncertainty along the lockdown, travel restrictions, companies’ bankruptcy, etc. Health emergency hit Spain at the beginning of the crisis, taking some measures that affected our economic market in a straight way, so of course this had an impact from an expats perspective.

However, we are still the 3rd favorite country in terms of wellness, just overcome by Switzerland (1st) and New Zealand (2nd), which means expats value quality of life, culture, location, work-life balance and culture offered in Spain.

On the other hand, 9 out of 10 expatriates living in Spain would recommend moving to our country, which proves foreigners living in Spain are enjoying their experiences here, including after covid19 crisis.

Good future

Gran Vía, Madrid

In spite of the previous numbers, it is expected Spain will scale positions in the next HSBC Expats Explorer Survey, because lockdown is over, travel restrictions are being gradually lift in EU, our labor market is improving in a very fast way, and the European recuperation plan after Covid19 is already here, which will help to create job vacancies.

Moreover, we must highlight new realities after this health crisis, specially concerning remote workers. Regarding this, Spanish government has designed a residence and work permit aimed to those digital nomads who are able to work from any corner around the globe, using electronic means, which will probably enter into force along this year.

One thing is sure, international talent is an essential factor in terms of competitiveness and economic growth, and Spain is playing the game to get the best one, getting a very good assessment from expats around the world.

Fdo. Agustín Sáez

CEO of BLC Legal Consulting.

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