UAE Expats Report Improved Financial Well-Being in 2024

A recent survey by Hoxton Capital Management revealed that 95% of expats in the UAE feel their financial situation has improved in 2024.

Key contributors to this positive sentiment include salary increases (55%), investment portfolio performance (35%), property investments (30%), and growing pension pots (20%).

The survey, which included 2000 expats, highlighted that 85% moved to the UAE for better employment opportunities and quality of life. Despite rising living costs, expats remain optimistic, with 60% prioritizing savings, 45% focusing on investments, and 40% on property transactions.

Mercer's study also noted that salaries in the UAE are expected to outpace inflation due to high talent demand and economic growth. Financial tracking is primarily done through apps by 60% of expats, while 30% lack a financial adviser relationship.

Chris Ball of Hoxton Capital remarked on the resilience and adaptability of UAE expats, noting that 95% feel financially better off than last year compared to only 60% globally.

This reflects a growing confidence in the UAE's economic environment, despite challenges.

News Source: Khaleej Times