In the first part of our series about ‘Who Cares About Dubai Dying – Where’s Next?’ we looked into the first handful of countries and destinations around the world where there are emerging pockets of interest for expatriates who were previously living and working in Dubai, or who felt they had missed Dubai’s money boat.
We examined what’s on offer in Eastern Europe and Asia, but today we’re going to be examining emerging nations in South America and the Middle East – the latter is perhaps perfect if you’re already living in Dubai and you don’t want to have to travel far when it comes to relocation! Whereas South America is alive with all sorts of possibilities…
Because the economy in Dubai is in a dire state at the moment – despite Abu Dhabi’s partial bailout - it’s not necessarily the best bet for expats seeking new opportunities for earning or investing for a future fortune…but we hope the handful of featured nations to follow may inspire you to look elsewhere for your future prospects. So, let’s all say goodbye to Dubai and look at the emerging destinations in South America and the Middle East for expats leaving Dubai and for those who never wanted to go there in the first place!
If you are interested in escaping your current life, going in search of exciting employment opportunities, or looking for openings abroad where you can perhaps start a new business, there are plenty of countries out there that are unsaturated with foreigners and where you can still find a place and make your mark. What’s more, many of these countries have openings for those looking for investment opportunities too…
South America
Brazil - Brazil is a perfect example of a nation with everything going for it for expatriates seeking the maximum in terms of opportunity. From a purely ‘lifestyle’ point of view it has an emerging tourism scene meaning its stepping up its offerings, improving its infrastructure and generally becoming more appealing all the time which can translate into a great quality of life for expats – depending on where they are living of course! There is also an expanding base of expatriate interest in the country making it easier to settle in, make friends, adapt and adjust too.
On the economic side of things, everyone’s investing in Brazil! Ford have committed a further $2.3 billion for example, this is in order to increase output in the nation because demand is increasing. The company has made profit for the last 23 quarters in a row in Brazil proving just how strong consumer demand is! This is a reflection of the growth in underlying wealth in Brazil – which is a booster to the country’s appeal for would be expats and/or investors. Volkswagen is following hot on Ford’s heels and investing the same amount for the same reasons.
Investors should note that Brazil is still quite a volatile punt however, with its fortunes untested in terms of long-term durability and sustainability. That said, it is a country that has it all – from beautiful beaches to beautiful people, a stunning climate to a stunning potential economic climate, investment opportunities and a great lifestyle.
Argentina - Argentina is far more raw in terms of its development compared to Brazil – but there are therefore perhaps even more opportunities available to the pioneering expat. It’s a popular choice with Americans already, but Britons are catching up and getting in on anything and everything from wine production to beef farming to tourism facing projects. Argentina is a vast, diverse and stunning nation – it has a lot to offer those going in search of a new life abroad – and for those willing to really work hard and take a bet on a nation, it has investment potential as well.
Real estate in the country is affordable (understatement), tourism is in a fledgling state and you could perhaps make a killing in either field. Look a little outside the box and there are import/export options here, as well as potential for manufacturing and development. Issues expats may face with the nation relate to taxation and infrastructure, accessibility and language for example…but then before Dubai boomed it had similar issues affecting it! Argentina is raw and ripe or exploration – perhaps take a closer look?
Middle East
Abu Dhabi - If you don’t want to leave your home in Dubai or you don’t want to turn your back on the excellent standard of living you can enjoy in the Middle East, then what about considering Dubai’s banker, Abu Dhabi. In news out this week it’s been revealed that Abu Dhabi is going to bail out its neighbour to the tune of $10 billion, proving among other things that Abu Dhabi is still rich! You could perhaps find employment in Abu Dhabi and commute weekly back to your property in Dubai?
Alternatively you may like to relocate fully to the emirate. Abu Dhabi is building 18 new schools next year – quite some investment into not only the future of the nation’s population, but the economy because education is a money spinner. This investment commitment also means there may be openings for international teachers, and places for expats living in Dubai to school their children. It also suggests the construction boom in Abu Dhabi is only just beginning – perhaps heralding a way forward for those seeking their fortunes from real estate in the UAE.
Abu Dhabi is nowhere near as liberal as Dubai – but then perhaps it’s better for it? It’s certainly not a location that has ‘prostituted’ itself to the West in any way, nor is it one that has been eroded culturally speaking by a large influx of international citizens to the point at which there has been a local backlash. You may find life in the emirate suits your tastes – or that you can at least deal with it as you further your investment pot through hard work, careful investment commitments and a healthy salary? We’re not saying this is the best place in the world to live – but it is perhaps a place to consider if you liked what Dubai could offer you and you want to swap the lifestyle there for somewhere where it’s more sustainable.
Qatar - Qatar has one of the largest and fastest growing economies in the world – yes, it is built from oil and gas, but it is also a nation with a sustainable basis of alternative economic sectors. These all provide employment opportunities to an international base of expats…so Qatar is perhaps a fantastic location to consider if you’re seeking well paying employment in a location that welcomes everyone from all backgrounds. Qatar is more well balanced than Dubai – not just economically! And expats living in the likes of Doha find they have as good a quality of life as those in Dubai for example.
The one thing about Doha that’s particularly positive in comparison to Dubai is that despite the fact it is advancing and developing, the rate at which it is doing so is not overwhelming nor is it therefore unsustainable. This means that the pace of life feels a bit more realistic and laid back, and the opportunities currently available are possibly likely to remain for the longer term!
As you can hopefully see from our round up of potentially hot destinations for expats escaping Dubai – if you want opportunity, emerging potential, plenty of wealth, investment opportunities and/or a great quality of expat life, there are places in the world that will welcome you and fulfil your dreams and match your expectations. Just because Dubai’s fortunes have died, it doesn’t mean your have to die with it!
