The term expat is a shortened form of expatriate which refers to a person permanently or temporarily staying in a country other than his or her citizenship. The term expat is usually referred to skilled workers or professionals sent overseas by their employers. However, expatriate is also referred to retirees who have decided to live their rest of life outside their fatherland. In recent days, many organizations have started doing business overseas, and therefore they need to send expats abroad to join a strategic alliance or open a new venture with a foreign-based company. Mainly, nowadays multinational companies sent their employees abroad for one to five years on a temporary assignment. Organizations generally have distinct policies for employees who are on permanent transfers and on short term assignments.Employees selected for an expat position are given pre-departure training. The purpose of this training is to enhance the employees present work skills and adjust to the foreign working and living environment.Moreover, in recent days students are becoming enthusiastic to achieve higher education from foreign countries like the United Kingdom, Germany and Spain, which makes the expats market more demanding in the Europe region during the projection period of 2017-2025.
Rising number of foreign travellers moving to European countries for an adequate job and to lead a better lifestyle, creates a huge growth opportunity for the expats market in this region. Moreover, multinational corporations present across the globe sends their employees to European countries for training and to attend meetings and conferences which is further expected to augment the Europe expatriates market. The increasing number of foreign workers such as engineers, IT specialist, doctors, knowledge workers and others in the United Kingdom, Germany, Spain, and Italy creates a positive impact on this market. Further down, expats believe that cities of London is among the best places to begin a business, due to its strong economies which would let them improve their standard of life and also allow them to take on new challenges.Countries like United Kingdom, Spain, Germany attracts expats to earn higher wages and also allow them to learn new skills. These major benefits drive the growth of the Europe expats market during the projection period of 2017-2025.
On the basis of expat type, the market has been segmented as students, individual workers, corporate transferees, retired persons and others. The Europe expat market has moreover been segmented by country which includes U.K., Spain, Germany, Italy and Rest of Europe.
However, factors such as lack of understanding the international language, relocation and cost of travel are some of the prime factors that may affect the growth of Europe expats market over the next eight years.
Europe Expats Market: By Expat Type
Europe Expats Market: By Country