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, employees are sent abroad in the form of expats 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 working and living foreign environment.Moreover, in recent days students are also becoming enthusiastic to achieve higher education from foreign countries like the United States which makes the expats market more demanding in the North-America region during the projection period of 2017-2025.
Rising number of people moving to North-American countries for an adequate job, creates a huge growth opportunity for the expats market in this region. Moreover, younger expatriates moving to countries like United States and Canada to achieve higher education, makes the market more demanding in North-America. The increasing number of foreign workers which include engineers, IT specialist, doctors, knowledge workers and others in the United States, creates a positive impact on this market. Further down, countries in North America provide better educational experience and scope for students that help in generating positive life chances. Increasing number of international business travelers taking short trips to countries like the United States, Canada and Mexico for negotiations, training, meeting and conferences, is expected to drive the market growth of expats in the North-America region over the next eight years.
The North-America expats market in report is segmented byexpat type which includes students, individual workers, corporate transferees, retired and others. The North-America expats market has been moreover segmented by country wise which includes theU.S., Canada and Mexico.
However, factors such as homesickness, lack of understanding the international language and cost of travel are some of the major factors which may affect the growth of North-America expat market over the forecasted years.
North-America Expats Market: By Expat Type
North-America Expats Market: By Country