There are two reports flying around the airwaves today that appear to have some conflicting themes:
Beware the Brits!
The Select Property site warns (21 May 2008) that the Brits are coming to the UAE in an article entitled, ‘British Expatriates flock to the United Arab Emirates’. It says:
“The British community of expatriates in the United Arab Emirates are at the head of an exodus of two million from the UK in the last decade.”
“The population of British expatriates in the United Arab Emirates has doubled to about 120,000 residents this year, compared to 60,000 residents in 2006. The booming economy and increase in tourism in places like Dubai and Ras Al Khaimah is attracting the British in huge numbers and the country is becoming the world's fastest growing community of British expatriates.”
Beware the Costs!
An article at Emirates Business 24/7 entitled, ‘Expatriates in U.A.E. Spend Less as Prices Surge’ says:
“Expatriates in the United Arab Emirates are spending less as concern over inflation prompts them to save more, citing the regional director for Zurich International Life.”
“About one-third of foreigners working in the country said in a survey that savings and investment are their top financial priorities, according to the newspaper. Two- thirds of expatriates said economic conditions are prompting them to reconsider their financial priorities.”
Dr. Geoff Pound
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