Globalisation, paired with modern transport systems and communications tools have brought a new level of choice and flexibility to individuals in terms of relocation. British expats continue to make up a large percentage of those that choose a life abroad and are spread across a huge variety of locations.

Understanding such a unique and diverse group of individuals is a difficult challenge and regional expertise is essential. HSBC Bank International are strengthening their claim in this area through the Expat Explorer survey, which has given them a unique perspective into the global expat picture.  In 2009, over 3,100 expats helped Expat Explorer become the world’s biggest project dedicated to learning about life as an expat in countries across the world.

Only through undertaking such analysis could HSBC Bank International get a better understanding of British expats and the life they lead abroad.  They have been able to understand more about expat habits, learning that expats integrate well but can also struggle with learning the local language.  HSBC Bank International also know that shares, property and managed funds are the investment vehicles of choice and that despite the effects of the credit crunch, the vast majority (91 percent) of British expats said that they hadn’t considered a move home.

What remains clear is that expats are more exposed than most to international economic trends, particularly as they often manage money in a number of currencies and in a range of jurisdictions.  Whilst managing money across borders presents a greater set of challenges, it also provides opportunities. Offshore banking, for instance, allows expats to protect and grow their wealth through leveraging tax efficiencies and access to investment opportunities that may not be available from a domestic bank.

At HSBC Bank International, knowing more about the demands and desires of such a unique population allows them to make their expat services the very best. Offshore banking isn’t just about one specific product – HSBC Bank International’s Relationship and Wealth Managers are trained specialists in their fields. Specialist insight means that they know the opportunities expats may be considering and the challenges they may be facing, before the conversation even begins.

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