Year in Review: 2018 Expatriate Trends

Mar 1, 2019, 16:28 PM

In 2018, IMG provided international private medical insurance benefits and services to more expatriates than ever before. In total, IMG’s line of Global Medical Insurance products covered expats residing in over 200 countries across the world.

IMG’s Top Expatriate Residence Locations

IMG’s expatriate members were most likely to reside in one of the following countries: China, United States of America, Mexico, or the Philippines.

Substantial growth was seen in the number of IMG members residing in China and it’s easy to see why. According to InterNations, expats living in China report a high satisfaction with their careers, financial situation, and the economy. The strong economy means that many career and income advancements are available, making China a hotspot for the professional global citizen. While the average expat living in China makes more money than most expats in other countries, InterNations reports that the work-life balance continues to be a struggle in China. The low end of the average work week is reported at 50 hours, and it can be as high as 80 hours.

Younger Expats Taking Advantage of Technology Careers

In 2018, the majority of IMG’s expat members fell between the ages of 24 and 44, which closely aligns with data from HSBC Expat that says more than half of working expats are younger than 34 years old. Many of these young professionals relocate because of the advancements in mobile technology, opportunity for different types of work assignments, and a focus on equality and diversity.

Mobile technology is making it more possible for employees to work remotely. Companies are being forced into becoming more agile and focusing on ways to include automation to manage mobility. As companies continue to become more agile, they’re also much more flexible regarding different work and living situations. These arrangements are especially attractive to millennials, who are seeking to explore the world while also building their career.

Trends to Expect in 2019

According to Finaccord’s annual report analyzing the global expatriate market, the number of expatriates continues to grow every year and now totals well over 60 million worldwide. Finaccord predicts this trend to continue over the next three years with total expat numbers eventually approaching nearly 90 million by 2021. As millennials continue to enter the workforce, the trend in younger expats will likely continue to increase. Similarly, according to the HSBC Expat Explorer Report, the number of female expats is expected to double in 2019 compared to 2018.

If you find yourself preparing to make the leap to explore the world and live abroad, consider getting a quote for IMG’s Global Medical Insurance to protect your health while living abroad.

Through this website and our social media updates, we are providing content, hyperlinks and references to information and articles, some of which has been created by third parties ("third-party content"). International Medical Group, Inc. and its parents, subsidiaries and affiliates ("IMG") neither endorses nor is responsible for the accuracy or reliability of any information, statement, opinion or advice within this third-party content. It is the responsibility of every user to evaluate the accuracy, currency, completeness or usefulness of any information, statement, opinion or advice within the third-party content. Please seek the advice of professionals, as appropriate, regarding the evaluation of any specific information, statement, opinion, or advice within the third-party content. Any concerns regarding such third-party content should be directed to the third-party. You acknowledge that under no circumstances will IMG be liable for any loss or damage caused by reliance on this third-party content.