The fifth Global Professionals on the Move Report from Hydrogen Group, a leading global recruitment company, has found that the number of people willing to work abroad has doubled over five years (16% in 2010 to 35% in 2014), and 40% believe that there are no barriers to moving abroad.
While the US and UK were top on relocation wishlists, followed by Australia at no. 3, Singapore was the top Asian country of choice at no. 7.
In key Asian markets such as Malaysia, Indonesia and Singapore,
governments have tightened controls in job markets to favour home-grown
talent rather than overseas executives, which favours the 'return
homers' - those returning home after an international opportunity, Hydrogen Group said.
Companies and countries are recognising the value of this hybrid
solution to talent shortages, looking to retain these nationals with
international experience to help develop local economies and stem the
over-reliance on expatriates.
· Singapore remains the top destination in Asia to relocate to, followed by Hong Kong and mainland China
· The percentage of people who want to work abroad has more than doubled from 16% (2010) to 35% (2014)
· 27% surveyed were 'return homers'; 34% of Asian return homers were female, and 82% were aged between 31 and 50
· 40% working abroad said there were no barriers to moving abroad, compared to 0% in 2010
· Only 17% of people working abroad in 2014 have a professional qualification over and above a degree compared to 30% in 2010.
· 98% of Asian respondents would work abroad again
· 48% of respondents were likely to move on to a new country rather than return home - this figure compared to 38% five years ago.
Simon Walker, Hydrogen Group COO, APAC, said: "We now have a worldwide talent pool to draw candidates from. The return homers are of particular interest in Asia, where countries are legislating to ensure their local talent is developed, retained and attracted back."
The report was compiled alongside ESCP Europe, the university, with 2,444 respondents from across industries in 99 countries. Click here to access the report.
*All images from the 2014 Global Professionals on the Move report