Isle of Man ranked 'best place to live for expats' in the British IslesAn annual survey conducted by HSBC has ranked the Isle of Man as the best place to live in the British Isles, and 12th best in the world.
The HSBC Expat Survey is the longest running independent global survey of expats which looks at criteria such as economic stability, wellbeing and family benefits such as finance, education, healthcare and quality of life to provide insights on how countries compare across the globe.
The Isle of Man, Jersey and Guernsey were all new entries to this year’s league table with the Channel Islands ranking at 19 and 25 respectively. The United Kingdom was named 27 and Ireland, 14.
The survey found that 92% of Isle of Man Expats said they felt safer and more secure than where they previously lived, which is the highest sentiment measured and almost double the average (48%) of other countries. In terms of political stability, the Island ranked fourth in the world.
Work-life balance, outdoor activities and a strong sense of community are some of the reasons that expats are staying in the Isle of Man longer than planned, with expats remaining on the Island an average of 8.2 years longer than planned. The global average was 4.3 years.
74% of respondents said that their quality of life had improved since moving to the Isle of Man, and nearly half said their mental wellbeing has improved.
Daphne Caine MHK, political member with responsibility for Locate Isle of Man, said:
‘It is clear that the quality of life we enjoy in the Isle of Man makes us an attractive destination for those looking to relocate to live and work, but it is also fantastic to see how competitive we are on a global scale in terms of political and economic stability, our wellbeing and family offering’.
Regarding the family offering, the Isle of Man was ranked 10th best place to live in the world for little expats, the 7th when it comes to ease to make new friends.
The survey found that those who have relocated highly appreciate the local landscape - only New Zealand and Australia ranked higher. The Island is also more attractive to first-time expats – for 64% of those relocating, it was their first experience of living abroad.
Commenting on the findings, John Goddard, Head of HSBC Expat, said:
“As the world’s leading international bank and through this latest research, we know that when professionals move to the Isle of Man they maximise their potential and enjoy rewarding life experiences. Equally they can be a vital force in the local economy, as they bring fresh skills, diverse ideas and help to strengthen society.
“Our report clearly shows that the Isle of Man is a great place for people coming to the Island to live and work.”