12 Stats About expat investments to Make You Look Smart Around the Water Cooler

Unless you're retired or independently wealthy, moving abroad also means finding some way of financing your life overseas. There are various ways to do that, whether as a relocation with your expat investing existing employer, finding a new job on spec when you hit the ground, or perhaps working as a freelancer in some shape or form.

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But what of your accompanying partner (assuming you have one)? What sort of position will they find themselves in?

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At the turn of the millennium my wife and I moved from London to New York as part of an inter-company transfer. I'd been promoted to managing editor by the publisher I worked for, so it was a step up the career ladder. Plus the company could sort out all the finicky visa issues, help us with accommodation and so on. So it seemed like a great opportunity.

Moving to the States though meant my wife was unable to work. She'd had a great job as an account director in the UK. But as she'd been planning to leave her company anyway the move wasn't a big quandary for her from a career perspective.

However, as she was only eligible for a tourist visa it did leave her with limited alternatives when we arrived. To start with it was great, as she was free to scout around for an apartment for us. And after the stresses of her former job it gave her some breathing space to do some courses, exercise and pursue some personal interests.

Eventually though she got a job at the only place she was entitled to work: the British Consulate. But the position was boring and there were limited possibilities. So she left and took up voluntary work instead.

This so-called 'trailing spouse' situation is a long-running theme in expat circles. Over the centuries it has been predominantly wives who were affected, as they followed their diplomat or military or businessman husbands around the world from one international posting to another.

But as social structures have changed there are increasing numbers of same-sex partners, or men following their wives or girlfriends on expat assignments too. And in this era of globalization the trailing partner is becoming evermore common.

If this is a situation that you are facing - whether you are the 'lead' or the 'trailing' partner - then there are a number of considerations to think through before deciding whether relocating will be your best move.

For one, will the person doing the 'trailing' have to give up their job in the move?

If so, what impact will that have on:

a) your total household income, and

b) their prospective career progression

But aside from such financial considerations, there are other - sometimes less tangible and immediate - impacts to be aware of.

In its 2008 Global Assignment Policies and Practices (GAPP) survey, KPMG noted that 34% of the firms it questioned said dual career couples increased the chance of their employee's assignment being a failure. And there are many reasons why an overseas posting could raise problems for the accompanying partner, including:

o Loss of identity from giving up a job/career

o Loss of independence from giving up their salary

o Taking an alternative job in the new location that underutilizes their capabilities, or that they simply don't value/enjoy as much

o Inability to obtain a work permit or find employment in the new location, causing frustration and boredom (an endless round of lunches and shopping, or idle days being housebound?)

o Social isolation as a result of the change in work status

o Social isolation from being cut off from the home country support network of family and friends

o Loneliness if their employed partner works long hours and/or has to go on frequent business trips

o Isolation caused by cultural and/or linguistic barriers

o Changing role at home, for instance if they engage domestic help such as a cook, cleaner or nanny, or if they have to undertake more corporate entertaining

So given the importance for employers of keeping their staff motivated and contented - which in turn is often affected by the happiness of their significant other - some firms are providing various levels of support to accompanying partners.

Indeed, KPMG's GAPP Survey reported that among the firms that participated nearly 7 out of 10 offer some form of assistance to the accompanying spouses/partners of assignees. Unfortunately it is almost never compensation for the loss of the affected person's salary. Instead it may come in the shape of:

o Assistance with obtaining residency visas and work permits

o Career counselling

o Financial assistance for retraining

o Help with language learning and cultural awareness

o Advice on available support organisations, such as networking groups and sports clubs

If you are a trailing partner then, some key questions to chew over before you commit to the move are:

1) Will you be able to obtain a work permit for the host country?

2) Are your skills/qualifications recognised and accepted in the country to which you are moving?

3) If you plan to seek work in your new location, what job opportunities are there in your sector?

4) How vibrant is the country's economy? What are its economic growth prospects?

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5) Will you have to contend with any language differences? Will that be a problem?

6) Will there be any assistance with the transfer and integration process from your partner's employer?

7) How will your domestic set up change as a result of moving abroad? (For example, larger/smaller accommodation, provision of domestic staff, residence in an expat enclave/closed community?) Is that a positive improvement?

8) As an accompanying partner, how do you envisage spending your time while your partner is at work? Is that a situation you relish?

Introduction to Krabi

The spectacular province of Krabi is located in Southern Thailand, alongside the pristine waters of the Andaman Ocean and in an area of outstanding natural beauty. Benefiting from a glorious tropical climate, it is a genuine paradise for those lucky enough to live there.

Krabi Population

Krabi's inhabitants are as diverse as the dramatic landscape and include Buddhists, Thai-Chinese and Moken, also known as Sea Gypsies. Muslims also form a large proportion of the population, particularly in rural areas where they are in the majority. It is striking how these colourful communities are able to practice their individual beliefs and yet, still live side by side in apparent harmony - a refreshing example of tolerance and mutual respect, that the rest of the world could learn from!

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Traditionally the people of Krabi were either farmers of the rubber, palm, oil and oranges in the region, or fishermen who made a living from the abundant seafood of the Andaman. Today, many are leaving the farms and fishing villages to take advantage of the huge growth in tourism in Krabi and conventional life is gradually changing.

Krabi locals are famous for being down-to-earth, open, friendly and helpful. They are renowned for their incredible hospitality and they extend a warm welcome to both tourists and foreigners who settle permanently.

Krabi Expat Community

There is also a thriving expat community of more than 2000 foreign nationals drawn to the relaxed lifestyle, breathtakingly beautiful environment, low crime rate and comparatively low cost of living. This mixed bunch includes foreigners from Britain, France, Germany, Italy, Spain, Scandinavia, US, Australia and New Zealand.

Expats tend to group together by nationality or occupation and their community is notably laid back, rather like Krabi itself! Formal clubs, groups or societies are few and far between, although there are some useful expat forums that provide up to date information on expat life in Krabi.

Because there is not a huge amount of work for foreigners, many expats set up their own business in Krabi and a large number choose to retire or live on private means. Popular business ventures include restaurants, hotel and villa accommodation, language schools and property agencies. Most jobs are provided by some of the many international hotels, restaurants and bars and some find employment as teachers or diving instructors.

There are a number of people who take a risk and work illegally. This is not recommended, as the punishment for being caught working or running a business without a valid work permit in Thailand, is usually a massive fine or sometimes deportation.

Expat Facilities in Krabi

Facilities in Krabi are excellent, which is another reason why so many foreigners choose this particular part of Thailand. Krabi even boasts an airport with an international terminal, enabling regular flights home and frequent visits from friends and family.

Although there are no international hospitals in Krabi, there is a local hospital which is perfectly adequate for minor treatments and the majority of prescription drugs are available from the many pharmacies. There is also a private hospital with an excellent reputation, along with several private clinics in Krabi Town. For more extensive treatment, the nearest international hospital in Phuket, is just a couple of hours away by car. There are several dental practices in Krabi, however, most expats tend to travel to Phuket or Bangkok for major dental work.

The majority of expats choose to send their children to the local Thai school in Krabi Town, as it offers bi-lingual curriculums. There is also an international school which caters for kindergarten and primary school pupils and teaches a British curriculum.

There are a good selection of banks in Krabi, however, setting up a bank account can sometimes prove difficult for foreigners. Expats must be in possession of a non-immigrant visa, such as a work permit or retirement visa. This will must often be supported by other papers, such as a copy of their property rental agreement, or a copy of the lease if they have chosen to buy a property in Krabi. Alternatively, expats can withdraw money from their home account at one of the many ATMs or use the international money transfer facilities available in most of the banks.

Expats inevitably miss home comforts from time to time, such as a favourite beer or meal. In Krabi they are able to satisfy their craving for something familiar in one of the many authentic foreign bars and restaurants, run by expats themselves. And if they are looking for retail therapy or entertainment, then there are some excellent shopping and leisure facilities, including a multiplex cinema and Tesco Lotus Mall, just outside of Krabi Town itself.

Learning the Thai Language

Unsurprisingly, one of the greatest hurdles an expat faces when moving to Krabi, is the language barrier. Although English is widely spoken in the tourists areas, most expats try to master basic vocabulary so they can at least order food and drinks. There are many Thai language courses in Krabi, which are recommended for those that plan to stay long-term. Being able to speak some basic Thai helps an expat integrate and enables them to do business with, and make friends with the locals. It is also a fantastic way to learn about and become immersed in the extraordinarily rich Thai culture.

Moving abroad can be a challenge but the rewards usually far outweigh any minor inconveniences. If you dream of swapping a busy, stressful life in a dreary climate, for a relaxed, outdoor lifestyle in beautiful and vibrant corner of the world, then both the Krabi expat community and the locals are waiting to welcome you with open arms!