The health crisis has turned the international mobility system and the globalization model upside down. In his study “The Expatriation Observatory”, the Banque Transatlantique reveals the psychological and financial difficulties that expatriates have had to overcome during this atypical period.
2.5 million is the number of French people living abroad. This figure reflects the attractiveness of the international market for young professionals, even in times of health crisis: 90% of French expatriates say they are satisfied with their expatriation and 84% would recommend the experience to those around them.
Banque Transatlantique, a subsidiary of Crédit Mutuel Alliance Fédérale and specialized in supporting French expatriates, conducted a study aimed at analyzing the consequences of the health crisis on the situation of French expatriates, as well as the attachment that these people keep to their country of origin. To do this, the establishment asked 300,000 people to respond to their form. Result ? 9,739 people participated and 7,841 people validated their answers.
Difficulties encountered by French expatriates
Expatriates experienced a relatively difficult period of health crisis both psychologically and financially, except for those in Oceania, where the crisis was considered “easier”.
23% saw their income drop and 7% lost their job. However, the crisis has had a positive effect on their family life and on their professional or personal projects put aside in normal times, thanks in particular to a less restrictive pace of life.
Concerning business crisis management, 81% of French people believe that it has been managed well: organizations have demonstrated agility and have implemented solutions to encourage teleworking. Overall, 65% believe their host country has adopted a successful strategy to stop the spread of the virus. However, expatriates denounce poor management of the crisis in Central and South America.
40% of French expatriates would like to benefit from the same advantages and financial assistance as residents in France. However, 42% of expatriates recognize the efforts of the French authorities for the regular dissemination of official information.
Expatriation increasingly attractive
French residents or expatriates consider expatriation to be an accelerator of professional life and the opportunity to evolve in a new setting and a new culture, even during the coronavirus period. “90% of French people abroad say they are satisfied with their expatriation and 84% would recommend the experience to those around them. A plebiscite even more marked among those under 35 who would recommend expatriation to one of their relatives at 92%.” underlines the study.
However, the context we are currently experiencing complicates international mobility: Three quarters of expatriates say that the crisis calls into question people’s travel in the coming years. Despite very high uncertainty and a vague globalization context, 60% of expatriates prefer to stay in their host country.
France: dream destination for foreign expatriates?
Gastronomy and culture are the main elements that contribute to France’s influence abroad. Then comes the social protection system and education. Economically speaking, France stands out on an international scale in the wine sectors at 74%, luxury (72%) and tourism (70%). “French brands are also showcases of France internationally. One respondent in 3 (29%) cites the luxury sector (LVMH – Louis Vuitton, Christian Dior – followed by Chanel) and 10% the automobile manufacturers (Renault or Peugeot).” clarified the report from the Transatlantic Bank.
