Has the ex-pat dream dissolved?

Leaving your home country for a job opportunity abroad is not a decision to be made lightly. Will the job and the company be all that you expect? What about the people and the place? If, however, you’ve been offered a position in a country perceived as one of the most prosperous in the world, it softens the decision-making process somewhat.

Over the past decade, Dubai has established itself as the crowning jewel in the Middle East’s crown, with some of the most opulent property developments and exciting job opportunities going.

However, this past week Dubai’s debt problems were made public as its shares plunged in the FTSE 100, highlighting the fragility of its once stable finances.

Most significantly, construction company Dubai World has accrued debts to the tune of £36 billion and is having to be rescued by Deloitte.

Dubai World – the company behind the manmade islands Palm Jumeirah and ‘The World’ – is state-owned, although the government is currently trying to distance itself from the company’s debts.

Apart from causing shockwaves around global financial markets, I can’t help but think about those British ex-pats out there at the moment. Is the bubble really bursting? Is a one-way trip back to the UK on the cards? The phrase ‘job security’ has always been a bit of a paradox during a recession, but it’s only really now that Dubai ex-pats are beginning to feel their collars tighten and their ‘secure’ positions slipping away.

The embers of this recession have settled far and wide, and anyone who thinks that their country is recession-proof or if this downturn hasn’t been global, is truly mistaken.

If you are considering accepting a role abroad, remember to exercise due diligence. No job is secure; the last thing you want is to arrive in a new country only to find that your job, or worse, the company is no longer there.