As the world continues to shrink, we’ve seen some dramatic changes in global mobility in the last 25 years. Being an expatriate a quarter of a century ago was, for many, a dream job. Expatriates were traveling to countries that most of us wouldn’t ever get to visit, and they were generously rewarded for their efforts, both in financial and career development terms. Fast forward to today; the modern international assignee relocates in quite a different landscape, potentially facing a new set of social, economic, and political challenges.
When considering these potential challenges, it is unsurprising that between 10% and 30% of 
outgoing international assignments fail, with moves to India and China having the potential to produce failure rates that are double that of other countries. However, incoming transferees to the USA are staying longer, buying homes for their initial contract period instead of renting, and we are seeing increasing numbers investing in second homes for future vacations, or as investment properties. Many opt to apply for permanent residency and the coveted green-card status.
A lack of cultural adaptation is often given as the reason for many failed moves for American's moving overseas, and while most organizations understand the importance of cross-cultural and language training as a way to increase assignment success, Cartus’ 2012 Trends in Global Relocation Survey found that 71% cited cross-cultural training as necessary to promote assignment success.
It may well be that working overseas doesn't appeal to the majority of Americans, however, another section of the population is becoming internationally savvy and moving out, in droves! Baby Boomers; Now retiring in their thousands daily, are looking to warmer climes outside the USA.
The number of retired workers, spouses and survivors getting Social Security benefits in a foreign land is rising almost twice as fast as the number of Social Security beneficiaries generally, according to Social Security Administration data.
Relocating overseas is often a grand adventure. You get to reinvent yourself in a new place and completely start over. Moving to a foreign country in retirement could also dramatically lower your cost of living, housing and medical care, meaning you could afford more luxuries than would ever be possible in the U.S.A.
Our resort and second homes division is receiving many calls from people asking for information on overseas properties. From Dubai in the United Arab Emirates, where the global recession has hit hard, and now offers ex-pats what used to be extremely expensive luxury properties at truly remarkable prices. Costa Rica and Panama are also seeing a great deal of interest and it's an interesting fact that all of these countries are marketing to Baby Boomers with promises of affordable (an excellent) health care, and inexpensive but luxurious retirement communities. Interested in discovering more about overseas retirement? Call GPS 845 848 2218.
As an ex-pat myself, I have lived and worked in the U.S.A. for 22 years and love it. But growing old here? No way! I'm heading back to Europe and going to retire on the sunny isle of Mallorca where there's a wonderful climate, lots of Brits, and a reciprocal healthcare agreement between the UK and Spain. But that's years away, so for now I'm only dreaming!
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