Have you ever found yourself daydreaming about packing up and getting out of SA? Do you often sigh dreamily when thinking about a different life with a world of opportunity at your feet? “Getting out” is a term that many South Africans use in reference to leaving the country and in most instances it’s spurred on by high crime rates, poor quality of life, and limited earning opportunities. For people with this type of mind set, the benefits of living abroad are many.
If you’re thinking about chasing your hopes and dreams in a foreign country, you might want to spend a bit of time considering the various working abroad advantages and disadvantages. Once you’ve got proverbial itchy feet, you will undoubtedly find yourself hungry to learn all about the benefits of working and living abroad.
The benefits of living abroad
At FinGlobal, we often assist soon-to-be expats understand the changes that await them in a new country. It’s safe to say that we are always inspired by the undeniable benefits and advantages that await skilled South Africans on distant shores. A good work ethic, along with the ability to learn and adapt quickly, are attributes that many foreign countries look for in their new “recruits”. It’s safe to say that these traits are richly rewarded with a plethora of benefits, some of which are mentioned below.
- You get to re-invent yourself
Yes, this one isn’t linked to finances and opportunities to get ahead, but it’s equally important. Many people get to a stage in their lives where they just need something new; a fresh start. Moving to a new country means you get to do things differently. You get to be the person you want to be. You get to do things right. There’s something exciting about a fresh start, isn’t there? If you don’t want to be in the same place and the same version of yourself for the rest of your life, starting over in a foreign country could give your life the type of pizazz you are looking for.
- There are more lucrative work opportunities abroad
According to Stats SA, South Africa’s unemployment rate in 2020 soared to 30.1%. When you compare this to countries like the UK or the USA, where unemployment rates are 5% and 6.7% respectively, you begin to realise just how bad the job market is in SA.
Skilled individuals in South Africa do have some opportunities, but they are few and far between. It must also be mentioned that the pay often pales in comparison to that offered in international countries. You might be surprised to learn how much someone else with the very same qualifications and experience as you, earns in a foreign country. Do your research and see if the work and earning opportunities are worth the move. It’s one of the top reasons why so many people are leaving SA.
- You get to feed your wanderlust
Traveling the world from South Africa isn’t impossible, but it’s really expensive. To go anywhere, you will need a visa and then you will also need to think about costly return flights and accommodation bookings. If you immigrate to countries like the UK or France, you can quite comfortably travel the world at a low cost. In fact, these countries are considered just a “hop over” to the world’s most sought-after destinations. Imagine being able to go to Spain for the long weekend! Bliss!
- You can educate yourself
Government education in South Africa might not be the worst, but it is very far from the best. One of the most rewarding benefits of working abroad is that all the training, courses and extra education you receive will be of a world class. That doesn’t just look great on your CV (which it does, by the way), but it also ensures that you’re fully prepared for the work you do and that you can easily position yourself as an expert in your field, confidently.
- You get to protect your loved ones
If you have a partner and family in South Africa, you probably spend at least some time worrying about their safety. Crime levels are at an all-time high in South Africa and there’s little opportunity or reason to simply relax and assume that your loved ones are safe. Can you confidently say that you believe your children are safe walking home from school or that your partner won’t be mugged (or worse) if he/she has to come home late at night? If you emigrate from SA with your family, you will be able to take them to a country where crime is better controlled and criminals are brought to justice. For many people, this is a top perk of living and working overseas.
- Government accountability
This is a big one to consider. Many people cite their reason for leaving the country to be the fault of the government. Some South Africans have lost faith in the government because of the corruption at play and because it appears as if the offenders are never truly taken to task. This is one of the most popular benefits of working abroad. South Africans are getting tired. They want a government that is accountable and takes corruption far more seriously.
Discover the Benefits of Trusting FinGlobal with Your Tax and Financial Emigration
Just like there are benefits to choosing a new country carefully and making the big move, there are benefits to choosing the right financial emigration consultants. At FinGlobal, we pride ourselves on providing premier advice and guidance to thousands of South African expats across the globe. We can assist you with a variety of services; including tax emigration, financial emigration, and how to access your retirement annuity funds while living and working abroad. Whether you simply need advice or would like a full service offering, feel free to get in touch with us at FinGlobal today.