Cartus analyzes four-year trends in top global relocation destinations
Cartus, a provider of global relocation services, has published its 2016 Global Mobility Policy and Practices Survey that identifies four-year trends in where companies are sending their employees.
As more companies establish presence in areas where labor and market conditions favor business growth, Cartus identifies trends by culling data from its worldwide client base, which includes more than 50 percent of Fortune 50 companies and approximately 163,000 corporate and affinity relocations in nearly 50 countries in 2016.
In terms of volume trends overall, corporate respondents said that relocation is alive and well, with 47 percent expecting international assignments to increase and 45 percent expecting it to stay the same over the next two years.
The study identified the United States, the United Kingdom, and Switzerland rank as the top three destinations out of ten, with Switzerland moving to the third position while China fell to eighth place. Ireland and Canada moved into the top ten, while France and Hong Kong dropped off.
The United States tops the list thanks to an American business culture that prizes punctuality and efficiency, as well as a powerhouse economy and workforce of people from varied ethnic and cultural backgrounds. The lack of a value-added tax, low sales tax rates and the benefits of a still-favorable exchange rate coupled with a highly-skilled, hard-working, and educated workforce all round out strong reasons to do business there.
The United Kingdom has a healthy economy, liberal policies that protect the country’s growth, and a culturally diverse population. While the recent decision to leave the E.U. is likely to cause some continued uncertainty with other countries possibly securing investment opportunities that might have gone to the U.K., the fact that it is one of the world’s leading financial and service centers keeps the U.K. solidly in the top three.
Switzerland’s dominant machine, chemical, precision instrument, banking and insurance industries, coupled with its stable economy and political system, make Switzerland an attractive destination for companies wanting to do business. It has taken the third spot in the list mostly because it has achieved one of the highest per capita incomes in the world, along with low unemployment rates and prominent labor specialization.