An expatriate (in abbreviated form, expat) is a person temporarily or permanently residing in a country and culture other than that of the person's upbringing or legal residence. The word comes from the Latin term ''expatriātus'' from ''ex'' ("out of") and ''patriā'' the ablative case of ''patria'' ("country, fatherland"), from Greek ''Exo'' (outside) and ''Patrida ''(Fatherland, Country).

Background

In its broadest sense, an expatriate is any person living in a different country from where he or she is a citizen. In common usage, the term is often used in the context of professionals sent abroad by their companies, as opposed to locally hired staff (who can also be foreigners). The differentiation found in common usage usually comes down to socio-economic factors, so skilled professionals working in another country are described as expatriates, whereas a manual labourer who has moved to another country to earn more money might be labelled an 'immigrant'. There is no set definition and usage does vary depending on context and individual preferences and prejudices.

In the 19th century, Americans, numbering perhaps in the thousands, were drawn to Europe—especially to Munich and Paris—to study the art of painting. Henry James, for instance, was a famous expatriate American writer from the 1870s, who adopted England as his home.

The term 'expatriate' in some countries also has a legal context used for tax purposes. An expatriate living in a country can receive a favourable tax treatment. In this context a person can only be an expatriate if they move to a country other than their own to work with the intent of returning to their home country within a period of no more than 5 fiscal years. This number of years can vary per tax jurisdiction, but 5 years is the most commonly used maximum period.

Trends in expatriation

During the later half of the 20th century, expatriation was dominated by professionals sent by their employers to foreign subsidiaries or headquarters. Starting at the end of the 20th century globalization created a global market for skilled professionals and leveled the income of skilled professionals relative to cost of living while the income differences of the unskilled remained large. The cost of intercontinental travel had become sufficiently low such that employers not finding the skill in a local market could effectively turn to recruitment on a global scale.

This has created a different type of expatriate where commuter and short-term assignments are becoming more common and often used by organizations to supplement traditional expatriation. Private motivation is becoming more relevant than company assignment. Families might often stay behind when work opportunities amount to months instead of years. The cultural impact of this trend is more significant. Traditional corporate expatriates did not integrate and commonly only associated with the elite of the country they were living in. Modern expatriates form a global middle class with shared work experiences in a multi-national corporation and working and living the global financial and economical centers. Integration is incomplete but strong cultural influences are transmitted. Middle class expatriates contain many re-migrants from emigration movements one or two generations earlier.

In Dubai the population is predominantly expatriates, from countries such as India, Pakistan, Bangladesh and the Philippines, with only 20% of the population made up of citizens.

The continuing shift in expatriates has often been difficult to measure. According to UN statistics, more than 200 million people will be living outside of their home country in 2010. However, this number also includes economic migrants.

In terms of outbound expatriation, the UK has currently the highest number of expatriates among OECD countries with more than three million British living abroad, followed by Germany and Italy. On an annual basis, emigration from the UK has stood at about 400,000 per year for the past 10 years. In terms of expatriates influx, the most popular expatriate destinations are currently Spain, followed by Germany and the UK.

The Expat Directory is currently collating information on expatriate movements to provide a statistical overview of expatriate origin and destination countries. Current statistics show that the majority of expatriates originate from the United States. The questionnaire aims to provide further information or key destinations and the length of time that expatriates spend overseas. The survey will remain open ended with monthly snapshots collated from March 2010.

According to linkexpats, Dubai claims the highest number of expatriates, followed by Abu Dhabi, and Muscat, Oman.

The Global Economic downturn of 2008/9 has seen many United Kingdom Expatriates returning to the UK. This trend has been predominantly attributed to 'pensioner expatriates' with the poor exchange rate making life less affordable. The process of relocating back to one's home country is known as repatriation and brings with it a specific set of challenges.

Business handling of expatriate employees

In dealing with expatriates, an international company should recognise their value and have experienced staff to deal with them and follow written policies on expatriates' benefits. The salary of internationally assigned personnel customarily consists of standard salary and monetary benefits such as cost of living and/or hardship allowances supported by non-monetary incentives i.e. housing and education. Some companies will completely cover the cost of the education, even at relatively expensive international schools, while other, usually smaller companies, encourage families to find local schooling options.

International corporations often have a company-wide policy and coaching system that includes spouses at an earlier stage in the decision-making process, giving spouses an official voice. Not many companies provide any compensation for loss of income of expatriate spouses, although they often do provide other benefits and assistance. The level of support differs, ranging from offering a job-hunting course for spouses at the new location to full service partner support structures, run by volunteering spouses supported by the organization. An example of an expatriate-led project can be found in the Gracia Arts Project of Barcelona.

There are several advantages and disadvantages of using expatriate employees to staff international company subsidiaries. Advantages include, permitting closer control and coordination of international subsidiaries and providing a broader global perspective. Disadvantages include high transfer costs, the possibility of encountering local government restrictions, and possibly creating a problem of adaptability to foreign environments.

Switzerland

In Switzerland, the term "expat" is not used for all foreigners living and working there, but only to those on "expat" contracts. Typical Swiss expats will be living in housing provided by the employer, with most other expenses such as children's (English) education also paid by the employer. In theory, this is because they are still maintaining a home in their original country. This is in strong contrast with those on "local" contracts who are treated and paid like other locals. The "expats" have a reputation of being flush with money, and raising the prices for others who are not subsidised in this way. Expat contracts are usually time limited, so the expats either move on to another assignment, or are given a local contract without expat subsidies.

See also

Worldwide ERC (Employee Relocation Council) for employment trends in international assignment management.

Alien (law)

''Gastarbeiter'' ("guest worker")

Ethnic enclave

Existential migration

English-language radio

Canadians of convenience

Third culture kid

Permanent residency (compare and contrast with domicile)

Domicile (compare and contrast with permanent residency)

Cosmopolitanism

Diaspora

Teaching English overseas

Migrant Worker

Qualifying registered overseas pension schemes

References

Expatacular - Global Expat Community Bridging Cultures!

Further reading

Category:Nationality Category:Residency Category:Human migration Category:Diaspora studies Category:Employment of foreign-born

ca:Expatriat de:Expatriate es:Expatriado fr:Expatrié id:Ekspatriat la:Exsul ml:പ്രവാസി nl:Expatriate ro:Expatriat ru:Экспатриация fi:Ekspatriaatti sv:Landsförvisning uk:Експатріант zh:海外国民

Coordinates	56°09′″N40°25′″N
name	James Beeland Rogers, Jr.
birth date	October 19, 1942
birth place	Baltimore, Maryland, USA
occupation	investor, financial commentator, and author
alma mater	Balliol College, OxfordYale University
website	www.jimrogers.com
footnotes	}}

James Beeland Rogers, Jr. (born October 19, 1942) is an American investor, financial commentator, and author based in Singapore. He is chairman of Rogers Holdings and Beeland Interests, Inc. He was the co-founder of the Quantum Fund with George Soros and creator of the Rogers International Commodities Index (RICI).

Rogers is an outspoken proponent of the free market, but he does not consider himself a member of any school of thought. Rogers acknowledged, however, that his views best fit the label of Austrian School of economics.

Biography

Rogers was born in Baltimore, Maryland and raised in Demopolis, Alabama. He started in business at the age of five by selling peanuts and by picking up empty bottles that fans left behind at baseball games. He got his first job on Wall Street, at Dominick & Dominick, after graduating with a bachelor's degree from Yale University in 1964. Rogers then acquired a second BA degree in Philosophy, Politics and Economics from Balliol College, Oxford University in 1966.

In 1970, Rogers joined Arnhold and S. Bleichroder. In 1973, Rogers co-founded the Quantum Fund with George Soros. During the following 10 years, the portfolio gained 4200% while the S&P; advanced about 47%. The Quantum Fund was one of the first truly international funds.

In 1980, Rogers decided to "retire", and spent some of his time traveling on a motorcycle around the world. Since then, he has been a guest professor of finance at the Columbia University Graduate School of Business.

In 1989 and 1990, Rogers was the moderator of WCBS' ''The Dreyfus Roundtable'' and FNN's ''The Profit Motive with Jim Rogers''. From 1990 to 1992, he traveled through China again, as well as around the world, on motorcycle, over 100,000 miles (160,000 km) across six continents, which was picked up in the ''Guinness Book of World Records''. He tells of his adventures and worldwide investments in ''Investment Biker'', a bestselling investment book.

In 1998, Rogers founded the Rogers International Commodity Index. In 2007, the index and its three sub-indices were linked to exchange-traded notes under the banner ELEMENTS. The notes track the total return of the indices as an accessible way to invest in the index. Rogers is an outspoken advocate of agriculture investments and, in addition to the Rogers Commodity Index, is involved with two direct, farmland investment funds - Agrifirma, based in Brazil, and Agcapita Farmland Investment Partnership, based in Canada.

Between January 1, 1999 and January 5, 2002, Rogers did another Guinness World Record journey through 116 countries, covering 245,000 kilometers with his wife, Paige Parker, in a custom-made Mercedes. The trip began in Iceland, which was about to celebrate the 1000th anniversary of Leif Eriksson's first trip to America. On January 5, 2002, they were back in New York City and their home on Riverside Drive. His route around the world can be viewed on his website, jimrogers.com. He wrote ''Adventure Capitalist'' following this around-the-world adventure. It is currently his bestselling book.

On his return in 2002, Rogers became a regular guest on Fox News' ''Cavuto on Business'' which airs every Saturday. In 2005, Rogers wrote ''Hot Commodities: How Anyone Can Invest Profitably in the World's Best Market''. In this book, Rogers quotes a ''Financial Analysts Journal'' academic paper co-authored by Yale School of Management professor, Geert Rouwenhorst, entitled ''Facts and Fantasies about Commodity Futures''. Rogers contends this paper shows that commodities investment is one of the best investments over time, which is a concept somewhat at odds with conventional investment thinking.

In December 2007, Rogers sold his mansion in New York City for about 16 million USD and moved to Singapore. Rogers claimed that he moved because now is a ground-breaking time for investment potential in Asian markets. Rogers's first daughter is now being tutored in Mandarin to prepare her for the future. He is quoted as saying: "If you were smart in 1807 you moved to London, if you were smart in 1907 you moved to New York City, and if you are smart in 2007 you move to Asia." In a CNBC interview with Maria Bartiromo broadcast on May 5, 2008, Rogers said that people in China are extremely motivated and driven, and he wants to be in that type of environment, so his daughters are motivated and driven. He also stated that this is how America and Europe used to be. He chose not to move to Chinese cities like Hong Kong or Shanghai due to the high levels of pollution causing potential health problems for his family; hence, he chose Singapore. He has also advocated investing in certain smaller Asian frontier markets such as Sri Lanka and Cambodia, and currently serves as an Advisor to Leopard Capital’s Leopard Sri Lanka Fund. However, he is not fully bullish on all Asian nations, as he remains skeptical of India's future - "India as we know it will not survive another 30 or 40 years". In 2008 Rogers endorsed Ron Paul for President of the United States.

Rogers has two daughters with Paige Parker. Hilton Augusta(nicknamed Happy) was born in 2003, and their second daughter Beeland Anderson in 2008. His latest book, ''A Gift To My Children'', contains lessons in life for his daughters as well as investment advice and was published in 2009.

On November 4, 2010, at Oxford University’s Balliol College, he urged students to scrap career plans for Wall Street or the City, London’s financial district, and to study agriculture and mining instead. “The power is shifting again from the financial centers to the producers of real goods. The place to be is in commodities, raw materials, natural resources."

In February 2011 Rogers announced that he has started a new index fund which focuses on "the top companies in agriculture, mining, metals and energy sectors as well as those in the alternative energy space including solar, wind and hydro." The index is called The Rogers Global Resources Equity Index and the best and most liquid companies, according to Rogers, go into the index.

Books

1995: ''Investment Biker: Around the World with Jim Rogers''. - ISBN 1-55850-529-6

2003: ''Adventure Capitalist: The Ultimate Road Trip''. - ISBN 0375509127

2004: ''Hot Commodities: How Anyone Can Invest Profitably in the World's Best Market''. - ISBN 140006337X

2007: ''A Bull in China: Investing Profitably in the World's Greatest Market''. - ISBN 1400066166

2009: ''A Gift to My Children: A Father's Lessons For Life And Investing''. - ISBN 1400067545

Further reading

External links

The Millennium Adventure, Official Jim Rogers website

The Rogers International Commodity Index A site for information on the RICI

The Jim Rogers Blog

;Articles

"An Early Christmas for Jim Rogers". - ''BusinessWeek'' - December 8, 2004.

"Invest In Commodities – and Keep Your Shirt". - November 23, 2006.

"We Want Our Kids To Learn Chinese". - MySinchew. - July 19, 2008. - (article about Rogers' life in Singapore)

"Adventure Capitalist". - ''PODER Magazine''. - April 2010.

;Interviews

Curated Interview With Jim Rogers From Market Wizards

Jim Rogers on the British Pound, US Dollar, And China

Jim Rogers, The Adventure Capitalist

Jim Rogers and George Soros Started the Quantum Fund

rediff.com: The Money Interview/Jim Rogers, investor, globetrotter

Financial Sense Newshour's Ask The Expert: Jim Rogers:

*2003.

*May 6, 2004.

Riverside Conversations: a 3 Part TV Series with Marc Faber

SCMP video interview, September 8, 2008.

Investors Chronicle interview. - (on the decline of the US/Europe, emerging markets, commodities). - November 2008.

Bloomberg Night Talk interview. - November 24, 2008.

Jim Rogers on The Lew Rockwell Show:

*"The Crash of '08". - December 12, 2008. - (*.MP3 audio)

*"Economic Advice to My Children (and You)". - May 17, 2009. - (*.MP3 audio)

Bloomberg TV Jim Rogers Special. - December 24, 2008.

''TIME'' Q&A;: Jim Rogers:

*April 28, 2009.

*October 31, 2008.

Interview from March 2009 on Channel 4

Jim Rogers Sat 3 Interview German TV Sat 3

References

Category:Austrian School economists Category:1942 births Category:American investors Category:American money managers Category:Living people Category:Hedge fund managers Category:Financial analysts Category:Stock traders Category:Stock and commodity market managers Category:Columbia Business School faculty Category:Yale University alumni Category:Alumni of Balliol College, Oxford Category:People from Demopolis, Alabama

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