Worldwide Medical Insurance News: Russia boasts richest expats in the world -
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Worldwide Medical Insurance News: Russia boasts richest expats in the world

Expatriate health insurance policyholders with an annual income of more than $250,000 are increasingly turning to Russia, Saudi Arabia and Bahrain as places to live, research has suggested.

A study by HSBC Bank International revealed that the wealth gap between the East and mainland Europe continues to widen, with expatriates in emerging economies taking over from their eurozone counterparts.

Lisa Wood, head of customer propositions at the bank, commented: "It is clear that the economic volatility that has plagued the UK and eurozone has had a significant effect on expat finances since 2009."

She mentioned that economies such as Brazil, Russia, India and China have done well over the last 12 months, which has boosted expat finances in these countries.

In contrast, eurozone nations were among the worst-performing with regard to purely financial criteria.

The study looked at three main elements to determine each country's economic score and rank them in order. These criteria were whether an expatriate earned more than $200,000 a year, had a monthly disposable income in excess of $3,000 and owned luxury items such as a yacht or swimming pool.

More than one in three (36 per cent) expatriates in Russia earn over $250,000 a year, the research showed.

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