Expats reap rewards abroad
According to the fourth annual NatWest International Personal banking Quality of Life Index, Singapore, Hong Kong and the US are rated as the best countries for a business to develop, while Spain, China and the United Arab Emirates were deemed the worst.
The survey also showed broad support for running businesses overseas, with nearly three-quarters (70 per cent) of expatriates questioned saying they believe they have achieved more by working abroad.
The report suggests that the proportion of people that conduct a business money transfer could potentially rise, with 78 per cent of people saying faster growth is one of the major advantages of running a business abroad.
A further 74 per cent said access to cheaper resources is a principle advantage of working in a foreign country, while 65 per cent cited the tax incentive as the major draw.
Almost one in four (22 per cent) people said they consider their business prospects for the next three years to be excellent or good.
Dave Isley, head of NatWest International Personal Banking, said: "Setting up your own business can be difficult and you would imagine doing so abroad would be a task for the brave. A new breed of entrepreneurs is emerging and it is encouraging to see that the 21st pioneers are thriving in foreign climes."
The Quality of Life Study was conducted between October and November 2010 and rated expats' lives based on assessments of indicators such as availability of consumer goods, law enforcement and financial confidence.