An essay "Marketing Financial Services: Global Banks’ Interest on Expats Population" outlines that it is been identified that expats tend to use a variety of channels for saving and investing the large proportion of their wealth in the current financial environment. …
It is been identified that expats tend to use a variety of channels for saving and investing the large proportion of their wealth in the current financial environment. Due to the higher earnings, expats are investing a considerable proportion of their capital in real estates and equities. This is because the expats probably view long-term investment opportunities as a safer option particularly during the time of economic uncertainties (HSBC Bank International Limited, 2010). Similar findings were accumulated by the 2012 Expat Explorer Survey, which reveals that expats have reacted to the global economic downturn by changing their saving and outlay patterns. Moreover, the survey findings also identified that expats currently are interested in long-term investments (HSBC Bank International Limited, 2012). Moreover, it is recognized that expats often need to confront with various problems related to wealth management, banking, and currency management. Hence, expats have become one of the potential customers for global banks for attracting them towards their numerous services, in turn, enjoying the benefits of having large customer base while simultaneously helping expats to effectively deal with these problems. Global banks view expats as their target customers for increasing customer base and revenue. The global banks with their services, such as services related with tax obligation intend to provide valuable guidance to expats to make their life easier in a new country and seek greater profitability out of the services rendered by the banks to expats’ population. As stated earlier, expats have generally high salaries as well as they are confronted with many financial challenges, in such cases, global banks intend to lure the savings of expats towards the banks with their numerous products and services to enhance their overall profitability. ...
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