Opportunities for expatriates in China could begin shrinking
Tuesday, March 5, 2013
China is currently home to a thriving expatriate community. These foreign workers have helped to grow the Asian country's economy - which is set to be the world's largest by 2030. However, the changing times may soon make the need for expatriates obsolete.
According to The Huffington Post U.K., the expatriate population in China has grown every year since 2000 and currently totals more than 173,000 people. Many of these workers have carved out lives for themselves, adapting to the culture and environment while living in corporate housing.
However, the executive positions available in China may soon be going to local workers. The National reports that multinational companies are increasingly trying to fill roles with local hires, especially since the economy no longer needs as much foreign expertise as it did several years ago.
This could be good news for some sectors of the business world, as it will enable companies to send experienced executives to other parts of the world, capitalizing on growing economies. It also allows companies to cut down on travel expenses to China, which is quickly becoming a more expensive place to live and do business, The Huffington Post U.K. reports.