According to this year’s Global Mobility Survey, a major review of trends and practices within multinational mobility programmes, emerging markets are becoming the most common relocation destination for an increasing number of international firms. In particular, China was the most common destination, making up 21% of relocations. Apartment provision in China is strong: we represent serviced apartments in Shanghai, Beijing (pictured) and Guangzhou, among other cities.
Many of the top relocation areas are also the most challenging destinations: China was the most challenging at 17%, followed by India at 12% then by Russia and Brazil, both with 7%. 59% of respondents said cultural differences were what made a destination challenging. Personal security concerns came a close second, followed by legislation differences and language difficulties. These difficulties, however, may be less of a threat now that firms are increasing the control of mobility programmes from a mixture of regional hubs, central offices and individual local offices.
Despite the economic downturn, relocation remains a highly important strategy for business growth. 34% of respondents predicted a slight increase in international assignments, 42% predicted no change and just over 10% said they expected a decrease. This growth has been attributed to many factors: 52% of the companies surveyed indicated that the main reason is that operations within existing markets are expanding. Other motives are expansions into new markets, filling local skills shortages and supporting individual talent management.
Methods used by respondents to reduce mobility costs include improving the efficiency of processes, tightening vendor and supplier management and changing benefits packages.
If your company is relocating employees, we represent over 70,000 serviced apartments globally and we can take away the hassle of searching for temporary housing.