Kenya Among Top Expat Destinations, US Fed Meeting

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September 16, 2024

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Why Kenya Ranks Among World’s Top Expat Destinations

Kenya continues to solidify its position as a leading destination for expatriates, ranking 14th out of 53 countries in the 2024 Expat Insider survey conducted by InterNations.

  • Since the survey began in 2014, Kenya is the only African nation consistently ranked among the top 20 global expat destinations, outperforming several other African countries such as South Africa, Morocco, and Egypt. Kenya is also ranked ahead of countries such as UK, Ireland, Italy, Germany among others.

  • The survey, which garnered responses from over 12,500 expats representing 175 nationalities living in 174 countries, highlighted several factors contributing to Kenya’s appeal. Among the most significant are the country’s warmth, affordable housing, and ease of integration into local society.

Ranking 9th globally in the Ease of Settling In Index, expats praise the friendliness of Kenyans (11th) and find it easy to build meaningful connections and friendships (7th). According to the report, these factors play a crucial role in attracting a diverse expatriate population, ranging from international retirees to professionals on corporate assignments.

Kenya’s lack of a major language barrier is another key factor that simplifies the expatriate experience. Ranking 5th globally in this area, Kenya offers a smooth transition for many expats, further supported by the ease of finding affordable housing. The country ranks 13th globally for housing affordability, with 75% of expats agreeing that finding accommodation is relatively easy compared to the global average of 45%.

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“If I had challenges in my company, I would not hesitate to sell assets to remain afloat, to get to the better times, because it doesn’t make any sense for me to keep any assets and then suffocate the whole organization.”

-Aliko Dangote

Aliko Dangote Challenges Business Leaders to Lead Continent's Transformation

Aliko Dangote, one of Africa's richest entrepreneurs, has called on business leaders to "take the lead in transforming the continent."

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US Federal Reserve Meets This Week

Markets are hoping that the US Federal Reserve will cut rates during its meeting on Wednesday this week after inflation eased in August and its European counterpart cut interest rates by 0.25 percent.

  • According to the latest data released on Wednesday, annual inflation slowed down to 2.5 percent in August – below expectations.

  • On a monthly basis, core inflation  rose 0.3 percent driven by stubborn shelter costs, as well as an uptick in airfares and overall services prices.

  • The core inflation which excludes food and energy prices similarly increased to 3.2 percent – slightly higher than expected.

“The time has come,” the Fed‘s Board Chair, Jerome Powell, said in August, acknowledging that inflation was now on a “sustainable” path back to normal levels signaling it was preparing to cut rates at its meeting next week.

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