Ever wondered why there seems to be so many oyinbos in Nigeria despite the serious economic and political challenges in the country? The answer is because it is in Nigeria that foreigners earn the most out of all the countries in the world.
A total of 12 per cent of (foreigners) households earn more than $250,000 per year, making it the top location for earnings, according to InterNations, a network for people who live and work abroad.
Russia and Kazakhstan fall in joint second place for earnings – 11 per cent of expat households fall into the $250,000-plus bracket. The global share of expatriates making that amount per year or more is just three per cent.
Nigeria is also home to the world’s longest expat working week, at 48.2 hours on average. Ghana follows with 47.8 hours. The global average working week for expats is 41 hours.
The foreigners don’t seem to mind the hard work. More than half of the InterNations survey respondents in Nigeria, Ghana, Senegal and Kenya rated their working hours and work-life balance positively.
High income foreigners (percentage of households earning more than $250,000)
1. Nigeria 12pc
2. Russia 11
3. Kazakhstan 11
4. Malaysia 9
5. Switzerland 9
(Global average: 3pc)
InterNations questioned 14,000 members in 169 countries about aspects of expat life for its survey. One in six of the organisation’s 1.6 million members worldwide lives in Africa.
Hashim Zein, an InterNations ambassador in Nigeria, said: “The perceived risk on the [African] continent makes ‘risk pay’ an additional source of income.”
But he added: “Africa poses very interesting opportunities for expats; there is a dearth of specialised experience due to previous brain drains and the relatively rapid development in the continent.”
Expatriates in the West African country Senegal are happiest with their local career prospects and have high job satisfaction. A significant 78 per cent of expatriates there rated their career prospects positively, compared with 58 per cent of expats worldwide who feel the same.
Job satisfaction in Ghana is also impressive, with 69 per cent responding positively. Nigeria follows in the third spot, with 74 per cent stating that they are satisfied with their job and 64 per cent rating their career prospects positively.