A look at why it may be time to relocate staff to the Middle East

Global companies are turning their attention to the Middle East with JP Morgan re-affirming their commitment to investment in the region.

The company recently announced the appointment of Sjoerd Leenart as their senior country officer for the Middle East.

It is a great responsibility for Leenart as the role involves managing the lender’s overall regional presence.

This covers everything from asset management to investment banking and effectively means Leenart will be central to all future investment plans.

All of this adds to the growing momentum behind the region, and means that many global companies will now be strongly considering relocating staff to the area in large numbers.

Leenart has an impressive pedigree, having worked at JP Morgan for 17 years.

He was also the co-head of debt capital markets and sales/marketing for Central and Eastern Europe, the Middle East and Africa. This means he will have contacts and resources that can be utilised for his new role.

This latest move is just one of a growing number of reasons why people are considering moving parts of their business to the region.

A couple of key factors are set to change the way the region sees itself, as well as the way global investors view it. This means that staff relocation to the area could be set to increase massively.

A recent survey by the global HR consulting firm Mercer found a significant fall in the cost of living throughout the Middle East.

The most prominent factor in the fall in living costs was the fact that the majority of the region’s currencies are linked to the US Dollar.

The survey assessed the cost of several factors including housing, food, transportation, clothing and household goods. The results certainly compared favourably with other regions around the globe.

When Qatar won the bid to host the 2022 World Cup it raised several eyebrows around the world.

However, the country looks set to make the most of their good fortune by investing heavily in infrastructure and employment to show the world that they can pull it off.

Relocating to such an area can be a stressful and demanding process. International relocation companies can help you with any issues regarding the shipment of goods and advice on visa applications.