An inter-cultural study, conducted nationwide by Credence Research and Analytics (CRA), to gauge the impact of recession on the relocation industry has found that full reimbursements of relocation expenses for employees, compared to 2008, are down to 63%. Children?s schooling and spouse activities are no longer subsidised. Also, social perks like club memberships and airfare concessions have also reduced. The survey was commissioned by Credence Relocity, a Delhi-based expatriate relocation advisory and solutions Company and conducted across India over 500 respondents.
?An average relocation budget used to start at $25,000 per employee. Post recession it has dropped to as low as $10,000 per employee,? says Aman Bandvi, CEO, Credence Research and Analytics. The relocation budget amongst other things includes travel, cultural training and country orientation, immigration assistance, logistics support.
Rents in Indian localities considered to be preferred by expatriates, according to the study, have also fallen by approximately 20%. The survey also points at the mood of the expats. ?The expatriates who have arrived from developed nations to work in Indian companies are seemingly glum. After all they are not attuned to any cuts in their standard of living. However, expatriates from developing nations are finding the going normal.?