The Horizon of 2024: Key Trends in Expatriate Financial Planning

22nd December 2023
As we bid farewell to 2023, a year marked by significant financial shifts and challenges, it’s crucial for expatriates to look ahead and prepare for what 2024 might bring. At Brigantia Private Wealth Management, we're constantly analysing global financial trends to provide our clients with informed, strategic advice.

In this post, we'll explore key trends that expatriates should watch in 2024, considering both the potential opportunities and risks.
Trend 1: Continued Impact of Global Monetary Policies

2024 is likely to continue feeling the ripple effects of the monetary policy changes seen in 2023. Central banks around the world might adjust their stances on interest rates and quantitative easing, impacting currency values and investment markets. Expats should be prepared for potential fluctuations in currency exchange rates, which can significantly affect their savings and investments in different currencies.

Trend 2: The Rise of Digital Financial Services

The digital transformation in financial services is expected to advance further in 2024. For expatriates, this means increased access to digital banking, investment platforms, and financial planning tools. However, it's crucial to stay vigilant about cybersecurity risks and to choose reliable, regulated digital financial services.
Trend 3: Sustainable and ESG Investing

Sustainable and ESG investing has been on the rise, and this trend is set to continue in 2024. Expatriates who prioritise responsible investing will find more opportunities to align their financial goals with their values. However, due diligence is essential to avoid "greenwashing" and to ensure investments have a genuine positive impact.

Trend 4: Geopolitical Shifts and Their Financial Implications

Geopolitical tensions and shifts can have profound effects on global markets. In 2024, expatriates should stay informed about international relations and political developments, as these can influence market stability, particularly in emerging markets and regions with high expat populations.

Trend 5: Retirement Planning in a Changing World

As life expectancies increase and the global population ages, retirement planning continues to be a critical aspect of financial planning. In 2024, expatriates need to consider various factors, including fluctuating pension schemes, healthcare costs, and the possibility of retiring in a different country.

Conclusion:

Looking ahead to 2024, it’s clear that the world of expatriate financial planning is as dynamic as ever. At Brigantia Private Wealth Management, we’re committed to helping our clients navigate these trends with bespoke advice and strategies. Whether you’re adjusting to new monetary policies, embracing digital finance, investing sustainably, monitoring geopolitical changes, or planning for retirement, we’re here to support your financial journey in the coming year and beyond.