Recent reports say Howard, who is swapping London for Geneva, is among a number of financial luminaries to have left the UK. And there are fears many more will follow, driven by concerns about rising tax rates, a less attractive business environment, and quality of life issues.

Certainly Geneva has its attractions. Low tax is an obvious one, especially for those wealthy City types. For example, alternative investment managers (i.e. those at hedge and private equity funds) can obtain a special tax status that enables them to discount chunks of their taxable income. Indeed, Switzerland as a whole offers many tax advantages.

Then there are the lifestyle benefits – the proximity of world-class ski resorts, sailing on the country’s many lakes, the beautiful scenery, its excellent environmental record, high quality health and education systems, etc, etc.

And that is backed up by Mercer’s 2010 Quality of Living survey, which put Geneva third in its global rankings, one place behind Zurich[1].

The flipside is that Geneva also ranks as one of the most expensive cities in the world, coming in fifth in Mercer’s recently released Cost of Living survey[2].

With a reported fortune of £875 million that won’t faze Alan Howard. Still, it might give the rest of us pause for thought.

[2] Mercer Worldwide Cost of Living survey 2010 – City rankings, 29 June 2010, http://www.mercer.com/costoflivingpr#City_rankings

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As a leading centre of European culture for hundreds of years, it is a city steeped in history and beauty. In spite of the bombing endured in World War II, Vienna remains an architectural delight – so much so that in 2001 the city centre was designated a UNESCO World Heritage Site. There are also world-class museums, fine parks, a rich musical tradition, and a multitude of wonderful cafes and restaurants.

Quality of Life Survey

I wasn’t surprised, therefore, to learn that Vienna claimed the top spot in the Mercer 2010 Quality of Life Survey, released last week[1].

The survey evaluates 420 cities worldwide, assessing the living conditions across 10 categories, which include the political and social environment, the economic environment, health and sanitation, schools and education, and recreation.

Having also come first in Mercer’s 2009 survey, it seems Vienna is cementing its status as the city offering the world’s best quality of life.

Meanwhile, Europe as a whole had 16 cities amongst the top 25 in the world. It underlines just how much the continent has to offer for prospective expats.

Happy Living

So what does all this mean for expatriates? Well, it is a useful guide into the ease of life you can expect to find when moving abroad to a new city.

For instance, while in Vienna a couple of weeks ago I got talking to two guys – one from Spain, the other from Colombia – who have both moved to Geneva. Their comments about the life they lead there certainly chime with its 3^rd-place ranking in the Mercer survey.

But when looking at reports like Mercer’s there are a couple of provisos to bear in mind:

1)      By their nature, such considerations as quality of life are subjective. Mercer goes to great pains to compile valid statistical comparisons across its 10 life assessment categories. But these won’t necessarily mirror your judgements or priorities. (Furthermore, you may not even want to move to a foreign city, but instead plan to be by the beach or in the rural hinterland, where the situation may be very different to the country’s urban centres.)

2)      Quality of life ? happiness – it may be a contributor, and an important one, but happiness comes from a broader range of factors.

But that’s a topic for another time.

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Of course, the right to have an equal voice in the governance and future direction of your country should be a source of pride, something to be celebrated and embraced. Let’s not forget what life would be like without it, as many people around the world have to endure. Be grateful, and exercise that privilege.

Unfortunately, elections also have a flip side.

There is all the negativity: the schoolyard name calling and finger pointing that so often characterises the grab for votes.

There is the veneer politicians put on their campaigns, for fear some small blemish, some sign of human frailty, might wreck their electoral hopes. With that comes a tendency to rewrite history, for politicians to claim that all the decisions they have taken – or would have taken, if they don’t happen to be in government – have improved the country, while their opponents’ ones have been a disaster.

Worse, I think, are the overblown promises for the future. “Vote for me and we will have huge and sustainable economic growth, a wonderful education system, transformed healthcare, no crime, a clean environment, congestion-free roads, great public transport, bounteous pensions …”

Unfortunately, the underlying message each time an election comes around is that the country in question has gone to the dogs, but that a gilded future is on the horizon.

As I read expat forums and articles on emigration, or talk to people considering a move abroad, I see a similar mindset: “My country is on the road to ruin and so I’m getting out to someplace where the sun always shines and all my problems will be solved.”

Instead, we need a balanced, honest approach to the debate – both political and expatriate. The situation isn’t all terrible now, and won’t be perfect when we change government/country.

We should recognise, and strive to appreciate, the good we have at the moment, as well as being open-eyed to what needs changing. And we should have hope for a better future, without pinning it on some quick and easy fix.

For changing political leader, or your country, isn’t the magic answer. One cross on a piece of paper or a new stamp in the passport won’t solve everything. We must bear that responsibility ourselves – to make our lives better, wherever we choose to lead them.

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Not in my balmy corner of Spain, I hasten to add. In Norway.

I was conducting a phone interview with a banking executive in Oslo this morning, and this is the weather report she gave me.

By contrast, I was sitting with my office balcony door open, with the sunshine pouring through. It must have been about 20 degrees here today, and that’s much cooler than it has been the rest of the month. Last weekend I saw people still swimming in the sea (although I must confess it’s a bit chilly for me now).

Norway consistently rates well in various quality of life measures such as its work/life balance, income levels and environmental performance. And for years it has dominated top spot in the United Nations Development Programme’s Human Development Index (HDI) table.

Evidently the country has a lot going for it. Except its geography. Spain’s sunshine seems much more appealing.

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It is not exaggerating to say this is a day of hope, not just for millions of American citizens, but for the billions of citizens of the Earth as a whole.

The weight of expectation is enormous – too big probably, as if single-handedly and in just a few years he can solve all the deep and desperate problems facing America, and by extension much of the rest of the world. But hopefully his term(s) of office will bring real improvements nevertheless: to the global economy, to the environment, to war-ravaged Iraq and Afghanistan, to the problems of the Middle East, to relations between the Islamic world and the West.

And if Obama does achieve some of what he has set out to do then America’s besmirched reputation around the world will regain some of its lustre too. And for that the millions of expat Americans that live and work across the globe will have something to be thankful.

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