More than two-thirds, or 68 percent, of expats in Hong Kong agree that it is a good place for career progression, which is higher than all other countries surveyed, such as Singapore, 62 percent; the United Kingdom, 62 percent; and the United States, 61 percent.
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Over 50 per cent of expats say living in Hong Kong has helped them save faster towards retirement compared with 40 per cent of expats globally.
The average annual income for expats in Singapore is S$190,000, higher than the global average of S$133,000, while almost a quarter earn more than S$273,000 – more than twice the global expat average of 11 per cent.
“Switzerland shines for the second year in a row, offering unrivalled financial wellbeing and a strong economy for expats”, said the survey report.
It found that 62 per cent of expats living in Singapore said they are earning more here, while 66 per cent felt their quality of life is better compared with their home countries. Eighty percent of survey respondents were confident about the country’s economy and nine in 10 were also confident of its political stability.
More than 70 percent said they were able to save more income and have more disposable income, far above the global expat average. Around two in five expats say that moving overseas has accelerated their progress towards saving for retirement (40%) or towards buying a property (41%), compared to around one in five (20% and 19% respectively) whose move overseas has slowed their progress towards these financial goals. Almost three quarters (71%) of expats in Switzerland are able to save more of their income there, while 73% now have more disposable income. 52% of expats in Singapore also say that their ability to buy property improved in Singapore compared to just 41% globally. The global average expatriate earnings sat at $97,000 a year, according to the report.
Hong Kong is the best place for expats looking to move up the career ladder, according to new findings by HSBC.
For the best expat “experience”, though, life as an honorary Kiwi took top spot, while Spain came second in the HSBC survey experience category.
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Sweden remained the best place for expat families in the 2016 ranking. 75% of expats meanwhile say that the quality of education in Singapore is better than at home. A similar proportion (75%) believe the quality of childcare available in Sweden is better than it is at home. On top of being an incredible area for expats financially, it’s also recognized for its excellent quality of life and safe and family-friendly environment.
