China has biggest share of high-earning expats, HSBC survey reveals
October 29, 2014 Category Expat corner, Weekly
Expatriates in Asia are most likely to earn over a quarter of a million U.S. dollars a year, an HSBC survey said, and even more so if they work in mainland China. According to the survey of quality of life among overseas workers, mainland China has the biggest share of high-earning expats in the world, accounting for 29% of those who earn more than USD250,000 a year. Overall, Hong Kong ranks 10th in a list of favored expatriate destinations. Switzerland is first, followed by Singapore and mainland China. Six of the top 10 expat locations are in Asia. Market research firm YouGov polled nearly 9,300 expats in some 100 countries for the HSBC-commissioned Expat Explorer survey, asking people about their financial well-being, quality of life and the ease of raising family in the locations. In China, 65% of expat parents said the quality of their children’s education had improved since the move. They also said they spent less on day-to-day expenses and leisure, which, when coupled with higher salaries, added up to greater disposable income than back home. Over two-fifths said they have a more active social life since moving to China, compared with the global average of 28%. 14% of expats in Asia earn over USD250,000 a year, compared with only 5% in Europe, the South China Morning Post reports.
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