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By Haruna Kobayashi, for ExpatBriefing.com
29 September, 2017
Expats still consider Singapore to be the best territory to relocate for life and work, according to a recently released annual survey from HSBC. Meanwhile, firms in Switzerland and Saudi Arabia increased expats' wages most.
HSBC's annual Expat Explorer: Broadening Perspectives report is based on a survey of more than 27,500 expats. Now in its tenth year, the survey also found that life abroad typically increases expats' income by 25 percent, with the average expat earning just under USD100,000 a year. Four in ten (41 percent) expats also say they are more positive about life after relocating, with 44 percent becoming more physically active.
Singapore was again rated the best place to relocate to, with its political stability cited by 83 percent of respondents, the local economy by 73 percent, and quality of life by 64 percent. 73 percent said the country offers better earning prospects than their home country and two-thirds said they enjoy more disposable income. Expats moving to Singapore report an average 42 percent increase in their annual income compared with home, to almost USD118,000.
In addition, four in five expats (82%) feel safer in Singapore than at home and 72 percent of expat parents rate the quality of education and the health and well-being of their children as being better than in their home country. But expat life in Singapore can come at a price, the survey found; expats are less likely to see an improvement in their work–life balance than those in other destinations (47 percent, compared with 53 percent globally). More than four in five expat parents (84 percent) find that the cost of raising children in Singapore is more expensive than at home.
Norway – up four places in the league table – in second was favored for offering a significantly better work–life balance, with 90 percent reporting an improvement, and 82 percent of expat parents said their children's overall quality of life had improved. 78 percent said their job security had improved.
Rounding off the top-10 are: New Zealand, which ceded second place to Norway this year, Germany in fourth, up six places, the Netherlands in fifth, up ten, followed by Canada (sixth, down three places), Australia (seventh and up four places), Sweden (eighth, unchanged), Austria (ninth, down two places), and the United Arab Emirates, which climbed two places to tenth.
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