December 10, 2018

Want a Higher Salary? Move to One of These Countries

12 October 2018, 07:28 | Glen Norman

Want a Higher Salary? Move to One of These Countries

According to HSBC's Expat Explorer 2018 study the UAE is now the fourth best country for economic prospects for overseas residents. Jaime Puebla  The National

For those looking to really boost their incomes, the global report found Switzerland tops the list of destinations for the biggest pay packets, with the average annual expat salary at £155,495 - the highest in the survey.

And it revealed that 45% of those in the global study who had moved overseas had received more money for doing exactly the same work as before and 28% had moved for a promotion. Most of the expats move to Singapore for job opportunities and 86 percent of the expats interviewed are employed. While another 69% agreed that it's a good place to progress their career (global average: 56%).

The average income of an expat in Singapore is SGD 221,522. About 78% of those interviewed said they would recommend Singapore to anyone who has been thinking of moving overseas.

Two thirds of those surveyed said they had a higher disposable income now, despite the high costs of living. The majority of expats said they felt safer there than they did at home, and the quality of education and health and well-being of their children was better than their home country.

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Anurag Mathur, head of retail banking and wealth management, HSBC Bank (Singapore), commented in a media release: "It comes as no surprise that Singapore continues to be an expat draw-card".

"But the real kicker is the lifestyle".

"Expats families here can rest easy knowing their move has done great things for their family's present and future".

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Jumping 10 places from 25th last year, Neighbouring Malaysia came in 15th overall this year - 12th for family and 13th for experience this year. The UAE dropped three places after ranking 7th in 2017.

According to the 2018 survey, a working life in Hong Kong comes with added stress levels for 57% expats.

Expats in Thailand said the working culture has made them happier, more than anywhere in the world.

Nearly half of all expats (45 per cent) surveyed in Singapore said they initially moved here to progress their careers, higher than the global average of 35 per cent, while 38 per cent said they did so to improve their earnings (global average: 24 per cent).

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