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Singapore Expats wealthiest: HSBC's annual survey

Expats living in Southeast Asia tend to earn the most, with those in Singapore the wealthiest of the lot, according to HSBC’s fifth annual survey of expatriate wealth, lifestyles and attitudes.

The survey, described by HSBC as the largest of its kind as measured by the number of participants, shows that Singapore this year tops its so-called Expat Explorer Economics league table, which ranks countries based on a number of factors such as earning levels, disposable income and ability to accumulate luxuries.

Singapore, the HSBC data shows, is home to the largest proportion of wealthy expats of any country, with more than half, or 54%, of Singapore-based expats who took part in the survey reporting that they earn more than $200,000 per year, compared to a global survey average of only 7%.

Four other Southeast Asian countries also place in the league table’s top ten of financially-accommodating jurisdictions, including Thailand (in third place), Hong Kong (fourth), China (seventh) and Vietnam (tenth), the HSBC data shows.

 

Other key findings of the survey:

  • http://www.international-adviser.com/Style/images/news/bullet.gif); line-height: 1.8em; "> Four in five (80%) of expats in Singapore saw an increase in their disposable income since relocating to the city-state
  • http://www.international-adviser.com/Style/images/news/bullet.gif); line-height: 1.8em; ">The trend for increased earnings after relocating is also noted across other Asian countries, with expats in Hong Kong (79%), Malaysia (72%) and China (69%) saying they, too, benefitted from an increase in disposable income since moving to these countries
  • http://www.international-adviser.com/Style/images/news/bullet.gif); line-height: 1.8em; "> Despite a generally strong outlook for the Gulf economies, many Middle Eastern expats say they only plan to stay for a short time

To read more about the Expat Explorer survey on HSBC's website, click here.

 

 

Source: http://www.international-adviser.com/news/expats-wealthiest-in-southeast-asia-hsbc

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