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HSBC Expat Explorer Survey, 2014

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HSBC Expat Explorer Survey, 2014 Expat Explorer Report 2014 Expat Explorer Report 2014 1 Contents Introduction..........................................................3 Country reports...................................................42 Foreword by HSBC...............................................4 Australia..............................................................43 Expat Explorer overview........................................5 Bahrain................................................................ 44 Expat Economics..................................................9 Brazil................................................................... 45 Expat Experience.................................................19 Canada................................................................46 Raising Children Abroad......................................29 China ..................................................................47 Expat Expenses...................................................36 France.................................................................48 Germany..............................................................49 Hong Kong..........................................................50 India.................................................................... 51 Malaysia..............................................................52 Mexico ...............................................................53 New Zealand.......................................................54 Oman..................................................................55 Saudi Arabia........................................................56 Singapore............................................................57 Switzerland......................................................... 58 Taiwan.................................................................59 Thailand...............................................................60 Turkey..................................................................61 United Arab Emirates..........................................62 United Kingdom...................................................63 United States.......................................................64 Vietnam...............................................................65 About the survey.................................................66 References......................................................... 67 ExpatExpat Explorer Explorer Report Report 2014 2014 2 Expat Explorer Introduction This independent research The findings are used to 1. Expat Economics The Expat Explorer study is commissioned by generate the Expat Explorer looks at a range of factors HSBC Expat and conducted by league tables and provide including expat earning levels, third party research company expats with a balanced saving and investing patterns, survey, now in its YouGov, who surveyed 9,288 picture of what expat life and the impact of the current expats through an online is like around the world, global financial climate, to paint seventh year, is questionnaire. covering four areas: an informed picture of expats’ economic situation around the The survey was conducted world. one of the largest through April and May 2014, with expats from over 100 2. Expat Experience countries taking part. covers an expat’s lifestyle, and longest-running The survey focuses on the especially the level of ease or experiences of expats in their difficulty in which expats can global expat surveys. new country of residence, with set up in their new country, expats from all over the world how well they integrate into describing the opportunities and the local community, and their challenges they face living away overall quality of life. from home. 3. Raising Children Abroad reveals the best place for expat families to bring up children abroad. 4. Expat Expenses unveils the most cost-effective countries for expats to live based on everyday expenses. ExpatExpat Explorer Explorer Report Report 2014 2014 3 Expat Explorer Foreword by HSBC A stint abroad often brings about expats, but over half of the The Emerging and Growth a new perspective on different expats there also say they have Leading Economies, otherwise ways of living, new challenges a better work/life balance than known as the ‘EAGLEs’, and the chance to experience they had at home. For expat are proving popular for the different cultures. parents, they note how their seconded expat. Almost three The days of moving abroad children have a healthier lifestyle times as many expats in EAGLE purely for monetary reasons, and overall are enjoying a better economies like Brazil, Turkey, or desirable expat benefits and quality of life. India say they were sent by their healthy salaries seem long company, highlighting a trend for gone as expats today seek The picture is similar for New corporations to take advantage out locations that offer more Zealand, another country of these growth hotspots by balanced and well-rounded renowned for its spectacular relocating their employees lifestyles. This year, nearly 9,300 scenery and great outdoors. abroad. expats shared with us their This year, New Zealand ranks experiences of life abroad, and 1st in the Raising Children People end up living a life abroad their accounts helped to shape Abroad league table with parents for many different reasons. the findings of the 2014 Expat noticing the improved health, Each year, the results of our Explorer survey and league wellbeing and safety of their Expat Explorer survey provide tables, painting a revealing children, as well as believing they an informative insight into how picture of modern expatriate life. are bringing up more confident expat life has changed, from the and well-rounded individuals. shifts in attitudes to the different Expats have told us that perspectives that make each Switzerland ranks as the top For the higher earning expat in expat experience so unique. country for a balanced expat 2014, Asia is the most popular life, providing the means to destination. Expats there are Thank you to everyone who has build a good career while almost three times more likely taken the time to share with us allowing expats to enjoy a life to earn over $250,000 p.a. than your stories of life abroad. outside work and to raise their their counterparts in Europe. family abroad. Expats there Within Asia itself, our survey embrace the Swiss way of found that China is the preferred life and are relishing what the choice for these high flying country has on offer. Not only expatriates, with four times as are Switzerland-based expats many expats in China (29%) Dean enjoying the good climate and earning over the $250,000 p.a. Blackburn, pleasant scenery, with the mark compared with the global Head of HSBC country home to the sportiest average (7%). Expat Expat Explorer Report 2014 4 Expat Explorer Key findings say changes in house prices comment on the ease with 1 pose the greatest threat to their which they integrated into the Switzerland, Singapore financial wellbeing. local community, weighing in and China are the leading above the global average of destinations for a balanced 65%. expat lifestyle in 2014, taking 5 the top three spots in the Expat Adventurous expats choose to Explorer league table. head to Asia. Over two-fifths 9 (44%) say that they moved to Japan is a safe place to raise a Asia because they wanted to family abroad. More than nine 2 have a new challenge. in ten (94%) expats in Japan High growth ‘EAGLE’ say that their children’s safety economies such as Brazil, has improved since moving. Turkey, India, China, Mexico and 6 Taiwan are popular destinations Canada takes the crown as the for companies looking to send top expat retiree spot, with 10 their employees abroad. three times more expat retirees Expats rate Taiwanese than the global expat average healthcare as one of the (31% compared with 11% best in the world in terms of 3 globally). affordability and quality. Nearly Asia is home to the highest three times as many expats earning expats, who are almost say they are spending less on three times more likely to earn 7 healthcare than they used to over $250,000 p.a than their New Zealand ranks 1st in both (67% compared with the global counterparts in Europe (14% the Expat Experience and average of 27%) and almost compared with 5% in Europe). Raising Children Abroad league two-thirds (64%) say they enjoy tables. the higher quality of healthcare 4 available in Taiwan. Rental rates and volatile house 8 prices are a big concern among Canada and the United States expats based in the Middle offer expats an easy setup and East – 44% of expats there great quality of life. Roughly say fluctuations in rental prices three-quarters of expats in both pose a risk to their financial countries (73% in the United wellbeing and over a fifth (22%) States and 76% in Canada) Expat Explorer Report 2014 5 Expat Explorer Overall findings Which expats took Respondents: 9,288 part in the survey? This year, Switzerland, Singapore Average expat salaries, however, they are retired compared with When it comes to spending Gender and China lead the charge as vary greatly from region to the global average of 11%. power and relative disposable the top destinations for expats. region. Boosted by the number Retirees are most likely to income, over half of expats (53%) Ranking 1st in the Expat Explorer of higher earning expats in Asia, relocate to be with a loved one say they have greater disposable league table, Switzerland takes average salaries in this region (30%) or to improve their quality income since moving
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