Singapore remains the preferred place to live for expatriates, despite Hong Kong ranking highest for take-home pay.
The Expat Explorer survey, which is conducted annually by HSBC, found that Hong Kongers take home on average almost US$6,000 per year more than those in China which ranked second for income, and US$16,534 more than those living in Singapore, which came in at number three. Compared to the rest of the world, Hong Kong expats earn a whopping US$72,000 more than the average expat globally.
Sixty one percent of Hong Kong expats surveyed said they have more disposable income than they did at home. Higher earnings, lower tax bills and perks such employers covering accommodation, schooling and car costs were cited as reasons for having more cash in their pockets. It was found that the additional income is spent on holidays, luxury items, education and investments.
However, despite this the Lion City ranked top of the world table for liveability for the fourth year running.
Hong Kong was also named the best place in Asia for career progression. Forty percent of those questioned said they moved to Hong Kong specifically to progress their careers, just behind Singapore at 45%.
Over 22,000 expats took part in the survey, from home countries including the UK (31%), mainland China (15%), the US (12%), Australia (9%), Canada (5%), India (4%), and 3% each from France, Singapore and Germany. expatexplorer.hsbc.com